Byju Raveendran is the newest face on the Forbes list

Byju Raveendran is the newest face on the Forbes list

Byju Raveendran’s net worth stood $1.91billion. Byju Raveendran, the founder of BYJU’s learning app, has joined the billionaire club. The Bengaluru-based learning app’s parent firm, Think & Learn Private Ltd recently raised $150 million led by Qatar Investment Authority, a sov­e­reign wealth fund in Qatar. The deal placed the education app’s value at nearly $6 billion polevaulting Raveendran into the billionaire club. “There are six new faces this year, including Byju Raveendra, the 38-year-old founder of fast-rising edtech unicorn Byju’s. The other new faces include Manohar Lal and Madhusudan Agarwal of Haldirams, Rajesh Mehra of Jaquar, and Samprada Singh of Alkem Laboratories.

The latest round funding in Byju’s also included maiden investment from Owl Ventures, a Silicon Valley-based venture capital fund. Owl invests in education technology companies globally. Think and Learn Pvt. Ltd, which runs Byju’s, grew its revenue threefold in 2018-19 to Rs 1,430 crore and turned profitable on a full-year basis, according to media reports. In April 2019, BYJU’S crossed Rs 200 cr in monthly revenue and was expecting a revenue of over Rs 3,000 crore this year.

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Founded in 2008 by Divya Gokulnath and former teacher Byju Raveendran, BYJU’S offers a learning app, was launched in 2015. Raveendran developed the education app. It offers learning programmes for class 6-12 and test preparation for competitive exams JEE, AIPMT, CAT, IAS, GRE & GMAT. It has learning programmes for students in classes IV-XII along with courses to help students prepare for competitive exams like JEE, NEET, CAT, IAS, GRE, and GMAT. It claims to have 35 Mn registered users with 2.4 million paid subscribers.