Bodhi Tree Systems, an initiative started by British American businessman James Murdoch and former Indian journalist and ex-president of Walt Disney Company Asia Pacific – Uday Shankar has injected funds worth $600 million USD into test preparation company Allen Career Institute.
Allen Career Institute is a company based in Kota; Rajasthan founded 34 years ago in the year 1988.
When asked, how the firm’s investment and their new partnership will play out, the spokespeople of the two companies said that, they plan to increase their digital footprint and also expand more physically within the country. They also plan to up the number of coaching’s and courses offered.
Bodhi Tree Systems is an initiative that many experts have said will be very successful as the portfolios of its founders are quite the best for a start-up. Mr. James Murdoch is the son of business tycoon, Rupert Murdoch. Mr James Murdoch, a Harvard graduate, served as the chief executive officer of 21st Century Fox for half a decade from 2015 to 2019. Prior to that, he served as the chief executive officer and chairman of Europe and Asia of News Corporation till 2013.
Mr. Uday Shankar, just like Mr. James Murdoch has loads of experience in the realm of media. Not only was he the president of Walt Disney Company Asia Pacific, but he was also the chairman of Star India and the Walt Disney Company India. He has many accolades to his name including Best CEO according to Forbes India back in 2015.
Even though the amount of investments has been revealed by the involved parties, other details have been kept confidential including the company’s valuation at which the investment took place. However, according to some outlets, they place Allen Career Institute at a value over $1 billion USD.
Currently, the firm is physically based in close to fifty cities across the nation and in the Gulf countries and with these new investments, they look to penetrate into the market even more.
The duo of Bodhi Tree founders said that the education industry is undergoing a revolution right now with the ubiquity of digitisation in the country and this will change how education takes place and how knowledge is imbibed by the students. They spoke about how they look forward to their new partnership as they impact the lives of countless student across the nation and around the world.
Many test-prep start-ups across the nation have been undergoing massive changes had have even received big fundings from larger companies in the sector. Even firms like Byjus and Newton School undergoing a revolution as Covid and lockdowns changed the way people learn and study. This new partnership seems like it would be a big hit as it combines two experienced businessmen along with a firm that has found longstanding success in education sector in the country.
