Byju's

active

Think & Learn Private Limited (“BYJU’s” or the “Company”) was founded in 2011 in Bangalore, India, and is currently engaged in providing mobile based digital K-12 and test prep education services throughout India and some parts of the Middle East. Till date, the Company has developed immersive, engaging educational content for math and science subjects across grades 6 to 12 as well as educational content for prep content for several entrance examinations across India. Indian students and parents yearn for quality educational products, and the Indian market is estimated to be the largest globally for K-12 education with more than 250 million new enrollments per year. However, good quality teachers are in short supply with access usually limited to metros and other tier 1 cities. Typically students in India are accustomed to attending several daily / weekly private tutoring classes in the after school hours, as parents strive to provide the best quality education for their children.The Company is addressing these issues by democratizing access to high quality, affordable and personalized, education focused on stimulating conceptual clarity and suited to the aptitude of a student, rather than rote learning; yet being accessible from anywhere, anytime via mobile devices.The Company’s K-12 education product; “The Learning App” has seen downloads in excess of 4.5 million in less than 10 months since launch, and more than 43% of its paid users are located outside India’s top-10 cities.The Company is focused on leveraging technology as it scales rapidly. It currently employs approximately 800 people and all the content and technology are developed in-house. It is one of thousands of examples that the Country’s “Start-Up India” initiative is trying to promote. The proposed IFC investment (“Project”) consists of up to US$15 million in equity for a minority stake in BYJU’s in order to finance the expansion of the Company’s education services offering, further technology development and potential inorganic growth opportunities.