March 30, 2023 09:39 AM IST

Unacademy sacks another 380 employees in fourth round of layoff in 12 months

Unacademy's latest round of layoffs comes just four months after the SoftBank-backed edtech laid off 350 employees or about 10 percent of its staff in November.

Exclusive: PhysicsWallah in talks to raise around $250 million; eyes $3.3-bn valuation

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.

Byju's lays off at least 1,000 more employees as sales falter, funding winter worsens

None of the employees were told about the layoffs over mail, as emails tend to get leaked, sources said. Byju's rather told employees over normal and WhatsaApp calls to join a call over Google Meet and were informed about the layoffs there, sources said

Tiger Global-backed Vedantu's loss widens to Rs 700 crore in FY22

Vedantu had reported a loss of Rs 616 crore in FY21. It spent Rs 489 crore on employees in FY22, 20 percent more than a year earlier.

Byju’s to open 300 physical tuition centers this year as it bets big on hybrid learning

Byju Raveendran said that the company is experiencing continued momentum in demand for its core business, which is online K-12 learning, even as some of the company's closest competitors are witnessing slower growth following the pandemic.

Davos 2023: Let the world think Byju’s is struggling, give us 6 months, says Byju Raveendran

In a chat with Moneycontrol, Bjyu’s founder Byju Raveendran and co-founder Divya Gokulnath exuded confidence about turning profitable on a company level over the next quarter. They also spoke about exiting some branding contracts to optimise costs.

Byju’s will not renew its branding partnerships with BCCI, ICC and FIFA, says CEO Raveendran

Byju's currently has three large branding partnerships with the BCCI (Board of Control for Cricket in India), ICC (International Cricket Council), and FIFA (Federation Internationale de Football Association) that will be up for renewal, but the company will not renew any of them, according to co-founder and CEO Byju Raveendran.

Davos 2023 | Byju's 2.0 will be much better, the worst is behind us, says Byju Raveendran

Raveendran also claimed that by the end of this quarter or by the next quarter FY24, Byju's will turn profitable on a company level

School edtech platform LEAD raises Rs 160 crore in debt capital, a day after layoffs

The new funding round was a mix of long-term debt capital from venture debt firms Alteria Capital and Stride Ventures and working capital finance from banks such as Standard Chartered Bank, HDFC Bank, and ICICI BankLEAD plans to use the funding for financing the company's organic and inorganic growth.

School edtech unicorn LEAD undertakes another round of layoffs

The startup had in August let go of about 100 employees after a performance review, which the company said was an annual exercise

Unacademy's Relevel to layoff 40 more employees as it pivots from education biz to tests product app NextLevel

The latest round of layoffs and Relevel's move to shut down its core business further highlights the predicament of the job guarantee vertical, which was struggling since August last year

Cockroaches in demand as unicorns catch a cold this funding winter

After a tumultuous 2022, as investors and founders gear up for an uncertain 2023, it will be interesting to see who wins the race--mythical unicorn beasts or grounded, immune cockroaches that can outlive a nuclear war

Hate is public, love is private: Byju Raveendran to employees on his 2022 learnings

Byju Raveendran's comments on how users like Byju's courses come at a time when the company has been heavily criticised in the media about allegedly mis-selling and over-selling its courses, even to poor families in the country.

Indian startups laid off close to 20,000 employees in 2022 as ecosystem faces prolonged funding winter

Since the beginning of the year, about 50 startups have laid off a large number of employees, citing funding constraints and restructuring, while others have shifted the blame to employees' performance, calling the layoffs standard.

Messi, mis-selling, sackings, and burning cash: Byju's’ annus horribilis

The startup superstar has gone from hero to zero rather rapidly. Will the picture be somewhat different in 2023? Coming soon to a screen near you

Tiger Global-backed Vedantu lays off another 385 employees to focus on profitability

Employees from across verticals have been laid off but learning content, HR (human resources) and sales enablement teams are the most affected teams

Lightspeed-backed Teachmint becomes latest edtech startup to lay off employees

Teachmint has offered a severance package of three months and health coverage to the laid-off employees and would would also expedite the vesting of ESOPs for the affected employees and the laid-off employees can apply for different roles within the organisation

Investors favour upskilling platforms as other edtechs struggle with funding winter

Higher education and upskilling startups have raised $1.1 billion in private equity and venture capital funding so far this year, slightly less than the $1.25 billion raised in the first 11 months of 2021, according to data by Tracxn Technologies.

Amazon to wind down online learning vertical in India as demand falters post pandemic

Amazon launched Amazon Academy in India in January 2021, when the edtech sector was peaking in the country, thanks to stay-at-home Covid-19 restrictions

Why educators are on a warpath with Unacademy-owned PrepLadder

At least six of the 19 PrepLadder educators are refusing to renew their contracts after their remuneration was cut 30-75%. Five more allege that PrepLadder misled them while renewing contracts. Unacademy was caught in a similar controversy with one of its other portals, Relevel, in September

Masai School onboards Mithali Raj, Bhaichung Bhutia as investors, raises $10 mn in funding

Masai School will use the funds to launch two new course categories and expand its existing skilling course in software development and data analytics

Unacademy lays off 10% of workforce as funding winter for edtech worsens

The layoffs would happen across verticals, some of which would also be shut or scaled down, Munjal told employees in an internal email, a copy of which was seen by Moneycontrol.

K-12 edtech firm Practically lays off staffers, holds salaries citing funds crunch

So far this year, Indian edtech companies have laid off over 7,000 employees, citing financial headwinds

Why are ed-tech companies laying off in masses?