Vedantu is planning a global expansion with an eye on IPO
- ByStartupStory | February 21, 2022
Vedantu Innovations Pvt. Ltd, India’s second-largest online teaching platform, which became a unicorn last year, is preparing to penetrate global markets with an initial public offering (IPO) in 2023-24.
Unicorns are privately held companies with a market capitalization of $1 billion or more. Vedantu, which has been around for more than a decade, will begin operations in West Asia in June. In the near future, the Bengaluru-based edtech platform wants to expand to at least one additional location. According to Krishna, the company might expand to three to four additional abroad locations, probably in the South Asia and Commonwealth areas (near Western Europe). Vedantu plans to go public in the next 18-24 months.
Vedantu, which was created in 2011 by Krishna, Anand Prakash, Saurabh Saxena, and Pulkit Jain, has so far bought two firms for unknown sums: Ahmedabad-based Pedagogy (run by WeColab Edusystem Pvt Ltd) and Noida-based Instasolv (managed by Adinio Services Pvt Ltd). Both purchases were made in 2021, at a period when the country’s edtech giants were on a purchasing binge.
Vedantu’s inorganic intentions come on the heels of a significant financial injection. Vedantu became a unicorn in September after collecting $100 million in a Series E investment led by Singapore-based impact investor ABC World Asia and others. Tiger Global, Coatue Management, GGV Capital, WestBridge Capital, Legend Capital, and Omidyar Network are among its other investors.
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