The test prep is also helpful to people to get gilt-edged government jobs. Since the mandatory lockdowns from March 2020, the company claims to have added 25 Million+ students to its platform. It is an test for engineering aspirants (especially those seeking admission to premier engineering institutes such as IITs). With over 33 years of experience, Aakash has built a highly effective learning ecosystem that has helped millions of young aspirants get into the countrys best institutions. You are just one step away from creating your watchlist! It is like big e-commerce firms competing with your mom-and-pop grocery stores. We have migrated to a new commenting platform. Aakash App for JEE & NEET on the App Store While technology will disrupt the market, we had to assess which side of the disruption you wish to beyou want to be on the side where you get disrupted and are not left with a choice or be part of the disruption. The lenders also accused the company of diverting funds through its US-based subsidiary Alpha, a claim Byju's denied. According to him, Indias coaching centres are too many, too diverse, and very hyperlocal. Founder and CEO Byju Raveendran said the union will bring together the best of offline and online learning. Looks like you have exceeded the limit to bookmark the image. With over 215+ centres, Aakash provides test preparatory services to students preparing for medical and engineering entrance exams, school/board exams, KVPY, NTSE, Olympiads, and other Foundation level exams. The combination is highly synergistic and we are excited to help build Indias largest education company, said Amit Dixit, co-Head of Asia Acquisitions and Head of India Private Equity at Blackstone. "You need it along with safe space for children where there is adult supervision, peer to peer learning.". What will happen to brand Aakash after the takeover? VideoThe surprising truth behind the 'walking' statues of Easter Island, Jane Birkin: Artist and style icon's life in pictures, Sport's strictest dress code finally relents. If we are talking about Indias ed-tech startups then Byjus has its place at the top. You can also read our privacy policy, We use cookies to ensure the best experience for you on our website. [5] As of April 2023, the company claims to have over 150 million registered students. Loaded 0%. BYJUS is backed by marquee investors like Mary Meeker, Yuri Milner, Chan-Zuckerberg Initiative, Tencent, Sequoia Capital, Tiger Global, and others. "Byju's failed at holding itself to the standard expected of a company its size," said K Ganesh, a serial entrepreneur and angel investor who founded one of India's largest online grocers, BigBasket. BYJU'S completes Aakash Educational merger; founders become - YourStory This depends on what kind of programme a student is takingis he/she taking a test prep or K-12 programme. With 30+ years of legacy, 200+ centres, 2200+ expert faculty, and 2.5 lakh+ students, Aakash is well known for its strong academic pedagogy and comprehensive JEE and NEET preparation programs. How will Aakashs expansion to smaller cities benefit brand Byjus, which largely has an urban, middle and upper-middle-class client base? Aakash transforming into hybrid edtech firm after Byju's $1 bn acquisition Aakash App for JEE & NEET - Apps on Google Play Valued at $22bn (17.28bn) last year, Byju's has seen its valuation slashed to $5.1bn this year by Prosus NV, the company's biggest investor and shareholder. In a major development, two independent directors of its coaching arm Aakash Educational Services Ltd (AESL) have reportedly quit now. In this article, I am going to talk about the acquisition deal between Aakash Educational Services Limited Institute and BYJUS. At present time Byjus has over 80 million students cumulatively learning from the app, 5.5 million annual paid subscriptions, and an annual renewal rate of 86 percent. At Forbes India, Manu writes on automobiles, aviation, pharmaceuticals, banking, infrastructure, economy and long profiles among many others. We started talking in June last year. //]]>. It is estimated to have raised over USD 2 billion in funding to date. Previous reports from Moneycontrol indicated that Byju's was preparing for a $1 billion (8,264 crore) public listing for Aakash, projecting a valuation of the tutoring services branch between $3-4 billion (24,792 - 33,056 crore). The bigger a player, the more cost prohibitive it becomes for the consumer, says Bisen. Save my name, email, and website in this browser for the next time I comment. The addition of Aakash is a significant step towards strengthening BYJUS product offering. Managing Director & Co-Promoter Aakash Chaudhry and his family are giving up their entire stake in the firm for a 70:30 cash-equity deal under which they will receive an undisclosed stake in BYJUS for about 30 percent of the payment. For BYJUS, the next set of segments of interest, and possibly acquisitions, could come from other areas of test preparation such as civil services, government, and banking exams, as well as entrance exams in law and management. Exits Continue At BYJU'S: Now, Two Independent Directors Of Aakash Remove some to bookmark this image. Byjus challenge is of a different nature. As we unite our forces to bring together decades of expertise and experience, this partnership