Byju Raveendran, the founder of edtech startup Byju's, has said the company is planning an IPO in the next 15-18 months.
"An IPO is very much on the cards, but not in 2021. Every other day, bankers are contacting me, but we are only looking at it in the next 15-18 months," Raveendran told Business Today during an interview.
India's most valued startup has raised $660 million in the capital this year alone. Raveendran said Byju's has been growing at 100 per cent year-on-year and now, amid the pandemic, the company's growth is getting accelerated on a higher base.
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"This year, we will grow much more than 100 per cent. If you have ambition, skill and access to capital, the perfect trifecta, nothing can stop you," he added.
As per Raveendran, over the next 15 months, doing a large IPO is a very big ambition. "It will hopefully motivate many more people to become entrepreneurs."
With a valuation of $16.5 billion, Byju's is the world's largest ed-tech venture and India's biggest unicorn. It is now in talks with several investors to raise $1-1.5 billion at a valuation of nearly $21 billion, a 27 per cent jump from the $16.5 billion valuation that it had achieved after the funding round in June.
The company is aiming at generating revenue worth $5-billion by 2023-2024, which could make it one of India's five most valuable companies.
Not only has Byju Raveendran's edtech company garnered generous fundings from investors, but it has also gone on an acquisition spree.
It has acquired Aakash Educational Services for $1 billion, Great Learning for $600 million, Epic for $500 million, Whodat for an undisclosed amount within months.
While the company had been doing well earlier too, the past two years have boosted its growth pace. It added around 25 million users during this period.
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