Edtech decacorn Byju's has roped in football star Lionel Messi as its Global Brand Ambassador for its "Education for All" social initiative.
“This association with one of the world’s most popular sportspersons is in sync with the expanding global footprint of Byju’s and its commitment to making education accessible, equitable, and affordable for all”, the company’s prepared statement said on Friday.
Messi also runs his own charitable organization, the Leo Messi Foundation, founded in 2007 with the idea that children should all have the same opportunities to realise their dreams.
Moneycontrol has learned that this partnership comes with commitments between Messi and Byju’s wherein the edtech major may offer free licenses and learning materials for his foundation.
However, the monetary endorsements of this partnership could not be ascertained immediately. According to Forbes, Lionel Messi is one of the highest-paid footballers in 2021, with pre-tax gross earnings of $130 million.
“It is not really surprising that the greatest player of all time is also the greatest learner of all time. I am sure this partnership will inspire millions of people around the world to dream bigger and learn better. As football fans know, with Messi on your side anything is possible,” said Divya Gokulnath, co-founder of Byju’s.
Interestingly, cofounder Byju Raveendran is known for his love of football, having played for hours with his colleagues at midnight.
This comes days after Raveendran wrote a heartfelt apology to its employees for undertaking layoffs. The company took strict cost rationalization measures like layoffs after it posted the biggest-ever loss for an Indian startup in FY21. For FY21, the loss grew to Rs 4,589 crore.
However, Byju’s remains aggressive in its advertising and promotional activities. In fact, the company spent more than Rs 2,500 crore on advertising and marketing in FY21, according to its regulatory filings. This was before the company signed up to be the official sponsor of the FIFA World Cup. Byju’s is spending about $40 million on the sponsorship, according to media reports.
It became the lead sponsor of the Indian cricket team in 2019 and recently renewed its deal with the Board of Control for Cricket in India for $55 million, according to media reports.
Byju’s is also one of the lead sponsors of the ongoing International Cricket Council Men’s T20 World Cup in Australia.
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