will further accelerate Aakashs growth and success., Aakash Chaudhry, Managing Director, AESL said At Aakash, we are looking to transform student experiences by steering innovative and digitally-enabled learning solutions. In case you cant find any email from our side, please check the spam folder. The meeting with Byju Raveendran was meaningful and cohesive, and there was no discomfort. Former upGrad CEO to lead BYJU'S international business: Sources "There's a big gap between value and valuation," he said. Chaudhry and Aakash Chaudhrywill hold a minority stake in Byjus. During April-September 2020, Byjus added 45 million new students to its platform. Byju's channelled hundreds of millions into its marketing, roping in Bollywood superstar Shah Rukh Khan and football star Lionel Messi as its brand ambassadors. Launched in 2015, Byjus has over 80 million students cumulatively learning from the app, 5.5 million annual paid subscriptions, and an annual renewal rate of 86 %. Rs. In 2018, Byju's became a unicorn valued at $1bn. Read about our approach to external linking. Aakash BYJU'S Live Online Classroom Program JEE Advanced 2023 - Question Papers (available), Response sheet, Answer BYJUS strongly believes in a Freemium business model wherein it offers customers both complimentary and paid (premium) services. Aakash BYJU'S Neo It has a centralized in-house process for curriculum and content development and faculty training and monitoring, led by its National Academic Team. Among the four major areas of ed-tech i.e., K-12, test prep, skill development, and online certification, the test prep is considered to be the evergreen market for Ed-tech as the students are obsessed with the grades, the right coaching and guidance provide them the admission in top colleges of engineering and medical courses. It'll just take a moment. It has its presence in more than 200 coaching centers across the country. The acquisition, which comes in the form of a cash-and-stock deal, is reportedly worth nearly $1 billion, making it the biggest in the edtech space. The future of learning is hybrid and this union will bring together the best of offline and online learning, he said. For Chaudhry, who studied botany at the DAV College, Jalandhar, before going on to do a master's in botany from the illustrious Birla Institute of Technology, New Delhi offered a better life. For its (companys) growth, it has to be put in an orbit where it will evolve and grow.. Download the Mint app and read premium stories. By acquiring the Aakash the BYJUS makes its presence in the test prep segment the best choice for the students as it provides the blend of both the technology of the BYJUS and the expertise of the Aakash, so the students can learn from home as well as take guidance from the experts. Analysts say investors are used to handling bull and bear runs and have short memories when it comes to these dips. As the Aakash has very little presence in the ed-tech industry. It offers a technology-based education platform for primary and secondary school subjects, overseas and domestic test preparatory coaching services for entrance examinations for engineering, medical, etc," the statement said. We choose to be part of the entity and redefine the industry. Byju's: The unravelling of India's most valued start-up - BBC AIATS: Buy Aakash Test Series for NEET/JEE 2021 Online - Aakash Digital The apps have been designed to adapt to the unique learning style of every student, as per the pace, size and style of learning. Some also said that the firm used predatory practices to exploit customers. BYJUS has also acquired several start-ups and businesses to expand its offerings and push its market share and ed-tech penetration through its subsidiaries. BYJUS is Indias largest ed-tech company and the creator of Indias most loved school learning app which offers highly adaptive, engaging and effective learning programs for students in LKG, UKG, classes 1 -12 (K-12) and competitive exams like JEE, NEET and IAS. Bengaluru/ New Delhi, 5th April, 2021: BYJUS, worlds leading ed-tech company today announced its strategic partnership with Aakash Educational Services Limited (AESL), a leader in test prep services. This partnership brings together two of the largest and most-trusted education brands in India combining Aakashs pedagogy expertise in the test-prep segment with BYJUS content and tech capabilities. Since the mandatory lockdowns from March 2020, the company claims to have added 25 Million+ students to its platform. https://byjus.com, Your Mobile number and Email id will not be published. The informal setup may suffer, but not too much, Bisen says. Commenting on the deal, Byju Raveendran, founder and CEO of Byjus, said the acquisition would help both the organisations to build capabilities and would strengthen their learning programmes. How will brand Aakash continue to expand its footprint? No matter how much the technology is evolving, the traditional way of teaching i.e. 5 Ways Aakash BYJU's Help Students With Competitive Exam Prep "Most sectors that benefited from the pandemic and expanded rapidly are now facing headwinds because the return to normal has been more drastic than they expected," Mr Ganesh said. Jun 12 i was in aakash byjus for two years.
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