18 months, $150Mn revenue and $300 Mn. Since last 24 hours these figures have been scuttling through media publications, news channels and news portals as they try to define the success of Karan Bajaj; after he sold his two year old startup to Byju’s for whopping $300 Mn. This is the costliest acquisition in India’s edutech space and the one that makes Bajaj the toast of India’s startup industry.
Just to give an idea about how spectacular is Bajaj’s success here are some interesting fact checks. Byju’s and WhiteHat jr is an all cash deal. Such all cash deals are pretty common in Silicon Valley but are rarity for India’s startup industry. With this deal, Bajaj may have laid the precedence for other Indian founders and co-founders to emulate in future. Another important notable fact is that out of $300 Mn, $150-200 Mn will go to Bajaj alone and this after making only partial exit from his two year old startup. Above all, this deal makes Bajaj an overnight multi-millionaire.
However, these facts, of course, don’t reveal the multi-dimensional personality of this man. Before bursting into limelight barely 24 hours ago, probably not many knew that Bajaj has donned the hat of being a successful writer and a half-monk with incessant hunger for spirituality. Before we begin exposition on Bajaj’s other life that until now only few people knew, we’d like to shed light on some interesting news scoops & highlights about Byju’s & WhiteHat Jr deal.
- After Byju’s $300 Mn buyout, Bajaj will continue to maintain 40% stake in WhiteHat Jr. He will continue to be the CEO and will lead the company post-acquisition.
- Byju’s and WhiteHat Jr deal was sealed in flat six weeks.
- The acquisition deal includes terms and conditions for performance-based incentives for WhiteHat Jr.
- Bajaj said that Indian and U.S markets almost accounts for 50% each in WhiteHat Jr’s current 150 Mn annual run rate.
Now finally coming to Bajaj’s other side of life, which is really interesting and can make anyone feel envious as well as inspired. At least, for all those who really want to make their life count for as well as those who are never tired of seeking deep meaning in their life, they surely ought to dwell little deep into life of this Mumbai based entrepreneur.
But the thing is that Bajaj’s fans and admirers, which are now obviously growing at a frantic pace, may not face much trouble in dwelling into Bajaj’s non-entrepreneurial achievements. For this unassuming entrepreneur has already mentioned in his LinkedIn profile about he being a writer and his brief sabbatical life that was solely dedicated for his spiritual quest. But as mentioned above, the world was probably waiting for Byju’s 300 Mn deal for taking these credentials bit more seriously.
Bajaj till date has authored three books and all of them have been bestsellers. Interestingly, all his three bestselling books have recurring theme of man’s indomitable quest for spiritual meaning and this fact again is suffice to reflect the spiritual depth of a man who today has become the darling of India’s startup industry. His first book ‘Keep Off The Grass,’ which debuted in 2010, became an instant success. It was a semi-finalist for the Amazon Breakthrough Novel Award and was long-listed for the India plaza Golden Quill Award.
He repeated this success with his other two novels, Johnny Gone Down and The Seeker. Collectively, these books have sold more 3 – 4, 00,000 copies and still counting. With Bajaj now becoming a household name, the sales of these books are now surely going to touch roof-top.
Bajaj’s creative quest almost ran parallel with his spiritual mission, which took him to the height of snow clustered Himalayan Mountains and lanes of scenic European countries. Scuttling through these extreme geographical and topographical conditions for almost a year (2012-13), Bajaj sought to channelize his energy into his inner being to learn the fine nuances of Yoga & mediation. For a brief period, he also adorned the role of a Yoga teacher, teaching yoga and meditation in in Sivananda Ashram in South India.
From being a celebrated author, a yogi and now an accomplished entrepreneur, Bajaj seems to be on a never-ending quest of fulfilling his potential as a human being. And efficacy of his mission has already made him an inspiration for millions out there.