TutorVista and Edurite from Pearson are now part of BYJU’S.
03rd, July 2017 - News
BYJU an Edutech Startup acquired TutorVista and Edurite from Pearson. The deal will help BYJU to expand the service to international market and create diverse product portfolio.
TutorVista is an online tutoring brands catering to school and college students in the US and gets millions of visitors every month on its website from across the globe. TutorVista had acquired Edurite in 2007. Edurite offers a wide range of self-paced learning CDs with content based on cognitive learning approach.
Pearson had acquired 17% stake in TutorVista from K Ganesh and Meena Ganesh (Growthstory) in 2009. Later in 2011, Pearson further acquired 59% stake in the company for INR 577 Cr. and got the controlling stake of 80% post that.
Founded in 2011 by Byju Raveendran, BYJU’s offers learning programmes for class 4-12 & test preparation for JEE, AIPMT, CAT, IAS, GRE & GMAT. It launched BYJU’s–The Learning App in 2015. With 8 Mn users and 400K annual paid subscribers, BYJU’S creates personalised learning programs for individual students based on their proficiency levels and capabilities which help them learn at their own pace and style.
Earlier, in December 2016, BYJU’s raised an undisclosed amount of funding from the investment firm International Financial Corporation (IFC). Prior to that, in September 2016, BYJU’s raised $50 Mn funding led by the Chan Zuckerberg Initiative (CZI), which was founded by Mark Zuckerberg and Dr. Priscilla Chan, along with Sequoia Capital. This investment came in close after Sequoia India and Sofina infused $75 Mn in the company, in March 2016.
Other players in edtech space in India include – Embibe, Toppr, Avagmah, iProf, Meritnation, Simplilearn, among others. Let’s see how acquisition of Tutorvista and Edurite from Pearson will help BYJU’s enhance its product offerings and launch of its international products.
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