Page 13 - Edtech

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

Prosus NV slashes edtech major Byju's valuation to under $3 billion

In November last year, Prosus first slashed the fair value of Byju's to $5.97 billion

BCCI takes edtech major Byju's to NCLT over jersey sponsorship dispute

"We are in discussions with BCCI to settle the matter and we hope to achieve that soon," according to a Byju's spokesperson

India's data science education market to reach $1.39 bn by 2028: Report

Data scientists, data analysts, business analysts, and big data engineers are the most in-demand jobs according to Imarticus Learning's Data Science Education Report 2023

Edtech major Byju's elevates Jiny Thattil to CTO as Anil Goel moves on

This transition is part of Byju's ongoing strategic restructuring and reorientation of its leadership team to further enhance operational efficiency

Byju's names Jiny Thattil as Chief Technology Officer, replacing Anil Goel

Jiny Thattil has previously worked at companies such as cred-owned Happay, Amazon, InMobi and GE Healthcare

Edtech firm BYJU'S appoints Jiny Thattil as Chief Technology Officer

Edtech firm BYJU'S on Monday said it has appointed senior vice president for engineering Jiny Thattil as its Chief Technology Officer. Thattil takes over from Anil Goel, who is leaving the company after three years as Chief Technology Officer (CTO). "We are delighted to promote Jiny Thattil as the CTO of BYJU'S. His extensive experience and leadership skills make him the ideal candidate for this crucial role as we continue to rebuild for greater efficiency and sustainability. We would also like to extend our heartfelt gratitude to Anil Goel for his exemplary work," BYJU'S India CEO Arjun Mohan said. This transition is part of BYJU'S ongoing strategic restructuring and reorientation of its leadership team to enhance operational efficiency, the statement said. With over 25 years of experience, Thattil has an understanding of diverse domains, including e-commerce, advertising, analytics, payments, online banking, personal finance, business intelligence, healthcare, and ...

Edtech major Byju's faces ED heat for Rs 9.4k crore 'forex violation'

Legal proceedings against the edtech firm have begun

Always been fully compliant with FEMA regulations: Byju's assures investors

The edtech giant has reached out to all its investors regarding an alleged show-cause notice issued by ED and assured them that the firm has not violated any foreign exchange rules

Byju's ex-employees charge it of missing full and final settlement deadline

Edtech major BYJU'S former employees have alleged that the company has failed to meet the deadline for full and final settlement of laid-off workers. BYJU'S workforce has come down to 31,000-33,000 at group level from 50,000 in October 2022. "I am writing to bring to your attention that I have not received my Full and Final (FNF) payment within the specified timeframe of 45 days and it's about 90 days and I did not get proper resolve from separation team fnf team and all," a former BYJU'S employee wrote on a social media platform. When contacted, the employee claimed that full and final settlement of many employees whom he knows has not been settled yet. An employee sent out an email to several media persons claiming that he was promised by the HR manager at BYJU'S that he would be paid the September month salary along with one month's severance pay by October and later he got an email which deferred the date to November 17. The employee said that the payment is still getting ...

Interest in data science education on the rise: Imarticus Learning

India's data science education market is estimated to grow from $204.23 million in 2023 to $1.391 billion by 2028

Physics Wallah may lay off up to 120 employees due to performance issues

Edtech firm Physics Wallah may lay off up to 120 employees due to performance issues, according to the company. The company in a statement said that less than 0.8 per cent of its total workforce will be impacted due to the performance review exercise. "At PW, we regularly assess performance through mid-term and end-term cycles. For the cycle ending in October, less than 0.8 per cent of our workforce, ranging from 70 to 120 individuals with performance concernsmay be asked to transition. "Our primary focus remains on fostering a dynamic, high-performing team. We plan to hire an additional 1,000 employees in the next six months," PW, CHRO, Satish Khengre said in a statement. The company has around 12,000 employees. Several edtech companies, including unicorns like BYJU'S and Unacademy had hired excess staff to meet the sudden spike in demand for online classes during the COVID period. This is the first mass lay-off that has been announced by Physics Wallah (PW). "We deeply value t