Byju’s Raveendran now richer than Rakesh Jhunjhunwala, Anand Mahindra
Tags: byjus, raveendran
Byju’s Raveendran now richer than Rakesh Jhunjhunwala, Anand Mahindra
NEW DELHI: Byju’s has been on a dream run. The company has seen its business grow rapidly during the pandemic, acquired a number of its competitors and become the most valuable startup in the country.
With this, the company founder Byju Ravindran and family have also swelled their fortunes, making them richer than the families of Rakesh Jhunjhunwala and Anand Mahindra.
Byju Raveendran & family’s wealth stood at Rs 24,300 crore, according to the IIFL Wealth Hurun India Rich ..
The company has been on an acquisition spree in last one year, funded by VC (venture capitalist) money. In April 2021, it acquired Aakash Educational Services in a Rs 7,300 crore cash and stock deal.
Additionally, it acquired Singapore-based Great Learning for Rs 4,500 crore and a California-based kids digital reading platform for Rs 3,700 crore. Besides, it has also acquired a number of small startups, consolidating its presence in the Indian education system.
As per an estimate, Byju’s spent more than Rs 15,000 crore on acquisitions this year.