EdTech

Companies are looking for managers, communication specialists, creative thinkers, and data specialists

Reports surfaced recently that the company was planning to raise $250 million in fresh funding, seeking a $3.3 billion valuation. However, Maheshwari denies that

They will continue to tread on thin ice amid a long funding winter unless they fundamentally revise their business models

The latest funding round comes as Byju's is aiming to repay a huge $1.2-billion term loan it had secured in November 2021

Last week, the Police arrested a Faridabad resident Vinay Bhardwaj, who was allegedly involved in stealing, holding and selling personal and confidential data

The edtech giant hired has hired Goel to the company's financial operations, long-term business strategies, and path to profitability

While BlackRock has slashed Byju's valuation by nearly 50 per cent, Invesco has cut Swiggy's stake value by over 23 per cent

Byju's acquired AESL in 2021 for about $1 billion. Since then, Byju's said AESL's revenue and profits tripled

The Softbank-backed start-up last laid off 350 employees in November

Major investors in the rights include co-founder Ronnie Screwvala (Rs 212 cr) and Singapore-based Temasek (Rs 81 cr)

Firm will now function as an independent unit run by its current team; Unacademy will, however, hold 30% in it as an investor, has also infused some capital to help it run for next 12-18 months

In which we munch over the week's platter of news and views

Edtech major Byju's is likely to close a USD 250 million equity funding deal in April at a USD 22 billion valuation, sources aware of the development said. The company had last raised USD 250 million in October at the same valuation. "Byju's is in the process of raising USD 250 million. The term sheets are expected to close in about 2-3 weeks," a source told PTI. Another source said the fundraising is an equity deal and happening at a flat valuation of USD 22 billion. When contacted Byju's declined to comment. The company had last raised USD 250 million from existing investors and Qatar Investment Authority. The company attained a valuation of USD 22 billion in the funding round of USD 800 million, announced in March 2022. Byju's has set a target to become profitable by the end of this month. The company retrenched 2,500 employees under the plan and hired 10,000 teachers for India and overseas. Byju's booked a loss of Rs 4,588 crore for the fiscal ended March 2021 -- 19 times

Edtech major BYJU's on Friday denied reports that it is considering a merger of rival Gaurav Munjal-run Unacademy into Aakash Educational Services

At a group level, BYJU's had said its top priority is to achieve "overall profitability by March 2023"

upGrad works with over 400 global companies to upskill their talent

Regulator will accept inputs till April 15, new directives go beyond factual claims to try and curb negative habits and stereotypes linked to learning

Aakash is eyeing an initial public offering (IPO) and it is looking to raise the capital to create an interim event and set the stage, according to the sources

India is now the US edtech firm's fifth largest market by daily active users (DAUs) and the second fastest-growing among its top 10 markets in 2022

This is the second upGrad arm to have recently laid off staff. Last December, Harappa Education, which upGrad had bought for Rs 300 cr in July 2022, let go of 70 people