In business, two things make a person successful, one is hard work and the other is new thinking. A thought that either no one has tried before or worked on it so well. In the field of business, using these two methods, people have made the journey from floor to mirror. Today’s story is also of a person who gave a new shape to a big common currency and built a company of thousands of crores.
We are talking here about Byju Raveendran who gave a new look to teaching and touched the heights of success.
Who is Byju Raveendran?
Born in Azhikode, a small village in Kannur, Kerala, Raveendran belonged to a middle-class family. This son of a teacher’s parents received his primary education from the school in his village. After this, he completed his engineering studies from Calicut University. He inherited teaching from his parents.
This was the reason why Raveendran always wanted to become a teacher, but this could not be possible. After completing his studies, he got a job in a multinational shipping company. The job was found in some other field, but the dream of teaching did not come out of Raveendran’s mind. This was the reason that when he came to know that some of his friends were preparing for MBA, he made up his mind to help them prepare.
The CAT exam is considered to be one of the toughest entrance exams in the world. It was during his job that Raveendran thought about taking this difficult exam. Ravindran scored 100 percentile marks in this exam. Raveendran was not satisfied with his result and again took the CAT exam to see if he was really that capable.
Byju’s Idea came while teaching Tuition –
After toping the cat, he started coaching IIM entries to students instead of taking admission somewhere. The big thing was that he was giving free coaching to everyone in the beginning. The success rate of the students taught by Ravindran answered how effective his teaching technique was. This was the reason why the number of coaching players with him was constantly increasing. In 2006, where they had 40 students, their numbers increased by 2011 Even as their numbers increased 1,000. In 2009, he started an online video learning program for the first time for ‘CAT’.
Meanwhile, one of his students advised him to open his own online learning platform. Following this advice, Raveendran, along with his wife Divya Gokulnath, formed a company called ‘Think and Learn Private Limited’ in 2011. Five years later, in 2015, the company became known as ‘ByJu’s The Learning App’. Advertising plays a big role in making any business big.
Is this ByJu’s final –
Most people may know about Byju’s but tell those who don’t know that the way you use online apps for food, shopping, cabs, etc., just like byju’s app provides you with online education. This is a learning app where almost every kind of course preparation takes place. Whether it is the ABCD of the children or the preparation of competitive exams like IAS, JEE, NEET. About 70,000 people download the Byju’s app every day. With 9 lakh paid customers, the number of its users worldwide is about one and a half million. For any course, this app first gives a free trial of 15 days and after that students have to pay the course fees.
His teaching work, started by Ravindran Byju’s as an amateur, has been recognized all over the world today. Byju’s success can be gauged from the fact that it has recently bought medical and IIT entrance preparation Aakash Educational Services Limited for about $ 1 billion i.e. about Rs 7300 crore.
Opened with the suggestion of a student, this company has become India’s largest online education startup today. In March this year, 3,328 went there.Byju’s valuation was rs 95,000 crore by raising more funding. Now this valuation has increased to Rs 4,389 crore.It is believed that Byju’s is going to raise another Rs 4,500 crore from fund raising. If this happens, then the valuation of this startup will be $ 1,500 million i.e. about one lakh crore rupees. With this, the founder of this app, Byju Raveendran, has joined the list of Forbes’ billionaires in 2019.
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