New Delhi. Online learning services firm Byju’s has raised around $300 million in funding from investors at a company valuation of around $18 billion. Investors include Edelweiss, IIFL, Oxshott Venture Fund, Variation Master Fund and XN Exponent Holdings. Byju’s has issued 77,174 shares to these investors at a price of Rs 2,85,062 per share. Of these, more than 40,000 shares have been bought by Oxshott alone.
Byju’s Becomes Most Valuable Private Internet Company
Byju’s has now overtaken Paytm to become the country’s most valuable private internet company at a valuation of $18 billion. Let us tell you that the value of Paytm is $ 16 billion. At the same time, Paytm is also preparing to raise funds through Public Offer (Paytm IPO) soon. Byju’s raised $350 million in early 2021 from UBS, Blackstone and a few other investors at a valuation of $165 billion.
read this also- Paytm IPO: Demand from foreign investors at a valuation of $ 20-22 billion, know when the public offer will be launched
Byju’s invested the money raised so far on the acquisition
Byju’s has received funds from several investors in the last 18 months. Most of this money has been spent on acquisitions. Byju Raveendran, founder and CEO of Indian online learning services firm Byju’s, is also planning to take the company public (Byju’s IPO) in the next 18 months. A very sharp increase has been registered in the online learning services in the country due to Corona. Apart from this, the interest of investors in investing in online companies like Byju’s has also increased rapidly on the technology sector in China.
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Orignally published at Tailored Stash
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