Lionel Messi has been named the worldwide brand ambassador of Education for All, the social impact arm of Byju’s, India’s most valued edtech business.

Prior to the FIFA World Cup 2022, which Byju’s is an official sponsor of, Messi signed a contract. The prominent football player also oversees the Leo Messi Foundation, a non-profit organization that makes investments in fields including healthcare, education, and sports. Regarding the endorsement payment made to Messi, Byju’s refuses to comment.

The co-founder of Byju, Divya Gokulnath, acknowledged Lionel Messi as the organization’s first global partner in a LinkedIn post.

According to Gokulnath, “Byju’s Education for All is an effort to provide millions of underprivileged children in India with an equal, free, and accessible education. through the program Education for all, Byju’s is providing education to the poor the moto of it is the betterment of the poor people and there are approximately 5.5 million people who are taking benefits of this campaigning. By 2025, at least 10 million children will get free education, according to current plans. Maybe we’ll get there much faster.”

“The fact is that today’s great football player Messi, was once a great student and it’s not unusual. This collaboration shall undoubtedly encourage people to set their future goals and give them moral support to give prior importance to their education too. With Messi on your side, everything is possible, as football fans are aware,” Gokulnath stated.

Byjus To Lay Off 2500 Employees:

Byju’s is now making significant cost-cutting efforts. The actions include dismissing 2500 workers, closing its physical locations in several cities, and switching its sales equipment from outside sales to inside sales.

Though Byju’s, seems to be keeping up its investment in advertising. To become the first Indian corporation to sponsor a FIFA world cup, for instance, the company invested close to $30–$40 million.

In June, the business also extended its sponsorship agreement with the Board of Control for Cricket in India for another 18 months, till 2023. Additionally, it is a sponsor of the current ICC Men’s T20 World Cup in 2022.

In FY21, the Tiger Global-backed firm reported a loss of 4,588 crores, up from FY20’s loss of 231.69 crores. In comparison to FY20, when it had total costs of 2,873.34 crores, FY21 saw them soar to 7,027.47 crores. The business has not yet made public its financial results for the fiscal year 2022.

Byju’s is now in discussions with bankers to initiate a public listing of its offline tutoring division, Aakash Educational Services, in 2023. Aakash’s initial public offering (IPO) is intended to raise $800 million to $1 billion at a valuation of more than $3.5 billion. In April of last year, Byju’s bought Aakash for almost $1 billion in cash and shares.

The Business:

Byju’s is a multinational Indian educational technology company that provides educational services, The company is located in Bangalore. It was started in 2011 by Divya Gokulnath and Byju Raveendran.

Featured Image Credit: Google Images

Aditt Rupanii