Page 12 - Edtech

Cash-strapped Byju's to raise $200 mn after taking 99% valuation cut

Equity rights issue likely at post-money valuation of $230-250 million

Byju's to raise $200 million via rights issue from existing investors

Byju Raveendran said that Byju's is now less than a quarter away from achieving operational profitability

62% educators in India use GenAI to enhance educational delivery: Teamlease

The study carries insights from 6,313 educators, including primary school teachers, high school instructors, college professors, and educational professionals across the country

US lenders take Byju's to NCLT to initiate insolvency proceedings

The lenders said this was done after over 16 months of efforts on behalf of the Ad Hoc Group to restructure the loans

Ranjan Pai to own 40% in Byju's Aakash Institute, make it debt-free

Aakash Institute's board has approved the conversion of Ranjan Pai's $300 million investment, making him the principal shareholder and rendering the company debt-free

Focus on reducing losses, bring in efficiency: Byju's India CFO Golani

The company has taken various measures to improve the company's operating financial conditions including scaling down the underperforming businesses significantly

Edtech major Byju's to slash $22 bn valuation by 90% to raise fresh funds

The company is focusing on rebuilding its core business and will double down on recent attempts to jump on to the next big bandwagon in education

Byju's reports Rs 5,014 cr in operating revenue, Rs 8,245 in losses in FY22

Edtech giant grapples with financial challenges as auditors raise concerns over $1.2 billion term loan

Byju's vs BCCI: Edtech wants arbitrator to decide Rs 158 crore dispute

The firm claimed before the NCLT that it is in talks with the BCCI to settle the payment dispute. However, the BCCI reportedly denied and told the tribunal that no negotiations were underway

BlackRock slashes Byju's valuation by 95% from $22 bn to $1 bn: Report

Tech investor Prosus NV valued Byju's at under $3 billion in November last year after BlackRock cut its valuation to about $8.4 billion in May

Here's how the world's most valuable learning app Byju's became a trap

The group is facing an acute liquidity crunch. Amid mass layoffs and deep losses, the former billionaire founder has sold his homes to pay salaries

PhysicsWallah FY23 revenue up 3.4x, profitable for third consecutive year

PW's revenue from operations rose to Rs 771.76 crore during the fiscal year ended March 2023, compared to Rs 232.47 crore in the previous fiscal year and Rs 24.6 crore in FY21

Physics Wallah to expand to 100 offline centres in 2024, says co-founder

In May, Physics Wallah opened 50 offline centres, which it branded as 'Vidyapeeth Centers', with an investment of around Rs 82 crore in technologies

UGC warns edtech cos offering degrees in association with foreign varsities

The UGC has warned edtech companies and colleges offering degrees in collaborative arrangements with foreign universities not recognised by it, according to officials. The University Grants Commission (UGC) has also reiterated that none of these degrees will be valid and cautioned students against taking admission in such courses. "It has been observed that many Higher Education Institutions (HEIs) and colleges have entered into collaborative agreements with foreign-based educational institutions or providers not recognised by the commission and have been facilitating the issuance of foreign degrees to the students," UGC Secretary Manish Joshi said. "Any such kind of collaboration or arrangement is not recognised by the UGC and, accordingly, the degrees issued subsequent to such collaboration arrangement are also not recognised by the commission," he added. Joshi said it has also come to the UGC's notice that some edtech companies are advertising in newspapers, social media and ...

Byju Raveendran said to have infused Rs 4,000 cr of own money in firm

'Rise and fight alongside me': Founder of beleaguered edtech company tells meeting of senior executives, says source

Edtech company Byju's calls for AGM to approve audited FY22 financials

The company plans to discuss various topics including considering and adopting the audited standalone and consolidated financial statements of the firm for the financial year ended 31st March 2022

Upskilling improves professionals' appraisal more than two-fold: Report

Women who upskilled found it easier to return to work after a break, says upGrad

Exams trainer Allen acquires edtech platform Doubtnut to improve technology

"We resonate with Allen's vision of creating technology products that are focused on improving learning outcomes," said Aditya Shankar, co-founder of Doubtnut

Prosus marked down investment in Byju's, bring its valuation to below $3 bn

This is not the first time that Prosus has marked down its investments in the edtech firm

Queries received in ED's notice are solely technical in nature: Byju's

Byju's said the notice was sent on delayed annual performance reports related to overseas direct investments of Rs 8,000 crore