2/26/2024 0 Comments Austriabased geogebraGeoGebra's partnership with Byju's will help millions of students learn mathematics in an interactive way, in turn making them overcome their fear of math and learn to master it, he added. Our shared passion for learning and teaching resonates with Byju's, making them a perfect partner for our onward journey," Hohenwarter said. “GeoGebra was born out of a passion to help students learn math in a visually appealing and engaging manner. The curriculum is available in multiple languages for students around the world. GeoGebra has a community of over 100 million learners across more than 195 countries, brings together geometry, algebra, spreadsheets, graphing, statistics and calculus in one easy-to-use format. “Together with our combined strengths, we will have a wider reach and the best resources to build innovative and exciting next-generation learning formats," she said. Kishore added that with GeoGebra on board, the company will "continue to further enhance, reimagine and transform the way Math is taught and learned". Designed to improve mathematical understanding, it offers significant features that provide interactive resources that adapt to every child’s style and pace of learning," said Byju's Chief Strategy Officer Anita Kishore. “The GeoGebra team has built a powerful and stimulating platform that complements Byju's mission of providing impactful learning for students. The remaining $12 million will go in cash.GeoGebra - which offers a dynamic, interactive and collaborative mathematics learning tool - will continue to operate as an independent unit within the Byju's group under the leadership of its founder and developer Markus Hohenwarter. The total purchase consideration to acquire GeoGebra is $24 Million which include $9.6 million worth shares to the company’s founder Markus Howenwater and $1.2 million worth shares each to the other co-founders Stephen Jull and the company’s CTO Michael Borcherds. Tiger Global will get Rs 23.31 crore whereas Kalysta Capital will receive Rs 14.88 crore after the acquisition.įor Austria-based GeoGebra, Byju’s has allotted 3157 Series F preference shares to shareholders of GeoGebra to acquire 50% stake in the company. Entrackr had exclusively reported about the potential acquisition of Hello English by the Bengaluru-based company.Īs per the regulatory filings, Byju’s has allotted shares worth Rs 80.5 crore to shareholders of Hello English as consideration for a swap of 90,351 shares in the Tiger Global-backed company held by them.Īs a part of the deal, Hello English’s founders Nishant Patni and Pranshu Bhandari will receive Rs 28.05 crore and Rs 14.02 crore respectively. According to a TechCrunch report, Byju Raveendran has financed his $400 million investment in Byju’s through a debt he raised from multiple international banks.Īs per Fintrackr’ s estimates, Byju’s will be valued at around $21.42 billion.Īpart from the funding round, Byju’s has also disclosed details about its recent acquisitions including Hello English and GeoGebra. The company has passed a special resolution to allot 219,635 Series F preference shares for a total cash consideration of Rs 7425 crore or close to $1 billion.īyju Raveendran has infused Rs 3000 crore in this round followed by Oxshot Capital, Sumeru Global Digital Fund, AMS Investment Management, Bearnaise Lux SCSP, BlackRock, Sasa Holdings and Redspring Innovation Partners which invested Rs 1200 crore, Rs 1147.5 crore, Rs 960 crore, Rs 600 crore, Rs 400 crore, Rs 112.5 crore and Rs 5.02 crore respectively.įollowing the fresh issue of shares, the promoters’ group which includes Byju Raveendran and family now retain 22.13% stake in the company. While Byju’s did not divulge much details of the new round, Fintrackr has decoded it through the company’s regulatory filings. Edtech company Byju’s was recently in the headlines for an $800 million funding round in which the Bengaluru-based company’s founder and CEO Byju Raveendran also invested $400 million.
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