Page 22 - Edtech

Lenders ask Byju's to liquidate US assets to part-repay $1.2-bn loan

The company is seeking a restructuring of the loan, but it faced steep losses. Around this time, some activist investors bought some of the bonds

Online education company for IT services Pluralsight lays off 400 employees

Online education company for IT professionals, Pluralsight, which was recently valued at more than $1 billion has announced to lay off 20 per cent of its global workforce, about 400 employees

Layoff fallout: Outplacement firms have their hands full with flood of CVs

Tough trade-off: Companies want job guarantee for people they've laid off, but on a bargain

upGrad strengthens domestic leadership with 2 strategic appointments

upGrad Strengthens Its Domestic Leadership with Two Strategic Appointments

upGrad's acquisition of test-prep provider Exampur may hit roadblock

Disagreement over valuation of Noida-based company which wants more from the deal, says source

Indian startups see huge 35% drop in funding, edtech among worst performers

As the funding winter deepens amid growing layoffs, India saw a massive 35 per cent drop in funding this year, from $37.2 billion in 2021 to $24.7 billion (till November in 2022)

G20 presidency gives India opportunity to showcase its ed-tech leadership

Given India's achievements in the digital world and Ed-tech, it can not only push education widely among the learners in India with inclusivity but also help other developing countries

Vedantu gives pink slips to 385 employees in 3rd round of layoffs this year

It has sacked over 1,100 employees, so far, amid funding winter

Edtech firm Vedantu lays off 385 employees in 4th job cut round this year

Layoffs have happened across sales, HR, and content teams which, according to the company sources, is part of an aggressive measure to reduce excess burn, thus prioritising profitability over growth

Byju's seeks easier terms on $1.2 bn loan as it struggles with losses

Byju's, valued at $22 billion, has appointed an adviser to discuss tweaks in covenants of the term loan B with creditors

Indian edtech major Simplilearn trains its sights on boot camps

The Indian edtech major is gearing up to compete with global majors in the space

upGrad-backed Harappa launches in US, to upskill 55,000 managers in 3 yrs

Harappa founders cite huge scope as 82% Americans are likely to quit their jobs because of a bad manager, while 44% managers feel they are unprepared for their jobs

What layoffs? Ronnie Screwvala-led upGrad on a hectic expansion spree

In a studied contrarian move, the Ronnie Screwvala-led edtech company is on a hectic expansion spree

Amazon to shut down its edtech platform in India, refund customers

Edtech offering was launched last year to cater to students preparing for engineering colleges' JEE

Govt to support edtech industry in framing rules to curb misleading ads

The government on Monday asked edtech companies to eliminate unfair trade practices while extending support to the industry in formalising guidelines to curb misleading advertisements in the segment. In a statement, IAMAI said that the self-regulatory body Indian Edtech Consortium (IEC) met with the Consumer Affairs Secretary Rohit Kumar Singh to update him about the progress of the self-regulation. "...the Consumer Affairs Secretary agreed to support IEC to constitute a joint working group for laying down advertising guidelines for further sanitising the Edtech ecosystem," the Internet and Mobile Association of India said. It is pertinent to mention that on July 1, Consumer Affairs Secretary called a meeting of edtech companies, and warned them against indulging in unfair trade practices, including misleading advertisements. At that time, the Centre had also told the players that it will be forced to bring stringent guidelines if there is no self-regulation by the industry players

Byju's-owned Great Learning likely to cross Rs 1,000 crore revenue in FY23

The firm is expanding in regions such as India, North America, Latin America, Africa, and Southeast Asia and is also planning to acquire various companies in these markets

Will look into financial disclosures of Byju's, says ICAI president

Move comes in backdrop of Congress MP Karti Chidambaram's letter airing concerns over results

Looking into financial disclosures of Byju's: ICAI head Debashis Mitra

Chartered accountants' apex body ICAI is looking into the financial disclosures made by edtech major Byju's amid concerns that there are issues related to them, according to a top official. The development also comes against the backdrop of Lok Sabha member Karti Chidambaram flagging concerns about the financials of the edtech startup, which has significantly expanded its operations in recent years. Last month, the Congress leader had also written to the ICAI (Institute of Chartered Accountants of India) to review the company's financials. ICAI President Debashis Mitra said the Institute is aware of the issues at Byju's and that was not just because Karti Chidambaram had written to it about the alleged issues. "We don't see any serious lapses at the company but yes it looks like there are issues around its financial disclosures. The FRRB (Financial Reporting Review Board) is also looking into the matter," he told PTI here. The institute's FRRB, constituted in July this year, works

Complaints against ads up 14%, highest came from 'education' domain: Report

Among the total 3,340 complaints processed, about 55 per cent of the objectionable ads were spotted in the digital domain, while 39 per cent were in the print domain: ASCI

upGrad to hire over 1,400 people between Nov 2022 and March 2023

According to an official report, the company has made offers to hire people across India and global offices between November 2022 and March 2023