Byju’s laying off its more than 12000 employees in name of the long-term growth
Byju’s
Byju’s is a leading educational technology company that offers learning programs for students from grades 4-12. Founded in 2011, Byju’s has helped over 30 million students worldwide to improve their grades and get ahead in their studies.
Byju offers a variety of learning programs, including personalized coaching, online courses, and video lessons. All of Byju’s programs are based on the latest research in learning science and are designed to help students learn faster and retain more information.
Byju’s also offers a range of resources for teachers, including lesson plans, teaching tips, and assessment tools. These resources are designed to help teachers effectively use Byju’s programs in their classrooms.
Reasons for growth in the rate of Byju’s online classes.
As the world becomes more and more digitized, it’s no surprise that the way we learn is changing too. Online classes are becoming more and more popular, as they offer a flexible and convenient way to learn. Here are some reasons why the growth in the rate of online classes is happening:
- Resources accessibility: When you take an online class, you have access to a much wider range of resources than you would in a traditional classroom setting. You can find online lectures, articles, and even entire courses from some of the world’s top universities.
- Flexibility: One of the biggest advantages of online classes is that they offer increased flexibility. You can study at your own pace and don’t have to worry about fitting class time into your already busy schedule.
- Interaction mode: In a traditional classroom, it can be difficult to get the attention of the professor or ask questions. With online classes, you can get immediate feedback and help when you need it.
- Engaging Content: Online classes often use multimedia content, making the material more engaging and interesting to learn.
- Convenience: Let’s face it, online classes are just more convenient. You don’t have to commute to campus, you can study anywhere you have an internet connection, and you can even take classes while you’re traveling.
These are just a few of the reasons why there is a growth in the rate of online classes happening and, as the world becomes more and more digitized, off course pandemic played a very crucial role in making teaching digitized as well, this trend is continuing even after the pandemics over, and this is how platforms like Byju’s gained parents’ and kid’s attention for kid’s personal growth.
Acquisitions by Byju from 2013 to 2021
- Osmo– which makes educational games, was acquired for $120 million.
- TutorVista– is a tutoring brand, that was acquired by Byju in 2017.
- Vidhyartha– Vidhyartha is a guidance platform for students, which was founded back in 2011 and partnered with more than 2000 CBSE schools around India
- Math Adventures– guides students through a variety of techniques, including posting brief recordings and engaging in other activities, was founded in 2013.
- White Hat Junior- It was founded in 2018, it is also an educational technology platform where students instruct coding via video online. WhiteHat software aids kids in learning computer programming. WhiteHat was acquired by Byju’s in Aug 2020 for approximately $300 million.
- Akash– Both a classroom and a digital platform were included, specifically made to prepare kids for competitive exams such as IIT, JEE, OR M.B.B.S. Aakash Educational was purchased by Byju’s for $950 million.
- Epic– Byju purchased the US-based kids learning platform Epic for $500 million. In the US, Epic has about 50 million subscribers and offers both free and paid access to digital books.
- Topper– Byju acquired this application in 2021 which is a higher education platform and after-school learning application. To buy it spent approx. amount of 150$ million for acquiring this particular.
The conflict
Byju’s, India’s largest ed-tech firm, is planning to turn out to be worthwhile by March subsequent year and is firing 5 computer workers and hiring 10,000 academics to attain this, in line with a report in The Economic Times.
This move comes as a part of Byju’s larger plan to chop prices and increase its income. The firm has already laid off over 100 workers this year and is now specializing in its core teaching enterprise. Byju’s was based in 2015 and has raised over $1 billion from buyers akin to Sequoia Capital, Sofina, and Tiger Global. It is valued at over $5 billion and is one of the most valuable startups in India.
The firm’s app has over 50 million customers and it’s taught over 10 million students in India. It has plans to develop its enterprise in different nations as well.
Byju’s is firing 5 computer staff and hiring 10,000 academics to turn out to be worthwhile by March subsequent year. This move comes as a part of Byju’s larger plan to chop prices and increase its income. The firm has already laid off workers this year and is now specializing in its core teaching enterprise.
The ed-tech business Byju issued a statement saying it was “optimizing” its teams across group companies in response to media reports that it had laid off 12,000 employees across its group companies, without any notice as it was claimed by few employees, they were asked to either leave the companies or they will fire which later was again denied by Byju’s.
For the masquerade, it was stated that less than 500 employees from the enterprises in Byju’s group are involved in the project as a whole.
The misleading information provided by Money control was firmly denied by Byju. it was further stated that to realign their business objectives and accelerate their long-term growth, they were making the most of the teams across all of the group companies. Less than 500 employees from Byju’s group enterprises were involved in the overall endeavor.
edited and proofread by nikita sharma
