- Byju’s is in advanced talks with rival Toppr for a potential acquisition.
- Byju’s-Toppr deal is estimated to be about $ 120-150 million in size and could be closed in the next 2-3 weeks.
- Mumbai-based Toppr services the K-12 and test preparation market. It claims to have 35 million monthly active users.
The country’s largest ed-tech firm, Byju’s is in the advanced stages of talks to acquire a rival, Toppr, as per the report published in financial express, indicating the transaction could be around $150 million. Byju’s latest acquisition target underlines its aggressive expansion at a time when online learning is catching on.
Founded in 2013 by IIT Bombay alumni Hayath and Hemanth Goteti, Toppr uses AI based machine learning algorithms to personalise learning paths for every learner. It provides K12 syllabus coverage with thousands of course combinations and has over 16 million students on the platform.
The edtech space has seen strong growth globally, with the COVID-19 pandemic serving as an inflection point. In the past, Byju’s has acquired TutorVista, Edurite (from Pearson in 2017), and Osmo (in 2019). Last year, the General Atlantic-backed company had acquired coding training platform WhiteHat Jr for $300 million.