Edtech startup Byju's will soon sign a deal to complete the acquisition process of rival Toppr Technologies Pvt. For this acquisition, Byju's is shelling out USD 150 million, as per the , to complete this acquisition.
Byju's has been aggressively expanding its presence across the educational space -- online and offline. SAIF Partners and Helion Ventures-backed Toppr is an online player and the latest company to be acquired by Byju’s.
The company has explored the opportunity made available to online education which is created by the COVID-19 pandemic.
In January, Facebook-backed startup acquired test prep leader Aakash Educational Services Ltd for USD 1 billion. Not to forget, it also acquired startup WhiteHat Jr for USD 300 million.
The valuation of Bangalore-based Byju’s is estimated to be around USD 11-12 billion.
The app has around 70 million registered students and 4.5 million annual paid subscribers, as per the company. The company has doubled its revenue to Rs 2,800 crore in FY19-20 from Rs 1,430 crore in the previous fiscal.