Jan 31, 2023 05:59 PM IST

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.

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.

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

Can edtech unicorn Vedantu pull an Aakash with Deeksha buy?

Faced with falling demand for online classes, Vedantu is betting on a hybrid strategy, where it plans to offer online and offline coaching in rural and lower-tier towns at a lower price point.

Edtechs focus on cutting monthly spends as demand, funding fall

Spending on the advertising and marketing front and offers like free trials, especially in the early days, are hurting companies. The higher education and upskilling space seems to be faring better.

Vedantu strengthens offline test prep foray with $40 mn Deeksha buy

Vamsi Krishna, co-founder of Vedantu said the edtech unicorn will work with Deeksha to scale in the three states where the latter has an offline footprint, and in time move to other cities. He added that Deeksha will continue to operate as a separate brand.

Byju’s lacklustre FY21 results put spotlight on edtech valuations in India

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.

In the age of Insta, can Uable's bet on private clubs for teenagers pay off?

The social app, floated by a co-founder of edtech firm Vedantu Saurabh Saxena, has seen a good response but is far away from profitability.

Edtech unicorn Vedantu lays off another 100 employees

According to sources, permanent employees from sales and training teams were laid off over the last month.

Exclusive | WestBridge Capital raises $1.5 billion in largest-ever commitment for Indian companies

Westbridge Capital joins a growing list of PE and venture capital (VC) firms to raise large funds for India-focused companies

Why are edtech companies going hybrid?

How offline became the new online for India’s ed tech unicorns

As the coronavirus pandemic ebbs, parents, students, investors, and startup founders seem to have found a common ground that suits all and offers the best of both worlds—hybrid coaching

More than 12,000 Indian startup employees lost their jobs in 2022: Report

As startups in India keep sacking their employees to navigate through the "funding winter", the country is expected to witness more than 60,000 job losses in 2022 alone.

Vedantu joins Byju's, Unacademy, PhysicsWallah to open offline centre

Vedantu joins a growing list of edtech unicorns to open offline tuition cetres. SoftBank-backed Unacademy, Byju's and Physicswallah have opened offline tuition classes across the country in a bid to capitalise on rising demand for offline coaching with the pandemic situation normalising.

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Edtech unicorn Vedantu's loss widens four times in FY21 as employee expenses soar

The edtech company, which got valued at over a billion dollars in September last year, reported a fourfold increase in expenses to Rs 744 crore for FY21 from Rs 186 crore a year earlier, as employee benefit expenses rose to Rs 408 crore in FY21 from Rs 88 crore in FY20

Layoffs, restructuring, slowdown: India’s edtech firms are struggling post-pandemic

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

He rejected an offer from Unacademy and now runs an edtech worth a billion dollars: Meet PhysicsWallah’s Alakh Pandey

"My students inspire me, that’s what keeps me going," says the PhysicsWallah cofounder who shunned an offer worth millions

Founders have to take tough calls in difficult times: Vedantu CEO Vamsi Krishna

Vedantu’s move of laying off 624 employees comes amid murmurs that the edtech sector in India is slowing down with schools and physical tuition classes reopening, thanks to decreasing COVID-19 cases across the country.

Bits to Billions | Vedantu: How three IIT graduates became teachers and built a billion-dollar edtech company

Preparing for tough times is something Vedantu is used to by now, as it has seen boom and bust cycles in the past. But it survived, and went on to become a unicorn in 2021, and now competes with Byjus and Unacademy. Founded by Vamsi Krishna, Pulkit Jain, Anand Prakash, and Saurabh Saxena in 2014, Vedantu currently provides live coaching classes for K12 students, including for entrance exams such as IIT JEE Main and Advanced for engineering and NEET for medical colleges. It also provides classes for CBSE, ICSE and various state boards. In this interview with Moneycontrol's Chandra R Srikanth, the founders spoke about the slowdown in edtech post pandemic, tough calls that need to be taken and growth.

SoftBank-backed Cars24 lays off 600 employees in cost-cutting drive

Cars24 joins the likes of well-funded tech startups such as Vedantu, Unacademy, and Meesho to lay off hundreds of employees as investments have dried up.

Vedantu to lay off 424 employees, blames 'scarce capital'

CEO and co-founder Vamsi Krishna told employees in a blog that capital would be scarce in the coming quarters.

9Unicorns marks fifth close of its maiden fund at $100 million

Apart from Vedantu and ShipRocket, 9Unicorns has so far invested in startups like Melorra, Reshamandi, Biddano, BluSmart, IGP.com, Faarms, Instoried and GoQii, through its maiden fund.

MC Interview | $200 mn ARR is when we shall look to float an IPO, says Vedantu co-founder Vamsi Krishna

When we are targeting the number, we are contemplating whether it will lead to 25% margin or 30% margin. Anywhere above 25%, we shall be super happy, says Krishna

Government cautions against predatory edtech tricking parents into paying for 'free services'

This comes after Parliament member Karti Chidambaram called for regulation of edtech companies