Ed-tech unicorn Byju’s raises another Rs. 80 Crore from General Atlantic and Tencent
Byju’s Learning receives another Rs 75 crore to Rs 80 crore funds from General Atlantic and Tencent.
Naspers Ventures fueled $540million in Byju in December 2018.
Byju’s present estimated value reaches $4
Byju Raveendran grabs highest 21.84% stake and Naspers holds82 % stake and Sequoia 14.2% share in the company.
Think and Learn, the owner and operator of Ed-tech platform Byju’s learning get another Rs 75 crore-Rs 80 crores from the world’s top fifth internet company and private equity major General Atlantic and Tencent.
According to filings of Byju’s with the Registrar of Companies, General Atlantic has previously in December pumped in 33.28 crores for over 4,000 compulsorily convertible cumulative preference shares or Rs 82,882.50 per share.
Prior to the latest fund infusion, Byju’s has three months before perished a $540 million equity financing led by Naspers Ventures. A Nasper venture is an investment arm of the South African internet and entertainment conglomerate, and Canadian Pension Plan Investment Board in December previous year which valued it at over $3.6 billion. The huge fund of $540 million was fueled in Byju’s after nine months of attaining parapet of a unicorn by Byju’s. General Atlantic having a value of $28 Billion in June 2018 has invested Rs 199.1 crore in Byju’s in December 2018, shelling out Rs 72,570 per share. The PE firm paid an additional Rs 10,312.50 per share this time around.
According to sources, the firm has also acquired shares from Byju’s co-founder Riju Raveendran and Sequoia Capital in a secondary transaction by spending Rs 367.8 crore in acquiring shares. Byju’s present estimated value is $4 Billion.
According to Vivek Durai, co-founder of paper.VC, “General Atlantic focuses to apply a systematic approach to private market investment in India. They believe in watering holes in financial services space.”
