Online educational technology giant Byju's is acquiring Akash Educational Services which operates over 200 tutorials across the country for $1 billion. This would mean the valuation of Akash, which was acquired by Blackstone in late 2019 at $500 million, would become double in a little more than a year.
Akash Educational Services was founded in 1988 and operates over 200 tutorials nationwide. On its rolls are over 2,50,000 students preparing for admissions to top engineering and medical colleges.
Valued at $11 billion, Byju's is consistent the most valuable educational technology start-up. During last two years alone, it has raised $800 million. Last year, Byju's had acquired coding platform WhiteHat Jr in a $300 million deal.