byjus case study

BYJUICE is a popular educational app that was founded by Baju Ravindran and Divya Gokulnath in 2011. It gained popularity with 2 million downloads in just 3 months. The app offers interactive videos, games, and quizzes for students. During the COVID-19 pandemic, BYJUICE experienced significant growth due to the increased demand for online learning. The company attracted global investors and underwent significant funding rounds. However, BYJUICE has also faced challenges post-pandemic, including layoffs, financial struggles, and a slowdown in online learning. The app uses a freemium business model, where basic content is available for free and advanced content requires a subscription. BYJUICE's revenue primarily comes from subscription fees. Despite facing challenges, BYJUICE remains a popular and successful platform for online education. Today we will be talking about a case study of BYJUICE. In this video, we will be looking into the making of BYJUICE, business model of BYJUICE, money making strategy of BYJUICE, achievements and expansions, their challenges and most important, downfall of BYJUICE, reason for bankruptcy and at the end we will look at the conclusion. Everyone knows about BYJUICE, BYJUICE was founded in 2011 by Baju Ravindran and Divya Gokulnath. Baju Ravindran, a teacher and engineer started Think and Learn Pvt. Ltd., the parent company of BYJUICE, in 2011. BYJUICE launch is the flagship product BYJUICE, the learning app in 2015 which quickly gained popularity with 2 million downloads within just 3 months. The app offers interactive videos, games and quizzes for students which was very new at that time. BYJUICE growth surged during the COVID-19 pandemic due to the increased demand for online learning and traditional classrooms were closed as we all know. The company attracted global investors and underwent significant funding rounds leading to acquisitions like Akash Educational Services, Epic Osmo and White Hat Junior. Despite its initial success, BYJUICE has faced challenges post-pandemic, may it be including layoffs, governance issues, financial struggles and a slowdown in online learning, leading to the questions about its financial health and the governance practices. BYJUICE business approach relies around EdTech which is educational technology and distance technology and mobile learning services. In March 2019, BYJUICE was named the world's most valuable EdTech business and its learning software is known as Think and Learn Private Limited. We are all aware that education is an unavoidable necessity of man. It puts people on the path of success and helps them realize their life goals. There are several methods of learning and teaching. Some tools and software that provide online study assistance can help improve the teaching learning process. BYJU being one of the greatest online educational firms has taken the effort to introduce improvement in education system so that students can study and master lessons and concepts in a personalized manner. In this essay, we will dwell into the realm of BYJUICE business model and how they transformed online education technology. So, let's get started. Beginning of BYJUICE Ravindran, BYJU is a magician from Azicores, a coastal resort in Kerala in India. He began his career as a designer for a UK-based corporation. He had his initial in-linkings about schooling teenagers in the 11th and 12th grades. In 2006, he established BYJUICE, a beneficial teaching technology. The goal was to redesign how pupils study and make learning a more enjoyable process. History of BYJU's Ravindran BYJU worked for a shipping company situated in the United Kingdom. When he returned to India for the vacations, he assisted some of his friends in passing the Common Aptitude entrance exam. BYJU's confidence in his approach, after watching his peers perform all their tests, his pals were also able to persuade him to start teaching online to assist others and students attempting to pass various tests. BYJU was regarded as a mentor by all of his acquaintances, which pushed him to do more good actions for society through his educational services. He then began receiving requests from friends of his friends to educate them because he was a wizard and highly efficient in teaching techniques. BYJU began using VSAT to host videos of these lectures in 2009. These videos aired in over 45 cities across the country. BYJU quickly received more than 1,200 requests from students for online coaching. It prompted him to reach to a larger audience. He then recognized the importance of enhancing learning to assist students in developing conceptual capacities. That is why he decided to train the students to bridge the gap between what they have learned and how they need to apply. Due to the massive popularity and attention gained by BYJU's classes, he then decided to quit his job and become a full-time tutor. This was all about the background of Ravindran. Now let's talk about the launch of BYJU, the learning gap, the establishment of BYJU. BYJU continued to teach people until he came up with the bright concept of presenting his lecture and other teaching materials online. Teaching online was the most convenient way for BYJU to provide his skills to individuals who are in need. The app was first released in 2015. It received a huge response from students, with over 5.5 million downloads in just one year. Children in high demand for online instruction saw BYJU's as a solution to their dilemma. BYJU continued to teach students until he came up with the brighter idea of putting his lectures and other teaching sources online. BYJU found that teaching online was