Edtech startup BYJU’s is reportedly in talks to acquire US-based gaming and learning startups to expand its footprints internationally. The focus is on companies providing learning solutions for lower grades starting from kindergarten.
The deal is expected to be closed in the next six months and the ticket size of the potential acquisition(s) could be in the range of $5 Mn-$30 Mn.
“We are looking at companies with good products. If there’s a company with a strong set of games, say 100 games for lower grades, it’s a potential target for us. We are evaluating some of these options in the US. This is to accelerate our growth and to make our product more comprehensive,” said Byju Raveendran, founder and CEO, BYJU’s, in a statement to TechCircle.
Also, the company will soon be launching the international version of its app, targeting school students in countries such as the US, UK, Australia, and South Africa.
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Byju further added, “If you want to create two more big markets at that point in time or make some very large acquisitions, say in the range of $100 million, we will be required to raise a new round. Compared to a year back, it is easy to raise money for companies with fundamental models. But we can very comfortably make some acquisitions now and still have a strong run rate with the current model.”
Near the end of 2016, BYJU’s raised an undisclosed amount of funding from the investment firm International Financial Corporation (IFC), with an aim to enable BYJU’s to further its plans to make quality education accessible for students across the nation as well as in international markets.
Earlier in September 2016, BYJU’s raised $50 Mn funding led by the Chan Zuckerberg Initiative (CZI), which was founded by Mark Zuckerberg and Dr. Priscilla Chan, along with Sequoia Capital. The investment came in close after Sequoia India and Sofina infused $75 Mn in the company in March 2016.
Founded in 2011 by Byju Raveendran, BYJU’s offers learning programmes for class 6-12 & test preparation for JEE, AIPMT, CAT, IAS, GRE & GMAT. It launched BYJU’s–The Learning App in 2015.
[The development was first reported by TechCircle.]