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Naspers Leads US$540 million investment in BYJU’S

Naspers Leads US$540 million investment in BYJU’S
Media release
17 December 2018

Naspers Leads US$540 million investment in BYJU’S, one of the world’s largest edtech companies
New funds
will fuel international expansion and further personalise learning
 
Naspers, a global internet and entertainment group and one of the largest technology investors in the world, today announced it has led a combination primary and secondary US$540 million investment in BYJU’S, the creator of the most popular K-12 learning app in India. A significant portion is also being contributed by the Canadian Pension Plan Investment Board (CPPIB). The investment will drive the BYJU’S team to further innovate, explore and set new benchmarks for tech-enabled learning products. The company has plans for international market expansion and will make bold investments in technology that will help to further personalise learning for students. The investment in BYJU’S also represents Naspers’ commitment to India across multiple sectors, and the company’s ongoing investment in entrepreneurs that are building leading technology companies in this high-growth market.
 
Launched in 2015, BYJU’S Learning App is the leader in offering personalised learning programmes for school students in 4th-12th grades in India. Delivering world-class learning experiences, the learning app merges videos, interactives and teachers to bring concepts to life. It also adapts to the unique learning style of every student, adjusting to the pace and style of their learning. More than 30 million students have used the BYJU’S Learning App and it has amassed over 2 million cumulative annual paid subscriptions, with an average engagement of 64 minutes per student daily.
 
Talking about the new investment, Byju Raveendran, Founder & CEO, BYJU’S – The Learning App, said, “We are happy to have prominent and long-term partners like Naspers and CPPIB on board with us. This partnership will strengthen our ability to deliver on our vision to build the world’s largest education company. India has the largest population attending primary school in the world and Indian households are willing to invest a lot in their children’s education because a good education is viewed as the best path to success. I believe the importance of quality education amongst the entire population in India fueled our ability to create an engaging and high-impact learning app.”
 
Byju further added, “While near-term profitability is important for us, as a company our main focus continues to be on long-term sustainable growth. The edtech industry is undergoing massive shifts; students today want to learn through engaging and interactive methods. We are pioneering ‘better learning for tomorrow’ with technology as an enabler and we have been working towards making students active learners. It is only through active learning that we can prepare our youth for jobs of tomorrow.”
 
“Naspers partners with high-potential companies that are tackling big societal needs like education, which represents a significant sector ripe for disruption across the globe,” said Russell Dreisenstock, Head of International Investments, Naspers Ventures. Dreisenstock, who will be joining the BYJU’S Board of Directors further stated, “With the largest school-age population in the world and a growing middle-class with the willingness to commit significant resources towards quality education for their children, BYJU’S is perfectly positioned to provide an effective supplemental education solution for students across India.  We partnered with BYJU’S because we believe the company’s success in India will translate across borders in any country where students are looking for an innovative and engaging form of education beyond the classroom.”
 
In addition to BYJU’S, Naspers has built a significant edtech portfolio investing in companies with leading businesses around the world. The portfolio includes Udemy, the leading global marketplace for learning and instruction, Brainly, the world's largest social learning community, Codecademy, an online interactive platform to learn to code and SoloLearn, a mobile-first community learning platform where students can learn, create, and share programming content. The education market globally is ripe for technology disruption.  Global trends including increases in population, smartphone usage, middle-class spending, and a growing youth population will require education to be revamped, as traditional educational institutions become unable to service all students and students demand a new way of learning.
 
- ENDS -
 
About Naspers
Founded in 1915, Naspers is a global internet and entertainment group and one of the largest technology investors in the world. Operating in more than 120 countries and markets with long-term growth potential, Naspers builds leading companies that empower people and enrich communities. It runs some of the world’s leading platforms in internet, video entertainment, and media.
 
Naspers companies connect people to each other and the wider world, help people improve their daily lives, and entertain audiences with the best of local and global content. Every day, millions of people use the products and services of companies that Naspers has invested in, acquired or built, including Avito, Brainly, Codecademy, eMAG, ibibo, iFood, letgo, Media24, Movile, MultiChoice, OLX, PayU, Showmax, SimilarWeb, Swiggy, Twiggle, and Udemy.
 
Similarly, hundreds of millions of people have made the platforms of its associates a part of their daily lives: Tencent (www.tencent.com; SEHK 00700), Mail.ru (www.corp.mail.ru; LSE: MAIL), MakeMyTrip Limited (www.makemytrip.com; NASDAQ:MMYT) and DeliveryHero (www.deliveryhero.com; Xetra: DHER)
 
Naspers is listed on the Johannesburg Stock Exchange (NPN.SJ) and has an ADR listing on the London Stock Exchange (LSE: NPSN). For more information, please visit www.naspers.com
 
About BYJU’S – The Learning App
BYJU’S is India’s largest education company and the creator of India’s largest personalised K12 learning app, which offers highly-adaptive, engaging and effective learning programs for students in classes 4-12 (K-12) and competitive exams like JEE, NEET, CAT, IAS, GRE and GMAT. Launched in 2015, BYJU’S has become the most loved and preferred learning app for students across age groups.
 
The BYJU’S learning app makes use of original content, rich animations, interactive simulations and engaging video lessons from India’s best teachers. Today, BYJU’S has over 30 million registered students and two million annual paid subscriptions. With an average time of 64 minutes being spent by a student on the app every day from 1700+ cities, the BYJU’S app is making learning enjoyable and effective.
 
Delivering a world-class learning experience, BYJU’S is making learning contextual and visual, not just theoretical. The app has been designed to adapt itself to the unique learning style of every student, as per the pace of learning, size of learning and style of learning. The learning app is paving the way for new-age, geography-agnostic learning tools that sit at the cross section of mobile, interactive content and personalised learning methodologies.
 
To date, BYJU’S has raised funds from Naspers, CPPIB,  General Atlantic, Chan-Zuckerberg Initiative, Tencent, Sequoia Capital, Sofina, Verlinvest, IFC, Aarin Capital, Times Internet and Lightspeed Venture Partners.
 
To learn more about the company, please download the app (Available in Play Store & App store).
 

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