General Atlantic-backed Indian edtech startup Byju’s claims to be profitable

Byju’s founder Byju Raveendran. Photo: Mint

Online tutoring app Byju’s on Thursday said it has almost tripled its total revenue to ₹1,430 crore for the year ended March 2019, up from ₹490 crore revenue reported in FY18.

The startup, a unit of Think & Learn Pvt Ltd, also claimed in its press statement that it is now profitable on a full-year basis. When asked to share the actual profit figures for FY19, the company declined to share any further information.

As of April 2019, BYJU’s claims to have crossed ₹200 crore in monthly revenue. It is estimating a revenue of over ₹3,000 crore by the end of this year, according to its press statement.

The growth in revenue was fueled by deeper penetration across India and significant growth in the number of paid subscribers, the company said in its statement. BYJU’S also said it is currently working on creating learning programs in different regional languages to expand its reach.

“60% of our students are from outside the top 10 cities. This high adoption rate is a clear indication that online learning is fulfilling a crucial need and is here to stay. We are also working on creating learning programs in multiple regional languages and we believe that this move will truly be a game changer in helping students learn in the comfort of their homes and in a language of their choice,” said Byju Raveendran, chief executive of BYJU’S in a statement.

According to the company statement, BYJU’s has over 35 million registered users and 2.4 million paid subscribers currently — up from 1.26 million in June 2018.

This article was first published on livemint.com.

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

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  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.