Lionel Messi named global brand ambassador of BYJU’S
With its headquarters in Bangalore, Byju’s is a multinational Indian educational technology firm. ByjuRaveendran and DivyaGokulnath launched it in 2011. Byju’s is estimated to be worth US$22 billion as of March 2022, and the firm states that over 115 million students are now enrolled. Think and Learn Pvt. Ltd., founded in 2011 by ByjuRaveendran, DivyaGokulnath, and other students, created Byju’s app. Since 2006, Byju, an engineer by trade, has taught students math. Early on, the company concentrated on providing online video-based learning courses for competitive exams and the K–12 market. A striker for Ligue 1 team Paris Saint-Germain and captain of the Argentina national team, Lionel Andrés Messi was born in Argentina on June 24, 1987. Messi, recognized as one of the best players of all time, has won seven Ballon d’Or awards,a record six European Golden Shoes, and was selected for the Ballon d’Or Dream Team in 2020. He spent his entire professional career with Barcelona, retiring from the team in 2021 after winning a club-record 35 trophies there, including 10 La Liga championships, seven Copa del Rey championships, and four UEFA Champions Leagues.
Lionel Messi has been chosen as the global brand ambassador of Education For All, the social impact arm of Byju’s, India’s most valuable edtech firm. Before the FIFA World Cup, which will feature Byju’s as an official sponsor and begin later this month in Qatar, the company has partnered with Messi. Leo Messi Foundation, which focuses on topics like healthcare, education, and sports, is a non-profit organization run by Messi, who also serves as captain of the Argentine football team and plays for Paris Saint-Germain, a group based in Paris. “Today, more than 5.5 million young hearts have ten more reasons to grin brightly. The co-founder of Byju, DivyaGokulnath, acknowledged that Lionel Messi is the organization’s first global partner in a post on LinkedIn on Friday.
A firm representative declined to comment on the Messi endorsement payment. According to Gokulnath, Byju’s “Education for All” initiative aims to provide millions of underprivileged children in India with an equal, free, and accessible education. “It is not surprising that the greatest player of all time is also the greatest learner. I am sure this partnership will inspire millions of people worldwide to dream bigger and learn better. As football fans know, with Messi on your side anything is possible,” Gokulnath said. Messi’s signing occurs as Byju’s, a losing company, implements many cost-cutting measures. Two thousand five hundred people have been let go, physical locations have been shut down in numerous cities, and inside sales have replaced field sales in the company’s sales strategy.
However, Byju’s continues to invest in advertising. For instance, to become the first Indian corporation to sponsor a Fifa World Cup, the company spent close to $30–$40 million. The business renewed its agreement with the Indian cricket board in June, continuing to sponsor the Indian cricket team’s shirt for the ensuing 18 months till 2023. Additionally, it sponsors the ongoing ICC Men’s T20 World Cup in 2022. The company, which Tiger Global funds, reported a loss of 4,588 crores in FY21, a significant increase from 231.69 crores in FY20. Total expenditures increased dramatically from 2,873.34 crores in FY20 to 7,027.47 crores in FY21. The company has not yet released its FY22 financial results. Byju’s is additionally in discussions with banks to publicly list its offline coaching unit Aakash, at the beginning of 2023.