The company is now planning to go public. Though no date has fixed yet, Raveendran indicated that Byju’s could launch an IPO sometime around April 2023. “We are seriously thinking of an 18-24 month timeline to look at a public offering. But it can take a bit longer since we are in no hurry and will look at the right market timing,” he said shortly after announcing the AESL takeover.
The company has raised more than $2 billion from marquee investors such as like Sequoia Capital, Tencent, Tiger Global, Mary Meeker, Yuri Milner, Chan-Zuckerberg Initiative, and others. Some of them may want to exit if the valuations are right.
Meanwhile UpGrad, another leading Indian edtech start-up, has recently raised $120 million from Temasek, the Singapore sovereign wealth fund even as a smaller rival Lead School received $30 million from GSV Ventures, a Silicon Valley-based investor.