BYJU’S business model focuses on a K-12 learning app working in the educational sector offering a fun learning experience to its users. It has become the largest ed-tech company in India presently, with over 57 million users and 3.5 million paid users.
BYJU’s was first started in 2011 by Raveendran Byju, an Indian from Kerala, and the BYJU’s learning app was launched in 2015 by Think and Learn Pvt Ltd. BYJU’s learning app is a platform where students learn in a different, innovative, visually appealing, and personalized way.
BYJU’S BUSINESS MODEL: THE BEGINNING
The founder of Byjus, Raveendran Byju is an engineer and was initially working in UK based shipping company. He belongs to a small village in Kerala named Azhikode. Despite having a great future in the company, Byju decided to leave it behind and start something on his own.
As the time passed, Byju realised what he wants to work on and started working towards his goals. He first started off teaching a small number of students in small batches that gradually turned into large-scale arenas.
THE LEARNING APP: FREEMIUM ACTION PLAN
BYJU’s the learning app runs on a Freemium plan of action which means that the app allows the registered users to access the content to a certain level charges a subscription fee to access it further.
Due to its innovative, easy to grasp, and personalized lessons for each individual, most of its users don’t hesitate to pay a certain amount of fee to access the whole content.
The credibility of the lessons and the teachers also play a crucial role in the growth of this learning app. All the teachers are IIT/IIM graduates with in-depth knowledge in their area of expertise and Raveendran himself is well renowned to crack one of the most competitive exams in India with 100 percentile.
Every student is provided with a personalized syllabus according to their aptitude and pace of studying. Mentoring and doubts are cleared by a personal teacher assigned to them and an in-depth analysis and feedback is also provided by the teachers.
THE SECRET SUCCESS STORY: BYJU’S BUSINESS MODEL
BYJU’s: The learning app is designed very carefully according to the needs of its target audience.
The curriculum is divided into three parts. The first part covers the syllabus taught in the schools from Class 4th to 10th of CBSE, ICSE, and state boards. The second part covers the higher classes 11th and 12th and prepares students for JEE, NEET, and BITS. The third part includes the preparation of highly competitive exams of IAS and CAT.
Apart from this, the learning app provides engaging video lessons, tailored programs for every student, shortcut techniques for better time management and cracking the complexity of the questions and a special parent connect app which is helpful for the parents in tracking their children’s progress.
Just after a year after its launch, in 2012 BYJU’s entered Deloitte Technology Fast 50 India and Deloitte Technology Fast 500 Asia Pacific ratings
In 2016, it bagged the “Best Self Improvement” app award at Google Play India rating. In 2017, it launched BYJU’S Math App for kids and BYJU’s Parent Connect app, and with this Byju’s business model became a Business Case at Harvard Business School.
It reached a total of 15 million users and 9,00,000 paid users in 2018 and in 2019, it became the world’s largest ed-tech company. Presently it is valued at $10.5 billion with a whopping revenue of over $78 million.
BYJU’S FUTURE PLANS
After conquering India’s education sector, BYJU’s is planning to enter into the international domain. It is preparing to enter the US, UK, and Australian markets, but the challenge would be of high risk as not many students go for higher education in the West and instead work part-time or a full-time job.