Leading edtech company Byju's is all set to make its foray into professional and higher education segment with a $1 billion investment in Great Learning, a leading player. It comprises $600 million in cash, stock and earnout and $400 million investment for speeding up Great Learning's growth in India and global markets. The higher education startup also aims at providing high-quality offerings to its learners everywhere using this investment.
After this deal, Great Learning will continue to function under its current leadership of founder and CEO Mohan Lakhamraju and co-founders Hari Nair and Arjun Nair. "Empowering learners with the right futuristic skills forms a fundamental part of our vision. Great Learning is a globally recognised and reputed professional education company and this partnership expands our reach into this new segment," Byju's founder and CEO Byju Raveendran said on the deal.
Raveendran also elaborated on the joint commitment of Byju's and Great Learning to equip professionals with high-quality and industry-relevant educational programs. "Together with Byju's, we will be able to accelerate our progress towards this goal and meet the growing need for upskilling both in India and around the world," Great Learning founder and CEO Mohan Lakhamraju said. Lakhamraju further noted that Great Learning and Byju's aim to leverage their strengths in terms of pedagogy, instructors, technology and content to create learning opportunities at affordable prices for everyone.
Great Learning was founded in 2013 and has delivered more than 60 million learning hours to 1.5 million learners from over 170 countries. The company has collaborated with well-known universities like Stanford University, McCombs School of Business - University of Texas at Austin, Northewestern University, Massachusetts Institute of Technology (MIT), National University of Singapore, IIIT Delhi, IIT Madras, IIT Roorkee, IIT Hyderabad and Great Lakes Institute of Management among others to offer Degree, Diploma and Certificate programs.
Edited by Mehak Agarwal
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