the most convenient approach to share his abilities to those who are in need. What were the goals and visions that BYJU consisted? Mr. Ravindran BYJU was always clear about his goal in the realm of teaching and education. He intended to make the process more holistic by sharing his experiences, communicating with the students, and assisting them to participate in applying their knowledge. These were the gaps and the breaches in the education system which hampered students' learning. As a result, his major goal was to close these gaps by providing additional knowledge and improving instructional materials. BYJU's platform is as neutral as it gets. This app does not only target the bright and exceptional students. Instead, it aims to stimulate people who are inclined of the study. BYJU has always attempted to develop conceptual comprehension of subjects by teaching pupils from the beginning. The given instructional materials attempt to break up the monotony of school teaching schedules. Students studying online frequently find the same practice as live teaching to be tiresome. There are more than just textual chapters. There are quizzes, there are games, there are engaging tasks. Reading sources assist students stay focused and interested while also prompting learning. Now, if we talk about the challenges which came in the way of BYJU. The early stages of business were not simple. Certain causes threatened BYJU's prosperity. In 2015, various apps and platforms operated in the same domain. They were competition with BYJU's. BYJU's always have confidence in the quality of service they supplied to their platform and never hesitated to fight back. However, Ravindran BYJU recognized that his material and presentation had the potential to reach millions and capture their attention. He also created a freemium approach in which certain fundamental content was available to everyone for free. That means everyone could access some of the fundamental content without paying anything for the app. This helped pupils understand the level of instructions provided by BYJU's. As a result, BYJU started enrolling a higher number of students for their freemium teaching services. This helped them gain further funding to expand its operation internationally. Now, let's talk about successes of BYJU's and their reasons. So, the success of BYJU's can be ascribed to a variety of things, including the quality of educational material and how it was presented. However, the key factor driving BYJU's success is the relationship that it fosters with its people. To the students, BYJU was more than just a place to learn. Students said BYJU's were the most entertaining way for them to learn and improve. They enjoyed the process. Students enjoyed the apps, videos, tutorials. BYJU's also created educational content in a variety of engaging performances, like including quizzes, live actions, and animation-based learning. To broaden their consumer base in India, BYJU recognized the importance of creating videos in multiple languages. They also wanted more students to be able to learn through them and through their platform. The app now offers videos in Hindi and English. However, they are also attempting to create content in regional languages. The software personalizes the education material for each person. It provides them with a unique workout regime. It collects information about the student's aptitude and comprehending the power, and then curates content for those students. This type of learning has helped students to prepare for exams and offer themselves a thorough revision. In 2017, BYJU's The Learning app expanded into two more apps. BYJU's Math app and BYJU's Parent Connect app. The Parent Connect app allows parents to keep a track of their children's learning and progress. This was one more reason why parents were attracted towards BYJU. Now let's talk about how did BYJU make the money? BYJU's business approach may be described as premium. It signifies that the content is free, but advanced content requires a subscription. The strategy draws a large number of students. Once people realize how wonderful the app and the content are, they will feel compelled to subscribe to the paid services. The premium-based business model is comparable to the concept of sample sales. Students are permitted to view a sample video for a basic video. If they like the video, they can buy it in quantity, which is known as a subscription. The entire education system has moved to online process. In the fiscal year of 2018, BYJU's earned 490 crores, and in the fiscal year of 2019, it earned 1,341 crores as the revenue. Due to coronavirus, the entire education system has processed to online. Most companies who are just starting out their education technology platforms are now facing BYJU's classes monopoly in the market. During the pandemic, BYJU has emerged as the most popular forum for the students in India. This boosted BYJU's growth forecast to more than 200 in 2020. BYJU's revenue is mostly derived from the subscription fee. However, in order to increase their income growth this year, BYJU has released additional goods such as BYJU's online tutoring and other learning programs. International expansion of BYJU's is also a very big topic to talk about. So let's get into it. BYJU's currently operate from India and the Middle East. In the fiscal year, it intended to enter European, American, African, and Commonwealth markets. In 2019, BYJU purchased Osmo, a US-based education game developer, for $120 million. By making this investment, BYJU hoped to launch its operation in the American market, leveraging Osmo's exciting client base and