BYJU’S, India’s most valuable startup, is said to have decided not to renew some branding partnerships with the Board of Control for Cricket in India (BCCI), the International Cricket Council (ICC), and the Federation Internationale de Football Association (FIFA) (FIFA).
In an interview with Moneycontrol, BYJU’s CEO Byju Raveendran stated that while the renewal of these partnerships is imminent, the edtech giant will opt out because it has already achieved the level of brand awareness required. BYJU’S will save a significant amount of money as a result of the change. According to media reports, the company spent $30-40 million on FIFA sponsorship during the FIFA World Cup 2022, and another $55 million on BCCI sponsorship.