Vedantu Plans to Launch International Operations with Anticipation of IPO


Vedantu Plans to Launch International Operations with Anticipation of IPO

Vedantu Innovation Pvt. Ltd., India's second biggest online teaching platform, which became a Unicorn last year, is gearing up for an initial public offering (IPO) in 2023-24, according to its co-founder and CEO Vamsi Krishna.

Unicorns are privately held firms having a market valuation of one billion dollars 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 potentially grow to three to four additional international locations in South Asia and the Commonwealth (near Western Europe).

Vedantu is planning an initial public offering (IPO) in the next 18-24 months.

While Krishna did not disclose financial information about the firm's worldwide goals, he did say that if foreign operations begin to contribute roughly 10% of Vedantu's income, the company will spend "heavily" in expanding overseas markets. Meanwhile, Vedantu, like its competitors, is considering acquisitions for both global and domestic expansion. Krishna expressed his thoughts, “We’re completely open and evaluating that option (acquisition). It’s basically a buy versus a build for us. If we’re building something and we think there’s a team or a product that’s first What we have to do anyway, then it makes sense to integrate. We are open to it, we haven’t done anything so far, but we continue to evaluate within the country as well.”

Vedantu, which was created in 2011 by Krishna, Anand Prakash, Saurabh Saxena, and Pulkit Jain, has so far bought two firms for an unknown sum: Ahmedabad-based Pedagogy (run by Vcolab Edusystem Pvt Ltd) and Noida-based Instasolve (managed by Edinio Services Pvt Ltd). Both purchases were made in 2021, at a period when the country's edtech giants were on a purchasing binge.

Last year, there were five new-age edtech unicorns that bought 21 firms for a total of $3 billion.

Vedantu's inorganic intentions follow a large investment it made recently. Vedanta was inducted into the exclusive Unicorn Club in September after earning $100 million in a Series E round from impact investor ABC World Asia and others in Singapore. Tiger Global, Westbridge Capital, Cotu Management, Legend Capital, GGV Capital, and Omidyar Network are some of the other investors in the company.

Krishna said, “With our acquisition, we have endeavored to develop even greater penetration within the K-12 segment. Without going into more details, we are coming out with even more courses in the same section, which you will hear me talking about in the next few months.”

Krishna added, “Of the two acquisitions, Pedagogy and Instasolve, an automated doubt resolution platform that has a huge use case in the K-12 segment, and the other is a platform where you get access to books from all the major publications, which then Se is very strong even in the same segment.”