capability. However, BYJU is currently preparing to complete its Accent Adjacent Program for US students. BYJU is presently collaborating with Disney to promote and expand its services focused on children aged 6 to 8. In this contract, BYJU pays getting license for many business characters to utilize them for teaching mathematics and science. In addition, BYJU is currently collaborating with a lot of other cool TV channels to make investment in cartoons. It helps to expand and extend BYJU's consumer base, adding thousands of young children to their list. Everything that goes up has also a way to come down. And thus, downfall of BYJU started. Let's talk about it. Since September 2022, BYJU's significant EdTech player came in the market and they had a financial issue in 2021. The company has been in financial difficulty. This has harmed the group's reputation, resulting in raids by enforcement, direct raids, and lawsuits filed against lenders. Even if BYJU as an online education platform has been a huge success, it is important to remember that any conjecture about why it might fail should be approached with care. However, the following speculative competence may cause the issue or failure for BYJU. First, Junior White Hat Flop. Several white hat advertisements with the slogan, learn to code and change the world. And now every youngster in India learns to code, makes apps, and change the world are more likely to be seen during the COVID two years ago. How children as young as seven were contributing to Google and lecturing at TED. Since COVID is no longer in operation, many experts believe that coding trend has ended. As a result, it would be better for BYJU to close down White Hat Junior. However, the company's founder refused to do so, stating that even if the program did not work well, India's instructors and students profited greatly from it. Second, the advertising costs of BYJU. Major athletes and celebrities such as Neeraj Chopra, PV Sindhu, and Shah Rukh Khan served as the brand ambassadors. BYJU sponsors the Indian cricket team as well as the FIFA World Cup. As you can see, there were big events with well-known participants. BYJU had to spend a significant amount of money to secure each of them as the brand ambassadors. Last year, BYJU spent more than over 2000 crore on marketing. Last year, BYJU spent 32% of their budget on marketing. Next, scalability problems. BYJU's swift expansion into new markets and rapid growth may cause scalability issues. It can be difficult to create scalable and tailored learning experiences. And failing to meet high standards may have a negative impact on the customer's happiness and retention. Fourth, evolving educational landscape. BYJU may experience issues if it is sluggish to change or match the offerings with the changing demands of students and instructors. Changes in educational legislation, instructional methodologies, or curricular requirements may potentially cause issues for BYJU. Technological setbacks is the fifth reason. BYJU relies largely on technology infrastructure to deliver services, which offers some technological hurdles. Users may become unsatisfied with the substantial technological falls, cybersecurity breaches, or service outages, threatening to the company's viability. Sixth is subject coverage is limited. BYJU lays a heavy emphasis on core subjects such as physics and mathematics. The platform may be less appealing to a broader range of students and educational needs if it does not provide comprehensive coverage to other courses as well as a round-all educational experience. Next we have the seventh reason, that is negative user reviews. Negative user experiences and reviews can have a significant impact on BYJU's trustworthiness and reputation. A large number of dissatisfied users exposing their problems in public may cause people to lose faith in service, resulting in a decrease in its popularity. It is important to mention that BYJU has millions of users and has tremendous success. These potential failure factors are theoretical and may not truly represent the company's current status. BYJU has exhibited adaptability and commitment to innovation and it's still evolving to keep up with the changing educational landscape. Final thoughts about BYJU. Listening all to this, we came to a conclusion that BYJU has altered the educational map and services sector. It has resulted in a revolution in educational program and teaching methodology. BYJU's business idea is ingenious and incredibly profitable. This business concept has helped BYJU to grow into a corporation worth 3,000 crore rupees today. This business model is suitable for companies looking to expand their educational business online. BYJU has successfully redefined the concept of online tutoring. It has simplified the lives of teachers and students by giving the most valuable resources in the practical manner. BYJU is some source of inspiration for today's online educational technology and startups. Have you ever used BYJU's learning application? How did you find it? What role do you believe BYJU's business strategy will play in changing online education India? Share your thoughts in the comment section below. This was all that we could talk about BYJU's. I hope we catered to all the questions that you were looking for. If you like this video, then please like, share and subscribe to our YouTube channel. And do follow us on our Instagram page, Twitter, Facebook and our website. If you like us, please recommend us to your friends and stay tuned for trending news and in-depth information. This is your host, Mubashera Sagireen, from the team of Life2, signing off. Thank you.