BYJU’S triples its revenue to INR 1430 crore in FY 18-19; Profitable on a full-year basis
New Delhi: BYJU’S, the world’s most valuable Edtech company and India’s most popular learning app for school students, tripled its revenue to INR 1430 crore in FY 18-19 and also turned profitable on a full year basis. In April 2019, BYJU’S crossed INR 200 crore in monthly revenue and is estimating a revenue of over INR 3000 crore this year.
The growth in revenue was fuelled by deeper penetration across India and significant growth in the number of paid subscribers. Currently, the learning programs are available in both English and Hindi. BYJU’S is working on creating learning programs in different regional languages to ensure that students across regions can access quality learning content and teachers.
The company today has over 35 million registered users and 2.4 million paid subscribers; nearly doubling from 1.26 million in June 2018. On average, the overall renewal rate stood at 85% with most grades exceeding the 90% mark.
Byju Raveendran, Founder and CEO, BYJU’S – The Learning App said, “We have witnessed significant growth in the number of students learning from us and today, 60% of our students are from outside the top 10 cities. This high adoption rate is a clear indication that online learning is fulfilling a crucial need and is here to stay. We are also working on creating learning programs in multiple regional languages and we believe that this move will truly be a game changer in helping students learn in the comfort of their homes and in a language of their choice. While profitability is an important milestone for us, as a company our main focus continues to be on creating engaging learning experiences that will empower students to learn better. After all, the best part about being in this sector is the long-term positive impact you can make on the society.”
Over the years, BYJU’S has become synonymous with personalised and better learning for school students in India through its personalized learning programs. The average number of minutes a student spends on the app has increased from 64 minutes to 71 minutes over the last 12 months.