Byju’s is an Indian educational technology (EdTech) and online tutoring firm founded in 2011 by Byju Raveendran. The company was valued at US$12 billion in November 2020, and is among the country’s most valuable private internet companies. In July 2019, Byju’s won the sponsorship rights for the Indian cricket team jersey, replacing its former sponsor Oppo. Shah Rukh Khan is the brand ambassador for Byju’s. Tagline/Slogan is “Fall in love with learning”. Byju’s is an education tutoring app that runs on a freemium model, with free access to content limited for 15 days after the registration. It was launched in August 2015, offering educational content for students from class 4 to 1. In 2019 Early learning program has started for class 1 to 3. It also trains students for examinations in India such as IIT-JEE, NEET, CAT, IAS and international examinations such as GRE and GMAT. Academic subjects and concepts are explained with 12-20 minute digital animation videos. Byju’s reports to have 4 crore (40 million) users overall, 30 lakh (3 million) annual paid subscribers and an annual retention rate of about 85%.
Growth of Byju’s through out its journey:
2012: Honoured in Deloitte Technology Fast 50 India and also, Deloitte Technology Fast 500 Asia Pacific.
2015: Launched the learning revolution of India – BYJU’S App.
2016: Awarded by Google Play India as the ‘Best Self-Development App’.
2017: Created an online panel for the parents to track their child’s progress and BYJU’s Math App for kids.
2018: 15 million registered users out of which, 900,000 were paid subscribers.
2019: Recognized as the world’s most valuable ed-tech company.
2020: Earned Rs 2800 CR in Revenue
2020: Witnessed the busiest three months due to the impact of COVID-19.
Being an edu-tech company, BYJU’s target audience consists of every student/learner from grade one to students trying to crack entrance exams such as JEE, CAT, IAS or any other. The best digital marketing company in Delhi NCR understands that this is a great strategy considering the Indian education industry which includes over 260 million students in K-12 and more than 35 million students studying for their higher education.
BYJU’s operates as a Freemium business model where a lot of their services are offered for free but to gain access to the further content, users have to opt for a paid subscription. According to a report, in the fiscal year of 2019, BYJU’s revenue was recorded to a whooping Rs1,341 crores and a profit of Rs 20 crores. The top digital agency mentions that this unbelievable success is the result of the increase in the number of its paid subscribers and full-throttle marketing efforts.
First Mover Advantage – Byju’s has first mover advantage in number of segments. It has experimented in various areas Strategy. The Strategy & Execution solutions & strategies has helped Byju’s App in coming up with unique solution to tap the un-catered markets.
Diverse Products – Byju’s offer different varieties of products. Content is available in all type of formats like stories, visuals and theories as well. Also available in regional languages. They provide a wide variety of options to students.
Strong Finance – The company’s balance sheet shows strong financial position.
High Customer Retention – Byju’s is great in students engagement into any study material. Research proves that on an average a student spends minimum of 40 mins once they open Byju’s App.
Acquisition of competitor (White hat Jr. ) – Byjus has recently acquired White Hat Jr. for $300 million. Together they will provide coding classes to students.
Customer Loyalty – Customers are loyal towards the company because of the good quality products and services.
Low Return On Investment – Even when the company has strong balance sheet, the return on investment is low due to high expenses which it has to incure.
Bad Reviews – There is two sides of each coin. So, along with positive reviews there are also negative reviews by many customers who are not satisfied with the service and find it expensive.
Weak Inventory Management – The company faces challenges with proper inventory management.
Less US Children Enrollments – The company wish to grow in International market but the number of US Children enrollments is declining.