Edtech firm Upgrad has signed a term sheet to acquire rival Unacademy in an all-stock transaction, founders of the two companies said in separate posts on X on Saturday, marking a significant consolidation move in India’s education technology sector.“We at Upgrad have signed a term sheet to acquire Unacademy in an all-stock deal,” Upgrad founder … Read more
Ad Astra, a pre-kindergarten Montessori school funded by Elon Musk, has received its initial state permit, allowing the facility to begin operations in Bastrop County, Texas. The Texas Health and Human Services Commission confirmed the licensing on November 14, after an earlier inspection cleared delays in the application process, Fortune reported. A STEM-focused mission Located … Read more
Good news for Indian students! The Consulate General of India (CGI) in New York has launched a dedicated platform for you to find internship opportunities at companies in the United States. And it doesn’t end here. The portal also provides information about experts offering psychological and healthcare advice to Indian students. Here’s what the consulate … Read more
Financial firm HSBC has cast serious doubt on the future of Indian edtech giant Byju’s, assigning zero value to Prosus’ nearly 10% stake in the company. This harsh assessment comes amidst Byju’s ongoing legal battles and deepening financial woes. Prosus is a Dutch-listed technology investment company. In a note to investors, HSBC highlighted multiple factors … Read more
Byju Raveendran, founder and CEO at troubled edtech startup Byju’s hit out at a group of investors, stating that their move to disable the company from using the funds raised through the rights issue has hindered disbursement of salaries to employees. “….I regret to inform you that we will still be unable to process your … Read more
New Delhi: The Directorate of Enforcement (ED) has asked the Bureau of Immigration (BOI) to issue a look out circular (LOC) against Byju Raveendran, founder and CEO of the eponymous, embattled edtech company Byju’s, people with knowledge of the matter told ET. The central agency approached BOI earlier this month to issue a fresh LOC … Read more
The Enforcement Directorate (ED) on Tuesday issued showcause notices to troubled edtech startup Byju’s and its founder and group CEO Byju Raveendran over alleged violation of the provisions of the Foreign Exchange Management Act (Fema) amounting to over Rs 9,362 crore. The ED, which had initiated investigation against the startup earlier this year, has accused … Read more
Troubled education provider Byju’s is in advanced talks to sell its US-based kids’ digital reading platform for about $400 million to Joffre Capital Ltd., seeking funds to ease its financial pressures. The potential sale of Epic! Creations Inc. would help Byju’s raise funds to pay down a disputed $1.2 billion term loan, people familiar with … Read more
The New Education Policy 2020 is a very progressive policy and States are free to adapt it according to their requirements, Union Finance Minister Nirmala Sitharaman said in Bhubaneswar on Thursday. “The NEP 2020 is a very progressive policy. It’s a result of so many people putting their minds together and extensive consultations. I am … Read more