Byju's has purchased GeoGebra, an Austrian firm, the latest in a string of acquisitions by the Indian ed-tech behemoth this year as it expands its online learning platform globally. The purchase price was not disclosed, but a source familiar with the issue claimed it was around $100 million and included both cash and shares. Byju's did not respond to a request for comment.
GeoGebra, which is eight years old, is a collaborative and creative mathematics learning platform that reaches over 100 million students in over 195 nations and territories. The platform is available to both businesses and philanthropic charitable groups, with the latter having free access to GeoGebra. GeoGebra's preexisting apps and web services will remain free following the acquisition, according to Byju's.
Byju Raveendran, the company's founder and CEO, previously told TechCrunch that the company is still exploring further merger and acquisition options. Meanwhile, Byju's is considering an initial public offering (IPO) as early as next year. According to TechCrunch, some financiers, notably Morgan Stanley, have offered Byju's a $50 billion valuation.
