Draft:Great Learning (company)
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| Submission declined on 11 November 2024 by MolecularPilot (talk). This draft's references do not show that the subject qualifies for a Wikipedia article. In summary, the draft needs multiple published sources that are: Declined by MolecularPilot 55 days ago.
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Comment: See WP:COI. Note also the cite errors and numerous links to disambig pages. Greenman (talk) 06:31, 3 January 2025 (UTC)
- Comment: Currently all references fall under WP:CORPTRIV and cannot count towards notability. MolecularPilot 🧪️✈️ 10:20, 11 November 2024 (UTC)
Great Learning (EdTech Company) is a global edtech company based in India, and Singapore[1] that specializes in professional and higher education. Founded in 2013 by Mohan Lakhamraju, the company offers programs in technology, data, and business domains through online, blended, and classroom modes. These programs are developed in collaboration with top academic institutions worldwide.
History
[edit]In 2013, Mohan Lakhamraju, former Managing Director of Tiger Global in India, established Great Learning with the vision of providing high-quality education to professionals. The company has since delivered over 110 million hours of learning to learners worldwide.
In 2021, Great Learning was acquired by BYJU'S in a deal valued at $600 million[2], comprising cash and equity. This acquisition was part of BYJU'S strategy to expand its offerings in the professional education sector.[3][4]
Programs and Services
[edit]Great Learning offers a diverse range of programs, including postgraduate certificates, degrees, and free courses. The programs cover areas such as Data Science, Artificial Intelligence, Machine Learning, Cloud Computing, Cybersecurity, Digital Marketing, and Management. The company collaborates with renowned institutions like the University of Texas at Austin, Northwestern University, John Hopkins, IIT Bombay, Deakin University, University of Arizona, Clark University and the Massachusetts Institute of Technology to deliver these programs.
The Great Learning Academy[5] provides over 1,000 free courses with certificates in various high-demand fields, aiming to empower learners with essential skills.
Finances
[edit]In the fiscal year 2023-2024, Great Learning reported a 23% year-on-year growth in revenue, reaching $118 million (approximately ₹992 crore)[6][7]. This growth was attributed to increased demand for upskilling in artificial intelligence and business expansion in the US and Europe. The company also achieved positive EBITDA and net profit for the fiscal year.
In the fiscal year 2019-2020 (FY20), Great Learning reported a revenue of ₹325 crore[8], marking a substantial growth of nearly 150% from the previous fiscal year.
In FY23, the company achieved a revenue of ₹801 crore, reflecting a 34% increase from the previous year.[9] During the same period, losses narrowed to ₹210 crore from ₹266 crore in FY22.[10]
Acquisitions
[edit]In May 2022, Great Learning acquired Northwest Executive Education, a company specializing in executive education programs, in a deal valued at $100 million[11][12]. This acquisition aimed to enhance Great Learning's offerings in the executive education space.[13][14]
In February 2022, Great Learning acquired Superset[15][16], a recruitment automation platform for educational institutions and enterprises. This acquisition was intended to strengthen Great Learning's placement capabilities for its learners.
Recent Developments
[edit]In September 2023, reports emerged that BYJU'S, the parent company of Great Learning, planned to sell two of its key assets—Great Learning and Epic[17] to generate between $800 million and $1 billion in cash. This move was aimed at meeting BYJU'S commitment to repay a $1.2 billion[18] term loan B.[19]
In October 2023, reports indicated that the founders of Great Learning were in discussions to repurchase the company from BYJU'S[20][21]. The talks were at an early stage, with the founders engaging with investors to secure funds for a potential deal.
