Online tutoring start-up Byju’s has
acquired US based playful learning system Osmo for $120 Million. The
acquisition, Byju’s first ever of a US company, will help the Indian start-up
expand into a new younger demographic of kids between 3 and 8, and allow it to
tap into Osmo’s physical-to-digital technology and content.
Byju’s has aggressive plans for the
international market and will continue to make big investments in technology to
further personalize learning for students. It has been growing at 100%
over the past three years and is on target to triple revenue to Rs 1,400 crore
this year.
Just last month, Byju’s raised $540
million at a valuation of $3.6 billion, as robust investor demand swelled the
size of its latest funding round and turned the founder of the eponymous
start-up into an overnight billionaire. That funding round put Byju’s fourth on
the list of India’s most valuable start-ups, after digital payments firm Paytm
(One97 Communications Ltd), cab-hailing service Ola and budget hotel chain Oyo
Rooms.
The
focus at Byju’s has been on creating engaging, immersive content offered
through personalized learning experiences to students across grades. Osmo’s use
of mixed reality interactions can help it expand its platform to new audiences
and applications. Launched in 2015, the Byju’s Learning App currently
offers personalized programs for school students across grades 4-12. It has
over 2 million annual paid subscriptions and 30 million students cumulatively
learning from the app.
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