Bangalore, October 23, 2024: Edtech firm Great Learning, recently acquired by BYJU’S, reported a successful fiscal year (FY24) with a revenue of approximately Rs 980 crore ($118 million). This marks a 23% year-on-year growth for the company.
Great Learning highlighted positive results in both EBITDA (earnings before interest, taxes, depreciation, and amortization) and net profit. The company attributed its success to a focus on artificial intelligence (AI) upskilling courses and strong performance in international markets like North America and Europe.
“We are happy to have delivered strong performance under tough macroeconomic conditions,” said Mohan Lakhamraju, Founder and CEO of Great Learning. This positive outcome comes amidst BYJU’S, Great Learning’s parent company, facing financial difficulties. BYJU’S, once valued at $22 billion, is currently undergoing an insolvency process.
Despite the challenges faced by BYJU’S, Great Learning seems to be operating independently. According to the company, financial lenders have partnered with Great Learning’s founders and team to support its growth as a separate entity.
Founded in 2013, Great Learning offers professional certificate courses in digital fields like data science and AI, partnering with top universities. It boasts over 1,200 programs, serving more than 11 million learners worldwide.
“We have been on a mission for over a decade to help professionals acquire the skills needed in the digital world,” said Lakhamraju. The company has expanded its collaborations with industry leaders like Microsoft and Amazon, as well as prestigious universities like Johns Hopkins and IIT Bombay.
This news reinforces the growth trend in edtech companies specializing in upskilling and reskilling courses. As technology like AI continues to reshape the job market, the need for professionals to acquire new skillsets is driving demand for these services.