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• Case | HBS Case Collection | March 2017 (Revised November 2018)

  BYJU'S The Learning App

  John Jong-Hyun Kim and Rachna Tahilyani

  BYJU’S The Learning App (BYJU’s) is India’s largest K-12 education app with about 300,000 annual paid subscribers. The mobile app uses a mix of video lessons and interactive tools to personalize learning for every student. Although there is room to grow exponentially in India, BYJU’s decides to enter the United States and other English speaking international markets. It believes that the United States has a large demand for “better learning,” a strong digital payment infrastructure, and a willingness to pay subscription fees. At the same time, winning in U.S.’s education market, where most students attend public schools and many ed-tech companies are proliferating, is challenging. Is it wise to expand to the U.S., even though India presents such a vast untapped opportunity with so many students in need?

  Keywords: Education; Mobile Technology; Growth and Development Strategy; Learning; Customization and Personalization; Education Industry; India; United States;

  Citation:

  Kim, John Jong-Hyun, and Rachna Tahilyani. "BYJU'S The Learning App." Harvard Business School Case 317-048, March 2017. (Revised November 2018.)  View Details

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• Technical Note | HBS Case Collection | November 2017 (Revised November 2018)

  Blockchain, Cryptocurrencies and Digital Assets

  Ramana Nanda, Robert F. White and Alexey Tuzikov

  Keywords: Blockchain; cryptocurrency; Initial Coin Offering; ICO; Finance; Entrepreneurship; Financial Services Industry;

  Citation:

  Nanda, Ramana, Robert F. White, and Alexey Tuzikov. "Blockchain, Cryptocurrencies and Digital Assets." Harvard Business School Technical Note 818-066, November 2017. (Revised November 2018.)  View Details

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• Article | Harvard Business Review (website)

  The Hidden Costs of Initial Coin Offerings

  Jeffrey J. Bussgang and Ramana Nanda

  In recent years, much has been written about how the Blockchain is poised to transform traditional industries such as banking, real estate, and healthcare. More recently, it has gained attention as a way to finance new ventures, through what is known as an Initial Coin Offering (ICO). Less noticed, though, is ICOs appear almost antithetical to the standard approach to financing a risky venture. Structured experimentation, popularized by Eric Ries' The Lean Startup, has been widely embraced as the gold standard for how to approach the commercialization of radical new ideas. From Boston to Beijing to Bangalore, entrepreneurs and investors rattle off the importance of designing focused experiments to test hypotheses in a capital-efficient fashion in order to achieve product-market fit. But ICOs substantially limit the benefits associated with such staged experimentation, for three reasons.

  Keywords: Initial Coin Offerings; Business Ventures; Entrepreneurship; Finance;

  Citation:

  Bussgang, Jeffrey J., and Ramana Nanda. "The Hidden Costs of Initial Coin Offerings." Harvard Business Review (website) (November 7, 2018).  View Details

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