The deal, if it happens, will be a mix of cash and stock, with the merged entity exploring an IPO instead of Aakash alone seeking a public listing
Emeritus co-founders Ashwin Damera and Chaitanya Kalipatnapu expect their revenue to grow about 40 percent in 2022-23.
Moe's optimism about India's edtech sector contrasts sharply with the sector's overall sentiment, as investors have stayed away from it in the last ten months.
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.
Prepladder Neuros launch delayed till March as about 14 teachers have resigned over the last four months
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.
Masai School will use the funds to launch two new course categories and expand its existing skilling course in software development and data analytics
The alleged forced resignations come a couple of weeks after the edtech giant said it will layoff 5 percent of its workforce, or close to 2,500 employees, to cut costs as it aims to achieve company-level profitability by March 2023
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
According to an industry expert, growth-stage companies should not value themselves at more than 10 times their forward revenue multiple. Many edtech unicorns have raised had raised multi-million dollar rounds in 2021 at sky-high valuations.
The fund-raising is through a mix of preferential offer of equity shares and convertible warrants both at a price of Rs 307 per share, said a statement of the company.
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AESL’s positive commentary assumes significance given that reopening of schools and colleges in the offline mode has hit the business models of many new-age edtech startups.
The current ESOP liquidation plan is a significant opportunity given that LEAD's valuation has doubled in the last nine months on the back of solid growth in its operating and financial metrics.