Byjus

Edtech firm Byju's said on Monday that it has completed payment that was due for the acquisition of Aakash Educational Service and received majority of $800 million (roughly Rs. 6,300 crores) fund which it announced in March.The company is estimated to have acquired Aakash Educational Services Limited for around $950 million (roughly Rs. 7,500 crores)."Our fundraising efforts are on track and the majority of the $800 million (roughly Rs. 6,300 crores) has been already received. The balance is also expected soon. Our…

The Central government on Friday warned edtech companies against unfair trade practices.In a meeting with self-regulatory body India Edtech Consortium (IEC), which runs under the aegis of Internet and Mobile Association of India (IAMAI), Consumer Affairs Secretary, Rohit Kumar Singh, said that if self-regulation does not curb unfair trade practices, then stringent guidelines would require to be formulated for ensuring transparency.The meeting was attended by representatives of the IAMAI, along with IEC member companies…

The government has warned ed-tech companies against unfair trade practices in India. In a meeting with industry body India Edtech Consortium (IEC), Consumer Affairs Secretary said that stringent guidelines would need to be worked out for ensuring transparency if self regulation does not curb the unfair trade practices in the sector. The meeting was attended by IEC member companies including Byju's, upGrad, Unacademy, Vedantu, and WhiteHat Jr, among others. Ed-tech platforms gained massive attention during the initial…

Edtech major Byju's on Thursday said that less than 500 people have been laid off at WhiteHat Jr and Toppr, but sacked employees have claimed that 1100 staff had been retrenched at Toppr alone.The layoff at Toppr comes alongside Byju's group firm WhiteHat Jr retrenching 300 employees in addition to the resignation of 250 employees from the company in April-May."To recalibrate our business priorities and accelerate our long-term growth, we are optimising our teams across our group companies. This entire exercise involves…

Edtech major Byju's on Thursday said that less than 500 people have been laid off at Whitehat Jr and Toppr, but sacked employees have claimed that 1100 staff had been retrenched at Toppr alone.The layoff at Toppr comes alongside Byju's group firm Whitehat Jr retrenching 300 employees in addition to the resignation of 250 employees from the company in April-May."To recalibrate our business priorities and accelerate our long-term growth, we are optimising our teams across our group companies. This entire exercise involves…

In a big overhaul as the Indian edtech space shrinks considerably, online learning giant BYJU's has cut at least 600 jobs -- asking 300 employees at its Toppr learning platform and another 300 at coding platform WhiteHat Jr to go.For the layoff at Toppr which it acquired last year for $150 million, BYJU's confirmed the development, saying it has completed "the integration of Toppr and has absorbed almost 80 per cent of its talented workforce into the BYJU'S ecosystem".After the acquisition was completed, Toppr's employees…

Edtech leader BYJU's is in for a big change with its Founder and CEO Byju Raveendran set to focus his energies on global operations, especially in the US, as the Indian online edtech market shrinks considerably with schools, colleges and tuition centres reopening.Sources close to the development told IANS that Raveendran is all set to hand over India operations to Chief Operating Officer Mrinal Mohit.BYJU's, which was last valued at nearly $22 billion making it India's most valued start-up, declined to comment on the…