Friday, 2 December, 2022
TopicByju’s

Topic: Byju’s

Karti Chidambaram says BYJU’s not in ‘sound financial health’, seeks probe by ICAI

Shania Mathew -
In a letter to ICAI President Debashis Mitra, Chidambaram raises concerns about BYJU’s ‘misrepresentation of facts’ & the company’s 18-month delay in filing its FY21 financials.

Byju’s to cut 2,500 staff, aims for ‘sizeable savings’ & profitability by March 2023

Reuters -
In May, the company reported a loss of Rs 4,564 crore ($554.77 million) for fiscal 2021 due to higher promotion and employee expenses.

Edtech firm Byju’s to fire 2,500 employees in push to achieve profitability in next 6 months

Nandan Mandayam -
The startup said it expects layoffs at its product, content, media & technology teams and revision of sales & marketing approaches to result in 'sizable savings' with no impact on growth.

In a move to expand in US, Byju’s offers over $1 billion for edtech firm 2U

Saritha Rai -
Byju’s is said to have made the offer of about $15 a share to 2U’s board last week. The offer represents a 61% premium to 2U’s closing price of $9.30 on Nasdaq on Tuesday.

Schools, universities in the metaverse? Why virtual reality is catching edtech’s attention

Soniya Agrawal -
Until now, India's edtech boom was characterised by online video sessions and pre-recorded lessons. Proponents of metaverse classrooms have a whole other thing planned.

Byju’s global expansion: EdTech pioneer eyes Chegg or 2U, weighs US acquisition

Saritha Rai -
India's most valuable startup has lined up conditional debt commitments of more than $1 billion to finance the acquisition, but it's possible no deal will materialise.

Mass layoffs, offline classes: How edtech is coping with schools, colleges reopening

+TFP Kritika Sharma -
With real-world campuses back in action, edtech platforms like BYJU’S and Unacademy have been forced to make changes. But experts agree: it isn’t game over yet for e-learning.

Now, tuitions at Byju’s: Edtech giant launches in-person coaching for kids in classes 4-10

Kritika Sharma -
Offline classes in maths, sciences announced for school pupils through 500 centres across 200 cities. Only available combined with online classes in hybrid mode.

Byju’s negotiates merger with special-purpose acquisition companies, to go public within a month

Saritha Rai -
Byju's is leaning towards a SPAC merger instead of a traditional IPO because it sees value in having U.S. investors and strategic partners, people familiar with the matter said.

Byju’s ad shows teachers’ tough love. Reminds me of Sergeant Hartman from Full Metal Jacket

Shubhangi Misra -
The Byju’s ad looks similar to the classic Bournvita ad campaign, Taiyari Jeet Ki, where parents can be seen aggressively training their kids.
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Opinion

India's presidency will be taking G20 closer to public: MEA

Joko Widodo led G20 in tough times, Modi also has the responsibility of the underdeveloped

Seshadri Chari -
While we pat ourselves on the back for growing number of startups, we need to pause and consider the reasons for our poor show on the industrialisation front.
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Economy

51 cow universities, old pension scheme, jobs — what RSS affiliates want from 2023 Budget

Shanker Arnimesh -
Welfare schemes and ‘self-reliance’ figure high on Sangh organisations’ wishlists for finance minister Nirmala Sitharaman ahead of the Budget, which she will present on 1 February.

Defence

A soldier with 'Arjun', a black kite trained to down enemy drones, during the Yudh Abhyas exercise being held in Auli, Uttarakhand | Suraj Singh Bisht | ThePrint

It’s a plane, no it’s a bird! Army’s training eagles & falcons to swoop down on hostile drones

Vandana Menon -
The birds are also being trained for surveillance at Remount Veterinary Corps Centre in Meerut, with cameras fitted to their heads to record videos.

National Interest

A Gujarat gamble: A likely reason Rahul is not giving Modi a fight this assembly election

Shekhar Gupta -
I'd rather not buy idea that Rahul's holding his fire until 2024. More likely, Congress believes Karnataka offers best chance of winning a Gujarat-sized state if Gujarat is too challenging.

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