Is BYJU’s Acquiring Vedantu?
Soon subsequently acquiring Aakash and Great Learning, BYJU’s is in talks to buy the live online learning platform Vedantu. The acquisition of the online live learning platform is likely to be around $600-$700 million.
BYJU’s now has entered all three segments of education in India – school, test prep, and upskilling. Byju’s, which has spent over $2 billion in acquisitions in the last six months had recently acquired Great Learning for $600 million.
Vedantu, in an official statement, informed that even though talks have taken place with BYJU’s late last year, no deal has been finalised. The live learning platform said that they are “not considering” selling the platform.
Talking to moneycontrol.com earlier, BYJU’s had said that it will invest $400 million more in the upskilling segment. “This is the right time we are entering this space and entering in a big way. This is one of our largest acquisitions and we will be investing more to scale this in India and abroad,” BYJU’s had informed.
In an interview with moneycontrol.com, BYJU’s said that the sector has been “grossly under-invested” and “completely neglected by everyone” and there is an “opportunity to redefine this space globally”.
“For most people going forward, this is going to be standard behaviour, just like a health check-up and car upgrades, you will be upgrading skills as well. There has been a massive expansion of upskilling space. India and Indian ed-tech will define how everyone will learn globally. Most of our models are very innovative. We are far ahead of the US ed-tech companies in that way,” Byju found Raveendran told Chandra R Srikanth and M Sriram of moneycontrol.com
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