Online tutoring startup Byju’s is the latest Indian ‘unicorn’ going global
- Byju’s, India’s largest online tutoring
startupand a recent entrant to the ‘unicorn club’, is looking to expand to international markets with the its latest acquisition of US-based Osmo.
- The acquisition comes just a month after Byju’s received fresh funding of $540 million that valued the company at $3.6 billion.
- Other Indian unicorns testing international markets include Zomato, OYO rooms, PayTm.
Its $120 million acquisition of Osmo, a US-based startup that makes
The acquisition of Osmo comes just a month after Byju’s received fresh funding of $540 million that valued the company at $3.6 billion. Byju’s, founded in 2015, is also now the fourth most valuable startup in India.
Byju’s had been planning overseas expansion for a long time by collaborating with partners in the UK, Singapore and Australia, among others. The deal is expected to benefit both companies since Byju’s was seeking to also become a ‘content-driven platform’ aimed at a younger audience — kids of three to seven years of age are Osmo’s target market. While Byju’s apps mostly target school kids across grades 4-12
Byju’s eponymous founder Byju Raveendran told Crunchbase the company currently has over 1,000 people dedicated to video and game development.
Other Indian unicorns in the league eyeing global expansion
India’s growing unicorns are now aggressively looking to test overseas markets, keen to have a global presence, and many have already seen some success.
The homegrown food delivery unicorn, Zomato, expanded internationally in 2012, starting with Dubai. Since then, the company has grown multifold with an array of acquisitions. In fact, Swiggy has been considering offshore expansion as well, but is currently focussed on hyperlocal services.
AdvertisementBucking the general trend of international companies expanding in the Indian market last year, digital wallets company PayTm launched its payments app ‘PayPay’ in Japan.
The hotel chain, OYO rooms, has also had a great year in terms of international investments. The company forayed into China, Japan, Spain and the UK among others. The company, with its offshore expansion, is looking to have nearly 2.3 million rooms internationally by 2023.
A 6-year-old Indian startup wants to be world’s biggest hotel chain
Software and Internet companies have stepped up R&D spending more than any other industry
The Indian government has reportedly invested just 19% of its fund dedicated to boosting startups
- Samsung beats Apple to secure the top spot in global smartphone market in 2020, says new report
- India records 11,666 new COVID- 19 cases in last 24 hours
- Apple says one billion iPhones are now active around the world
- Delhi hit with a low intensity earthquake of 2.8 magnitude
- FMCG: The trends to watch out for in 2021