NEWDELHI(NewsTimePro):
Akash Educational Services Limited (ESSL), the largest entry-level test preparation company, has acquired BYJUS the largest online start-up company in the country’s education sector. BY-JU was reportedly bought by Akash for Rs 7,300 crore. Even after this acquisition, Akash will be managed as a separate entity. Its founders Akash Chowdhury and JC Chowdhury will continue to be in charge of its management. Following the agreement, shares of Baijus were donated to the founder of the sky and Blackstone.Following the agreement, Baijus was valued at about $ 13 billion, or about $ 95,000 crore. Investors in BYJUS include Mary Mickey, Yuri Miner, Chan Zuckerberg Initiative4, Tennessee, Sequoia Capital and Tiger Global.
According to Akash Chowdhury, it is the largest partnership in education in India and especially in startups. “Everyone is focusing on online education because of Kovid-16, and we believe that it will help children in higher education as well as in preparation for exams.”
