Page 16 - Edtech

Physics Wallah to cross Rs 2,400 cr in revenue in FY24, says co-founder

Where Byju's acquisitions were indiscriminate, PW's are measured, says co-founder

Anurag Tiwari appointed as National Academic Director for Unacademy Centres

Learning plarform Unacademy on Friday announced the appointment of Anurag Tiwari as the National Academic Director for Unacademy Centres. Prior to joining Unacademy, Tiwari served as the National Academic Director at Aakash Educational Services Ltd for 13 years. "An accomplished educator with over 18 years of experience in the education sector, Anurag brings a wealth of expertise and a proven track record to his new role," Unacademy said in a release. Founded by Gaurav Munjal, Hemesh Singh, and Roman Saini in 2015, Unacademy is a learning platform with a growing network of 91,000-plus registered educators and over 99 million learners. Unacademy Group comprises Unacademy, Graphy, UnacademyX, NextLevel, and Prepladder. "We are certain that his presence will further amplify our dedication to providing high-quality education to all learners and ensure we make a lasting impact on the educational landscape," Unacademy co-founder and CEO Gaurav Munjal said.

Hiring for fresh talent rises 3% in HY23, shows job market optimism: Study

Hiring intent for all categories of jobseekers increased to 73%: TeamLease

Byju's lenders accused of using bogus loan-default claims to gain control

The distressed-debt lenders are "playing hardball" to create leverage in negotiations to restructure the loan and causing problems for Byju's executives

Byju's misses August 3 deadline to rework $1.2 billion loan terms

Byju's said no deadline had been missed as "August 3 was merely a hopeful date that was likely to be scheduled for a sign off"

Byju's Aakash unit forced to rework board after breaching loan agreement

Davidson Kempner, which manages more than $38 billion, forced the changes in Aaksah's board as the borrower was in breach of some covenants on a $250 million loan

Troubled Byju's misses target to amend its $1.2 billion loan terms

The company failed to decide on revisions sought by lenders in the loan's terms, including part repayment and higher interest payment

As startups lay off staff to cut costs, employees head out for job hunt

Employees not just from edtech but also from commerce and digital media startups are looking out for new jobs amidst massive layoffs

Education ministry selects Oracle Cloud Infrastructure to modernise DIKSHA

The Ministry of Education has selected Oracle Cloud Infrastructure to modernise national education technology platform Digital Infrastructure for Knowledge Sharing (DIKSHA), the company said on Wednesday. The migration will help make DIKSHA more accessible and lower its IT costs. The platform supports 1.48 million schools across 35 states and Union Territories and is available in 36 Indian languages. "We have transformed and migrated DIKSHA onto Oracle Cloud Infrastructure (OCI)," said Shailender Kumar, senior vice-president and regional managing director, Oracle India and NetSuite Asia Pacific and Japan, at a briefing. Under the seven-year collaboration pact, OCI will help the ministry use DIKSHA to provide educational resources to millions of additional students, teachers and collaborators across the country. DIKSHA was built for school education and foundational learning programmes and represents one of India's largest and most successful Digital Public Infrastructure (DPI) ...

Top headlines: Fitch cuts US credit rating, corporation tax mop-up slips

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upGrad announces advisory board to scale upGrad Institute in Singapore

Edtech firm upGrad on Monday announced the appointment of seven industry leaders to the advisory board of upGrad Institute, a government-approved private education institution in Singapore. The advisory board will offer insights to help accelerate upGrad's focus on building a robust learning institute that will empower the global workforce with an industry-ready experiential curriculum, the company said in a statement. "Joining the advisory board as Chairman, Prof. Arnoud De Meyer, ex-president of Singapore Management University... Along with him, Prof S Sadagopan, chairman, BoG, IIITDM-Kancheepuram, and founder director, IIIT-Bangalore, brings extensive experience in academia and education," the company said. With a sharp focus on skilling and job outcomes, upGrad Institute has also on-boarded accomplished industry leaders from diverse backgrounds, it said. They include Magdalene Ew, head of content, entertainment, Southeast Asia, Taiwan and Hong Kong, Warner Bros. Discovery; Jere

Top headlines: Foxconn in talks for $200 mn plant in TN, Fed hikes rates

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For edtech firm Byju's chaotic situation, are only founders to be blamed?

Byju's delayed giving its FY21 financial report by 18 months and when it did, it reported a loss of Rs 4,570 crore. The FY22 financials are yet to be filed

Will 'significantly' mark down Byju's valuation: Peak XV Partners

This is the first time investors have externally flagged financial and corporate irregularities at the edtech firm

Star founder Raveendran broke down in tears as crises engulfed Byju's

Without easy access to global capital, companies are now facing greater scrutiny over corporate governance, jeopardizing India's quest to pull even with the US and China as a tech capital of the world

Byju's 'regularly disregarded' former director's advice, says Prosus

Prosus, which this year slashed its valuation of Byju's to $5.1 billion from $22 billion last year, said the decision for its director to step down from Byju's board last month

Edtech major Byju's, lenders agree to amend terms for $1.2 billion loan

Houlihan Lokey serves as financial advisor to the term loan lender group and Kirkland & Ellis LLP, Cahill Gordon & Reindel LLP, and Shearman & Sterling LLP are serving as legal advisors

Byju's vacates its biggest office at Kalyani Tech Park, Bengaluru: Report

By giving up the 558,000 sq ft office space, Byju's might save up to Rs 3 crore per month in rent

GST officials visit Ronnie Screwvala-led upGrad's offices in Mumbai

The edtech stated that it was a routine survey, and that it was fully compliant

Tax officials visit offices of edtech startup upGrad for routine survey

Indian tax officials have visited offices of ed-tech startup upGrad for a routine survey, the company said on Wednesday