Bengaluru, Jan 10: Education technology company Byju’s is learnt to have raised $200 million in a funding round from Tiger Global Management, which has valued the Bengaluru-based start-up at around $8 billion, making it the third-largest unicorn (start-up valued over $1 billion) in the country.
With this, the Byju Raveendran-founded company has seen over 50 per cent jump in its valuation in just around nine months. In March 2019, Byju’s was valued $5.4 billion, when it raised around $31 million from General Atlantic, and Chinese investment giant Tencent.
At the current valuation, Byju’s has now replaced home-grown cab-hailing major Ola as the third-largest unicorn, next only to Paytm and OYO, which are valued around $16 billion and $10 billion, respectively.
Byju’s confirmed the transaction through a press statement, though the company declined to share any specific details of the deal. Tiger Global could not be immediately reached for its comments.
“We are happy to partner with a strong investor like Tiger Global Management. They share our sense of purpose and this partnership will advance our long-term vision of creating an impact by changing the way students learn,” said Raveendran. “This partnership is both a validation of the impact created by us so far and a vote of confidence for our long-term vision.”
This is Tiger Global’s first investment in the edutech space in India after Vendantu, an online tutoring platform, where it, along with WestBridge Capital, led a $42-million round in August.
An early backer of India’s internet growth story, the New York-headquartered Tiger Global has been a prolific investor in the Indian start-up space. Its portfolio in the country ranges from consumer focused e-commerce companies that are vital for the growth of the sector, such as Flipkart, Delhivery, Grofers, Quikr and PolicyBazaar, to mention a few.
After tasting success with Flipkart, one of its earliest investments, where it had pumped in around $1 billion, the PE major is now doubling down its focus on the Indian start-up space, under its new investment head Scott Shleifer.
Shleifer, who set up international private equity practice for Tiger Global, is said to be as aggressive deal maker like his predecessor Lee Fixel, who left the investment firm in March. Since then, Tiger has also invested in a host of technology-focused companies in diverse sectors including Ninjacart, CRED, NoBroker and Facilio to mention a few.
“Byju’s has emerged as the leader in the Indian education-tech sector. They are pioneering technology shaping the future of learning for millions of school students in India,” Shleifer was quoted in the press statement issued by the edutech firm.
Comments
All these because of lacking of knowledge of fundamentals of Islam.
Islam is perfectly taught with boundaries for what to be done and what not to be done.
What to be done are : Farz, or obligatory deeds
What may be done : N compulsion, but doing can lead for extra reward
Not to be done Prohibitions : These should not be done. Like Associating someone with the True God who created us who only deserves to be worshipped. This is a biggest crime in Islamic point of view. Other prohibitions are eating pork, liquors, adultery, gambling,
Now the things what happening mostly in Dargah are worshipping the graves, which is the biggest crime. This is forbidden to both men and women. People can visit the dargah and pray for the dead people in that grave. But begging the dead there is prohibited.
Really those dead bodies can not help us, in contrary those bodies need prayers, wishes of living people.
We can visit the dargah in the intention to pray for the dead in the grave and to say Salam. Doing like this properly is not sin.
Wrongly Visiting Dargah can mislead to sin,
And not visiting Dargah does not amount to sin.
Therefore people lack basic teaching of Islam.
A MUSLIMAH ( True Muslim Women) will never ask with any other creation EXCEPT ALLAH... Those who depend on other than ALLAH will get what they want but in the end they will fall for the trap of deceivers who are attracting the people who are WEAK in IMAN to their way of worshiping the graves or asking with the graves.
THOSE who have faith in ALLAH will never ask or depend on, other than ALLAH. They are Satisfied with what ALLAH gave and Say ALHAMDULLILLAH in whatever situation comes their way... Congrats to such MUSLIMS and MUSlIMAH who trust ALLAH and follow the teaching of Prophet Muhammad pbuh... who never showed us Such CULTURE of DARGAH ViSIT..
Prophet MUHAMMED pbuh said... Visit GRAVES to Pray for the one who is in the GRAVE & REMEMBER that one day our fate will be same. So dont live in this life in ARROGANT or do injustice to Others.
Dear Sahil, if they knows the meaning of Namaz or Salah they never visit Dargah. Here may be RSS behind such kind of demands.
These so called muslim women don't know Islam. so they are asking entry to Dargah/Grave yard. Who stop them to go there go and enjoy.CD Editor please remove Muslim woman tag because muslim women never ask such kind of demands.Better tag Ahle biddah women ask entry to darga.
They dont bother about namaz..but worried about entry to do shirq
Haha..funny..they dont bother about performing namaz..
But worried about entry to dargah to do shirq..
Dear CD team. Please be careful when you posting one sided opinion about practice of Islam. You have reader from all sections.
REALLY SURPRISED TO SEEE THESE MUSLIM LADIES IN ROAD PROTESTING FOR ENTERING THE DARGAH ,
FIRST THEY HAVE TO OFFER NAMAZ PERFECTLY I DONT KNOW WHAT THEY WILL GET IN DARGAH ....
THEY JUST VISIT TO ASK TO THEM.. THATS NOT GOOD WE HAVE TO ASK WITH ALLAH HE IS OUR ALL MIGHTY ..
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