Bengaluru-based edtech unicorn Vedantu is eyeing to expand to the global market as it prepares for an initial public offering (IPO) in 2023-24.
According to an article published on VCCircle, Co-founder and CEO Vamsi Krishna said Vedantu has plans to expand to at least one new geography in the near future. Going forward, it will possible expand to geographies in the Commonwealth regions, near Western Europe, and in South Asia.
Earlier, in September last year, Vedantu became the fifth edtech startup to enter the unicorn club (companies valued at more than $1 billion), after Singapore-based ABC World Asia invested $100 million in its Series E investment round. This also made the startup the second-largest tutoring platform in the country.
In an earlier conversation with YourStory, Vamsi had mentioned that the company was eyeing an IPO in the next two to two-and-a-half years. However, Vedantu's mission continues to be building a long-term sustainable company, with a focus on innovation and impact.
Although no financial details were shared during the interaction, Vamsi did mention that if global operations are able to contribute at least 10 percent to the startup's revenue, Vedantu will heavily invest for further expansion in international waters. Additionally, the Bengaluru-based edtech platform is also eyeing at international acquisitions.
During the interview, Vamsi mentioned that the online learning platform is evaluating the available options and that it is a, "...Build versus buy" for the team. Vedantu is open to making strategic acquisitions in the categories where it does not have a presence yet.
Vedantu was founded in 2011 by Vamsi, Pulkit Jain, Anand Prakash, and Saurabh Saxena to democratise quality education. The startup offers real-time, interactive online classes; masterclasses across subjects, micro-courses, and daily assessments. It caters to individual students and group classes across the k-12 and test preparation segment.
Edited by Megha Reddy