Edtech company Byju’s is in talks to acquire the campus recruiting platform Superset, according to two sources informed of the transaction. Byju’s has already acquired nine startups this year and is also in the process of taking over Hello English, which is supported by Tiger worldwide.
Based in Bengaluru, Superset is a platform that streamlines the campus internship and hiring process for colleges, students and businesses. The startup offers end-to-end solutions in the fields of edtech automation and HR tech using machine learning, Elasticsearch and other cloud-based technologies.
“Byju’s is in late-stage conversation about the Superset acquisition and both companies have finalized the terms,” said one of the sources who requested anonymity. “In addition to the team, both founders of Superset will come to Byju’s.”
According to sources, the transaction size is between $ 20-25 million.
Backed by Blume Ventures, Superset has raised approximately $ 1.48 million since its inception in early 2018. The company offers SaaS products to over 375 colleges including BITS Pilani, SRM University, IIM Calcutta, IIM Ahmedabad, and IIT Ropar, as known on the company’s website.
The startup generates income from the annual subscription fee charged by the universities, which varies and depends on the number of students registered on the platform.
“If the takeover goes through, Byju’s will mark the entry into the recruiting area where its rival Unacademy is present via Relevel,” said another source, who also refused to be named as conversations are private.
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Inquiries sent to Byju’s and Superset on Wednesday did not result in an immediate response. We will update the post as soon as they reply.
While Superset is not yet required to file its FY21 financial statements, it had operating sales of Rs.1.15 billion in FY20 compared to 46 lakh in the previous fiscal year. During FY20, the company recorded Rs.1.55 billion in total expenses and 40 lakhs in loss.
Earlier this week Trickypedia would have exclusively reported about the possible takeover of Hello English by Byju’s. With Superset, Byju’s could close the current calendar year with around a dozen acquisitions.
The highest-rated edtech startup had already spent around $ 2.5 billion on acquisitions and taken on a larger round of debt to acquire more startups in the coming months. Aakash Educational Services was Byju’s largest deal, spending around $ 1 billion. The company also spent approximately $ 600 million on Great Learning and $ 500 million on the US Epic.
Byju’s is also aiming for a possible listing on the stock exchange next year. According to media reports, the company can file IPOs in the US valued at $ 40 billion to $ 50 billion by next year.