Page 19 - Edtech

Mature start-ups need fully functional boards: Auditing major Deloitte

Deloitte has recommended that a mature start-up should forecast CSR spends depending on profitability, and a CSR policy should be made available on the company website

Byju's early investor Pai calls for better governance after auditor exit

Deloitte disclosed on Thursday that it was resigning as auditor because Byju's had delayed providing financial statements for 2021-22

Edtech major Byju's in talks with investors who quit board to reconsider

Byju's investors had in recent months raised concerns with the company's leadership related to audit delays and how it dealt with issues relating to its lenders, one source said

Corporate affairs ministry ordered inspection of Byju's last week: Report

The ministry has taken cognisance of various corporate governance lapses at Byju's, the television channel reported

Corporate Affairs Ministry ordered inspection of Byju's recently: Report

We have not received any such correspondence from MCA regarding this, and are not aware of any such inspection, the spokesperson said in a statement

A hard lesson for Byju's Raveendran amid mass firings, delayed results

The former teacher from the southern state of Kerala got carried away. In 2015, just as a smartphone revolution was about to kick off in India, he launched a learning app

Top headlines: Byju's sacks staff, Zee Ent terms Sebi's order unjustified

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India's largest edtech firm Byju's sacks 1,000 more; count jumps to 3,500

The company, according to the sources, will give two months' salary to those laid off

Physics Wallah to acquire 50% stake in Xylem for Rs 500 cr in 3 years

Unicorn edtech firm Physics Wallah has entered into a strategic partnership with Kerala-based edtech firm Xylem Learning, under which it plans to invest Rs 500 crore over a period of next three years, the company said on Sunday. The partnership is aimed to strengthen the presence of Physics Wallah (PW) in the southern market. "This partnership with Xylem Learning fills me with immense excitement and pride. It not only aligns with our shared vision of providing quality education to all but also propels us closer to our strategic goal of becoming the leading education platform in South India," PW Founder and CEO Alakh Pandey said in a statement. The partnership involves strategic equity and cash investments in Xylem and scaling up operations. "In three years we will invest Rs 500 crore to propagate the brave and unique "XYLEM model of Hybrid Learning" to other adjoining sister states - it is a special result-oriented plan of learning which has specially impressed me. "To do this it

Edtech firm Chegg to cut 4% of staff amid AI threat to business model

Chegg has revealed its plans to cut about 4% of its workforce, weeks after its CEO admitted that ChatGPT was crushing its business as students are turning to artificial intelligence for homework

After riding the pandemic edtech boom, Byju's inverted learning curve

India's first decacorn is mired in losses, court cases, valuation cuts and the attention of enforcement agencies

upGrad forays into Pacific region with medical institute in Vanuatu

Edtech firm upGrad on Tuesday announced that it has forayed into Pacific region with first-ever fully offline medical institute in the Republic of Vanuatu with an initial investment of USD 10 million. The company plans to set up three medical institutes in the region. upGrad Co-founder and Chairperson Ronnie Screwvala said that Vanuatu is at the centre of the educational revolution which also makes it a business-ready geography for us. Vanuatu, a country in Oceania, is a South Pacific Ocean nation consisting nearly 80 islands. "We have a strong presence in Australia, and this move in Vanuatu, which shares proximity with Australia and New Zealand, will be a critical piece in strengthening our South Pacific footprints," Screwvala said. upGrad's Institute of Medical Sciences (UIMS), a fully offline campus in Vanuatu, aims to attract and train global talent with modern day clinical competencies and build the next crop of skilled medical practitioners, the company said in a statement.

Top Headlines: 4 states breach 10% e-2W adoption, Trump's Indictment & more

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Byju's' legal battle with lenders likely to impact its fund raising

The legal battle might also delay IPO plans for its tutoring service subsidiary Aakash Educational Services, according to industry experts

Byju's lenders, their advisers weigh options after missed interest payment

The edtech company and its lenders are mired in a fight over the term loan after the firm breached terms of its debt agreement

Byju's schedules call for lenders to discuss loan amendment proposal

Byju's didn't pay $40 million in interest due Monday on its $1.2 billion loan

Byju's accuses lenders of manufacturing fake debt crisis to extort money

The company chalks up its current debt predicament to aggressive distressed-debt investors who, in its view, were never supposed to be able to buy the loan

Edtech giant Byju's rolls out AI models for hyper-personalised learning

The edtech giant has launched Byju's Wiz, a suite of three AI transformer models - BADRI, MathGPT, and TeacherGPT

Edtech giant Byju's 'skips' interest payment on $1.2-billion loan

Files suit against Redwood, alleging predatory tactics

Byju's announces plans for Aakash IPO in 2024 amid funding crunch

Edtech giant facing deadline to pay $40 mn; raises $250 mn from US investment firm