Education technology platform Byju’s said it achieved profitability in the last quarter of 2016-17, making it one of the few new-age internet companies to touch that milestone. Founder Byju Raveendran said the company would be “super profitable” this year, and expects it will soon be a unicorn (private companies with valuation of $1 billion or more). In 2016-17, the platform had revenues of Rs 260 crore, up from the previous year’s figure of Rs 115 crore.
“Our losses in the last fiscal was only about Rs 15 crore. We will become a profitable unicorn very soon. There is so much inbound investor interest. But we are not chasing valuations,” said Raveendran at the launch of the platform’s upgraded app that has a new personalisation feature for students, as also a link that allows parents to track their child’s progress.
Raveendran said the learning app targeted at children in classes 4 to 12, which was launched in August 2015, has over 400,000 paid users, and some 8 million downloads. Users pay Rs 9,000 to Rs 10,000 a year for maths and the three main science subjects, physics, chemistry and biology .