The Indian cricket team might sport the BYJU’S logo on their jersey after the upcoming West Indies tour.
In March 2017, Oppo won the bid for the sponsorship rights for 5 years; outbidding Vivo mobiles with a bid of ₹ 1,079 crore. But the Chinese smartphone brand now feels that the price is too high and unsustainable.
The rights will now be transferred to BYJU’S at the same price and BYJU’S will retain the rights till March 2022. This comes at an opportune moment for BYJU’s as they are looking to expand overseas, and what better wave to ride on than the success of the Indian cricket team!
BYJU’S is the common name for Think and Learn Private Ltd., a Bangalore-based educational technology (edtech) and online tutoring firm founded by Byju Raveendran and Divya Gokulnath in 2011. BYJU’S offers a learning app and learning programmes for students. They also offer courses that help students prepare for competitive exams like JEE, NEET, CAT, IAS, GRE, and GMAT. The company has been in the news for its phenomenal success and for raising multiple rounds of funding. Presently valued at $ 5 Billion (₹ 37,000 crore), it has raised over $819.8 Million funding from investors such as General Atlantic, Tencent, Naspers, and Canada’s Pension Plan Investment Board (CPPIB) among others.
By sponsoring the Indian cricket team, the company will draw eyeballs around the globe, giving it the brand recognition it needs to take on edtech companies around the globe. Already the world’s most valued edtech company, it looks like BYJU’S all set on its course to become a global giant and show that the Indian start-up dream is very much real.