HDFC to comply with the RBI requirements for merger with HDFC Bank has divested out of the education subsidiary, HDFC Credila Financial Services. It is selling approx 90% of Credila to a private equity consortium comprising Barings and ChrysCapital Stake is being sold for a consideration of Rs 9,060 cr valuing the business at about … Read more
A group of ad hoc term loan lenders, who collectively own more than 85% of BYJU’S $1.2 billion term loan, has issued the following statement in response to a recent lawsuit filed by BYJU’S in the Supreme Court of the State of New York County of New York. “BYJU’S’ meritless lawsuit against its term loan … Read more
Ankur Nagpal started his first company Teachable in 2013. He enjoyed running Teachable at first, but after he sold it, he was left feeling burned out. Nagpal thought he would never start another company again — until he founded Ocho Wealth. This as-told-to essay is based on a conversation with Ankur Nagpal, 34, who founded … Read more
With OpenAI’s ChatGPT passing the Wharton MBA exam, and the US law and medical licensing exams, colleges in Bengaluru are getting worried. Sanjay Chitnis, dean of the school of computer science and engineering at RV University, has issued an advisory to students and faculty saying that artificial intelligence (AI) agents such as ChatGPT, Github Copilot, … Read more
Ronnie Screwvala-led edtech unicorn upGrad said it has raised a funding of $210 million from marquee investors and Family Offices who join the company cap-table. This round has witnessed participation from ETS Global (world’s largest TOEFL & GRE Test Leader), Bodhi Tree (a JV of James Murdoch & Uday Shankar), Singapore’s Kaizen Management Advisors Pvt. … Read more
India’s most valuable startup Byju’s has just gotten bigger, with the online education platform doubling its revenue to nearly ₹10,000 crore in FY22. Based on the latest revenue figures, Byju’s is valuing itself at $22.6 billion, almost $6 billion more than its October valuation. View Full Image Self evaluation The higher revenue and valuation are … Read more
Byju’s has raised $800 million from Sumeru Ventures, Vitruvian Partners, and BlackRock, as the world’s most valuable edtech company focuses on expanding its business in global markets and explores to do more acquisitions. Byju Raveendran, founder and CEO of Byju’s, which has 150 million learners globally, is also part of this fund-raise and has made … Read more
Tiger Global-backed Byju’s is in talks for a U.S. listing through a deal with veteran dealmaker Michael Klein’s blank-check firm that could value the Indian edtech firm at $48 billion, a source told Reuters on Thursday. Byju’s, which offers online education and caters to all age groups, has benefited from a boom in online education … Read more
Edtech platform Unacademy on Tuesday said that it has acquired online tuition platform Swiflearn for an undisclosed amount, The acquisition is in-line with Unacademy’s plans to strengthen its position in the kindergarten to grade 12 (K-12) category, as it heats up the competition against rivals Vedantu and BYJU’s. Three-year old Swiflearn provides live face-to-face online … Read more