Even as startups cut spending, edtech companies seem to be taking the poaching of teachers for online coaching centres to the next level.
Reality show-worthy drama has been playing out over the last few days at PhysicsWallah, the edtech unicorn where a group of teachers is busy trading allegations of bribery and internal politics.
India’s only profitable edtech start-up is trying to raise funds not because it needs the money, but to increase its valuation and for potential M&A deals.
PhysicsWallah CEO Alakh Pandey contributed towards the ‘samuhik vivah’ or mass marriage of 300 couples in Prayagraj, Uttar Pradesh.
Alakh Pandey took to social media to share photos from the meeting, where they spoke at length about India's education system.
PhysicsWallah founder and CEO Alakh Pandey married Shivani Dubey on February 22. Their wedding reception was attended by Aman Gupta, Prafull Billore and other entrepreneurs.
PhysicsWallah CEO Alakh Pandey will contribute to the mass weddings of 300 couples under the Uttar Pradesh government’s ‘Samuhik Vivah Yojana’.
PhysicsWallah founder and CEO Alakh Pandey married girlfriend Shivani Dubey in a private ceremony on February 22.
Alakh Pandey, dropped out of college in his third year to teach physics at an institute in Kanpur. He then founded PhysicsWallah which raised $100 million in Series A Funding, becoming a part of the list of unicorns in India last year.
From OYO’s Ritesh Agarwal to PhysicsWallah’s Alakh Pandey - here is a look at the Indian entrepreneurs who will tie the knot in the coming weeks.
S Chand, along with wholly-owned subsidiaries Vikas Publishing and Chhaya Prakashani, had acquired a minority stake in iNeuron Intelligence, an AI and data sciences-focused edtech platform, in December 2021 in two tranches
PhysicsWallah reported a net profit of Rs 97.8 crore for FY22, up nearly 14 times from its FY21 profit of Rs 6.93 crore. Its revenue from operations grew nearly 10-fold during the period to Rs 232.5 crore from Rs 24.6 crore in FY21
PhysicsWallah has acquired three companies since it became a unicorn in June this year. In August, the company had acquihired edtech startup FreeCo to enhance its existing services
The Instagram account of Alakh Pandey has been blocked on charges of impersonation which the co-founder and CEO of PhysicsWallah says are bogus.
Vohra, 19, has in fact become the youngest Indian and the first teenager to have personal wealth of at least Rs 1,000 crore, thanks to an over 50 percent rise in the valuation of Zepto, which he founded with Aadit Palicha in 2020, the report titled IIFL Wealth Hurun India Rich List 2022, showed. Palicha, 20, has also made it to the list.
PhysicsWallah’s comments on profitability and the company’s expansion plans come at a time when edtech companies in India have struggled with softening demand post the pandemic amid reopening of schools, colleges and physical tuition centers.
With its newly-secured $100 million funding, Edtech startup Physics Wallah is looking to expand its business by opening more offline centres and introducing courses in vernacular languages
PhysicsWallah raised the money at $1.1 billion valuation, becoming India's 101st unicorn, the company said. PhysicsWallah said it plans to use the funds for business expansion, branding, opening more offline learning centres, and introducing more course offerings, the company added.
The slowing demand for technology-based education services, coupled with the much-talked-about funding winter, has had a domino effect on India's thriving edtech companies, forcing them to lay off employees, go slow on expansion, cut down excess spends and explore newer revenue streams. Some edtech companies have even shut operations
A daily round-up of the most interesting articles to help jump-start the day.
Our specially curated package of the most interesting articles of the day will help you stay at the top of your game.
"My students inspire me, that’s what keeps me going," says the PhysicsWallah cofounder who shunned an offer worth millions