BYJU’s - an edtech learning platform is making headlines after becoming an official sponsor of the FIFA World Cup 2022 being held in Qatar.
The 2022 FIFA World Cup is scheduled to take place in Qatar from 21 November to 18th December 2022. "FIFA is dedicated to harnessing the power of football towards the goal of enacting positive societal change. We're delighted to be partnered with a company like BYJU'S, which is also engaging communities and empowering young people wherever they may be in the world," Kay Madati, FIFA's Chief Commercial Officer, said.
BYJU’s will be able to use the FIFA World Cup logo, badge, and assets to build unique promotions to distribute them to football fans around the world along with the core business of educational content.
Byju Raveendran in a statement stated, “ It is a matter of pride for us to represent India on such a prestigious global stage and champion the integration of education and sport. Sport is a big part of life and brings together people across the world. Just as football inspires billions, we at BYJU’s hope to inspire the love of learning in every child’s life through this partnership.”
Although the financial details of the partnership are not yet announced, the agreement is estimated to amount to around $30-40 Million.
It is not BYJU’s first time sporting sponsorship and has been the shirt sponsor of the Indian National Cricket team since 2019. But this agreement counts as an achievement in itself as BYJU’s become the first Indian company to collaborate with FIFA and represent India on a global level.
BYJU’S journey is an inspiration to all startups.
BYJU’s was founded by Byju Raveendran and Divya Gokulnath in 2011. The firm launched its app in August 2015 and was able to enroll 15 million users out of which 9,00,000 were paid by 2018. This was the year when BYJU’s became the first edtech unicorn, which means it was valued at $1 Billion at that time. In June 2020, BYJU’s became a decacorn with a valuation of $10.5 Billion. Fast forward to 2022, BYJU’s recently raised $800 million in fresh funding as part of a pre-IPO round. BYJU’s is currently valued at $22 Billion.
The founder of BYJU’s has stated that the key to its success is constant innovation and the introduction of various learning platforms for all age groups and geographies.
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