After Toppr, Byju’s is in talks to acquire another online tutoring startup Vedantu
- Byju’s is reportedly planning to acquire Vedantu for $700-800 million.
- If successful, Vedantu would be Byju’s fifth acquisition in the last two months.
- Byju’s, Vedantu and Toppr are three of the biggest players in the kindergarten to grade 12 edtech domain in India.
AdvertisementThe world’s highest valued edtech startup Byju’s is reportedly in talks to acquire Indian rival Vedantu, which offers online tutoring programmes for school going children, for $700-800 million.
The decade-old edtech giant had also acquired rival Toppr last month, which too operates the same domain. Notably, Byju’s, Vedantu and Topper are three of the biggest players in this K12 (kindergarten to grade 12) domain in India. The acquisition would give Byju’s — which already has over 100 million students — a big push.
As per an Entrackr report, Byju’s and Vedantu have been in talks for the past few weeks and the talks are in an advanced stage now. The report also states that Vedantu has been in talks with both new and existing investors to close a new funding round at a valuation of $1 billion.
The seven-year-old startup was last valued at $600 million, in a $100 million Series A round led by Coatue.
Byju’s declined to comment on the report, when Business Insider reached out.
A Vedantu spokesperson said, “This information is completely false and no such discussions have taken place with Byju’s and we are not considering anything like this.”
Vedantu was founded by Vamsi Krishna, Anand Prakash and Pulkit Jain in 2014.
If successful, Vendatu would be Byju’s fifth acquisition in the last two months.
Earlier this year, Byju's had acquired Aakash, which has a network of 200 coaching institutes bought for $1 billion in April 2021.
|Toppr||Regulatory filings completed, yet to be announced officially|
Byju’s is now planning to focus now on the American market, as the USA is the biggest market outside of India.
AdvertisementAmazon wins the case to hold Mukesh Ambani’s Reliance from buying Kishore Biyani’s Future Retail
From Unacademy to Swiggy — Prime Minister Modi gets a request from founders of India’s biggest startups
PolicyBazaar investor Chiratae closes another fund at $337 million, with three portfolio startups ready to go public
Popular on BI
- India assures food aid to countries 'most in need' despite export controls
- ITC, Aditya Birla Fashion, LIC Housing Finance among stocks to watch out for on May 19
- Delhivery IPO: Here’s how you can check the allotment status
- Ways to save more money after your monthly expenses
- Xiaomi Pad 5 Review - Is it best Android alternate to iPad Air?