BYJU'S Aspires To Be Largest Edutech Company In World, Says CEO
Books are almost passé for kids of today's generation whose primary habit is to learn from the screen. This has given rise to edutech companies that target the K-12 segment (kindergarten to class 12) helping students to learn through the online medium.
Byju's, India's largest-funded edutech company with $140 million in its kitty, aspires to be the largest edutech company in the world, said Byju Raveendran, founder and CEO of the startup. To realise its aspiration, the startup is now looking to create products for the international market and also exploring potential acquisitions.
At a media briefing in Bengaluru, Byju's today launched a major update to its learning app to create a personalised learning experience by leveraging big data analytics. "The app creates personalised learn journeys for individual students based on their proficiency levels and capabilities which helps them learn at their own pace and style," Byju's stated in a release.
Talking about the new personalisation feature in its app, Byju's said, "We have successfully transformed the one-to-many learning model to one-on-one personalised learning experiences through our app. With high engagement and renewal rates, we have set a new benchmark in education technology nationally as well as globally. In this upgrade we have personalised the app interface to determine every student's capability and recommend the right 'Learn Journey'. Based on the level of understanding, 'Learn Journeys' will be tailor-made to every student's individual requirements to ensure a seamless learning experience. We are also creating learning products in local languages to reach out to students across regions."
Given that parents play an important role in every student's educational journey, Byju's also launched today a 'Parent Connect' app that offers real-time update on every student's progress. This app will help parents stay up-to-date and be more involved in their child's learning journey.
"The all new 'Parent Connect' app elevates a parent from someone who just 'monitors' to someone who 'appreciates and encourages', basically to a cheerleader's position, who will guide and motivate the child to do better. Regular updates via the app will enable every parent to play a proactive role in appreciating the child. This will further instill and increase a whole new sense of confidence in them," Byju said.
Byju's, which started off as a classroom-based learning platform is increasingly moving online with more than 89 per cent of its revenue today being generated from the online mode of delivery. Today, Byju's claims to have 8 million users and 4 lakh annual paid subscriptions with annual renewal rates as high as 90 per cent.
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