Subsequently, in October 2023, BYJU'S lenders appointed the risk and financial advisory firm Kroll to protect the assets of Great Learning and BYJU'S[22]. This action was part of the secured lenders' exercise of their security rights following defaults by BYJU'S. The appointment aimed to safeguard the charged assets, which are used as collateral to secure loans, allowing lenders to seize them if the borrower defaults.[23]
Great Learning has maintained operational stability and growth under its original leadership, even as its parent company, BYJU'S, faces financial difficulties. Unlike other BYJU'S acquisitions, Great Learning operates independently, with minimal interference from its parent company, and has demonstrated a strong focus on innovation. In 2024, the company launched a Generative AI academy to address the growing demand for expertise in artificial intelligence.[24]
The company's financial performance and strategic importance within BYJU'S portfolio have also drawn attention. Reports from October 2023 indicate that lenders have taken steps to secure Great Learning's assets following defaults by BYJU'S. This reflects the critical role the company plays in BYJU'S business strategy.[25]
Furthermore, discussions about a potential repurchase of Great Learning by its founders have emerged. This development is part of a broader strategy to restore financial stability and refocus the company's long-term growth goals.[26] As part of its strategic roadmap, Great Learning has also been considering an Initial Public Offering (IPO). Reports suggest that an IPO could help the company strengthen its financial standing and expand its market presence, particularly in the professional upskilling domain.
References
[edit]- ^ Venugopalan, Anjali (7 August 2019). "Ed-tech company, Great Learning, to set up office in Singapore". The Economic Times.
- ^ "Byju's on an acquisition spree, buys Great Learning for $600 mn".
- ^ "Byju's Buys Great Learning for $600 Million to Expand Offerings". Bloomberg. 26 July 2021.
- ^ Nandy, Madhurima (26 July 2021). "Byju's buys Great Learning; to invest $1 bn in upskilling, higher education". mint.
- ^ "Great Learning launches online library on artificial intelligence, digital marketing". April 2020.
- ^ "Great Learning registers 23% revenue growth at $118 million in FY24".
- ^ "Great Learning Posts 23% Revenue Growth at $118 Million for FY24". 21 October 2024.
- ^ "Great Learning records revenue of Rs 325 crore in FY20". 10 June 2020.
- ^ "Byju's-owned Great Learning's revenue crosses Rs 800 cr in FY23, losses reduce 21%".
- ^ "Byju's Great Learning's revenue rises 34% to Rs 801 crore, losses shrink". 15 November 2023.
- ^ "BYju's owned Great Learning acquires Northwest Executive Education". 11 May 2022.
- ^ "Byju's-owned Great Learning acquires Northwest Executive Learning in $100 million deal". The Economic Times. 10 May 2022.
- ^ "BYJU's owned Great Learning acquires Singapore-based Northwest Executive Education". 11 May 2022.
- ^ "EXCLUSIVE: Byju's-owned Great Learning to make two acquisitions this fiscal year; scouting for more". 14 December 2021.
- ^ "Great Learning acquires recruitment platform Superset - CNBC TV18". 22 February 2022.
- ^ "BYJU's group company Great Learning acquires recruitment automation platform Superset". The Times of India. 22 February 2022.
- ^ "Byju's plans to sell Epic, Great Learning to repay $1.2 billion loan". The Times of India. 11 September 2023.
- ^ Mishra, Digbijay (12 September 2023). "Byju's puts Epic, Great Learning on sale to clear $1.2 billion loan". The Economic Times.
- ^ "India's Byju's looks to raise $1 BLN with sale of Great Learning, Epic". Reuters.
- ^ Raghavan, Sneha Shah (5 October 2023). "Founders look to buy Great Learning back". mint.
- ^ "Great Learning founders look to buy firm back from Byju's".
- ^ "Byju's creditors onboard Kroll to 'safeguard' Great Learning assets".
- ^ Shah, Sneha (11 October 2023). "Byju's lenders appoint Kroll to help safeguard assets of Great Learning | Company Business News". mint.
- ^ "Great Learning is one that got away". 19 August 2024.
- ^ Shah, Mansi Verma (25 October 2024). "Fresh out of Byju's clutches, Great Learning turns over a new leaf". mint.
- ^ https://www.pressreader.com/india/mint-kolkata/20241026/282114937063545 – via PressReader.
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External links
[edit]Category:Indian educational websites Category:Educational technology companies Category:Education companies of India Category:Indian companies established in 2013