Here s why BYJU’S may want to spend a billion dollars on physical coaching centres
Here s why BYJU’S may want to spend a billion dollars on physical coaching centres
Sanchita DashJan 13, 2021, 16:21 IST
BCCL
BYJU’S is reportedly set to acquire the brick and mortar preparatory services institute Aakash Educational Services for a whopping $1 billion.
If the deal goes through, it will become one of the biggest edtech deals in the world.
Interestingly, Aakash Educational Services in November 2020 had appointed Abhishek Maheshwari as Chief Executive Officer (CEO) of the company. Maheshwari was earlier the President of International Business for BYJU’S.India’s edtech unicorn BYJU’S is reportedly set to acquire the brick and mortar preparatory services institute Aakash Educational Services for a whopping $1 billion. If the deal goes through, it will become one of the biggest edtech deals in the world.
Small-town dreams to $1 billion valuation: How Aakash Educational Services grew wings
Byju’s is in talks to acquire Aakash Educational Services in a billion-dollar deal. But what makes this coaching-led education company founded by JC Chaudhry tick? How did it become the target of an acquisition? Read on to find out
Aakash Educational Services founder JC Chaudhry and son Aakash. Picture Courtesy: Forbes India
From a tiny coaching centre in Delhi to a Rs 1,200-crore-plus annual turnover, Aakash Educational Services (AESL) dreamt big ever since its launch in 1988 (as Aakash Institute). Starting a coaching business at a time when this was still a novel concept, founder JC Chaudhry ensured that the company stayed relevant to changes in the educational needs of students.