Byju's turns profitable after 8 years of hardship
Byju’s, a Bengaluru based India’s first edtech unicorn has finally turned profitable. It took 8 long years for Byju’s to turn profitable. “The growth in revenue was fuelled by deeper penetration across India and significant growth in the number of paid subscribers,” said the company’s statement. Last year, Byju’s was operating at break-even until last year. In the financial year 2018-19, Byju’s reported revenue of ₹14.3 billion, which is thrice than the year 2017-18. Paid user base of Byju’s has also reached to 2.4 million users. This number is double from the last year, where it was 1.2 million users. Byju’s is now planning to enter global market specifically, U.S. Recently, Byju’s has acquired a game based learning platform of U.S. for $120 million. The company is also partnering with Walt Disney to introduce a new early learning app for kids.