![]() ![]() GeoGebra has 100 million learners across over 195 countries and provides easy-to-use formats for mathematics. “Together with our combined strengths, we will have a wider reach and the best resources to build innovative and exciting next-generation learning formats,” she said. Designed to improve mathematical understanding, it offers significant features that provide interactive resources that adapt to every child’s style and pace of learning,” Byju’s Chief Strategy Officer Anita Kishore said. “The GeoGebra team has built a powerful and stimulating platform that complements Byju’s mission of providing impactful learning for students. GeoGebra’s platform is interactive, collaborative and dynamic for learning. In fact, the company did not reveal the monetary details of the deal yet. Byju’s aims to make mathematics interesting and bring potential learning outcomes. The company in a statement said the new acquisition is aligned with Byju’s overall product strategy. The total purchase consideration to acquire GeoGebra is 24 Million which include 9.6 million worth shares to the company’s founder Markus Howenwater and 1.2 million worth shares each to the. Byju’s will implement new concepts by integrating GeoGebra’s capabilities and new learning formats into its existing mathematics portfolio. For Austria-based GeoGebra, Byju’s has allotted 3157 Series F preference shares to shareholders of GeoGebra to acquire 50 stake in the company. The acquisition will help Byju’s to offer new products and services as GeoGebra has 115 million students on its learning platform. ![]() In an interaction with VCCircle this week, Mayank Kumar, cofounder and managing director, upGrad, said that a n acquisition in the US is quite likely.Byju’s-a homegrown Edtech company has recently acquired Austria-headquartered GeoGebra. It also acquired a majority stake in professional networking and consulting platform TapChief for an undisclosed amount earlier this year.Įarlier this week, upGrad, which turned unicorn in August, entered into an agreement to acquire online higher education business Talentedge Education Ventures Pvt Ltd. This year, Unacademy, which turned unicorn in 2020 after a funding round led by SoftBank, acquired companies such as game streaming Rheo TV and K-10 online tuition platform Swiflearn. However, losses widened to ₹262 crore from ₹8.82 crore in the previous year.Īpart from Byju's other edtech firms such as Unacademy and upGrad have also upped their M&A strategy. Ltd, which runs Byju’s, reported a jump in total income to ₹2,380 crore in the year ended March 2020 from ₹1,305 crore in the previous year. The company is also considering and exploring both US and India markets for its listing for now, he had added. In an interaction with Mint in September, Byju’s founder and chief executive Byju Raveendran, had said the company is considering an initial public offering (IPO) and will be raising its last private round as talks are currently on. As a part of the round, Byju’s recently raised $300 million in October which valued the Indian edtech company at roughly $18 billion.īyju’s valuation has skyrocketed since last year as the pandemic fuelled an online learning boom with parents enrolling kids in online classes. ![]() It is in talks with investors to raise an additional $1.5 billion which could potentially value the edtech company at $21 billion, Mint reported in August. The fundraising had valued the company at around $15 billion. Prior to that in April, Byju’s had raised over $1 billion from investors led by Baron Funds, Facebook co-founder Eduardo Saverin’s B Capital Group, and US-based investment hedge fund XN Exponent Holding. In June, Byju’s raised $1.5 billion from UBS Group, Abu Dhabi sovereign fund ADQ, and Blackstone Group, among others, at a valuation of $16.5 billion. The edtech unicorn got some of the largest cheques from institutional investors this year. ![]() The edtech company also shelled out close to $600 million to acquire Great Learning, marking its entry into the upskilling space.īyju’s currently has more than 100 million registered students and 6.5 million paid subscribers. In April this year, it spent close to $950 million to acquire education institution Aakash Educational Services Ltd (AESL), in what is touted to be one of the most expensive acquisitions in the Indian edtech space. There has been no official comment from Byju’s yet. The purchase price was not disclosed, but a source familiar with the issue told Techcrunch that the deal was around 100M and included both cash and shares. This year alone, Byju’s has spent close to $2.5 billion in acquiring different edtech businesses. GeoGebra is an interactive mathematics study platform with over 100M students in 195 countries. Byju’s, which became a unicorn in 2018, has been ramping up its acquisition strategy this year in a bid to enter newer edtech categories of upskilling, test prep and higher learning, while fortifying its presence across key international geographies including the US. ![]()
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