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EDTECH VALUATION CORRECTION
Buy, Sell or Hold: Goldman Sachs maintains neutral on Physicswallah; Morgan Stanley remains overweight on TVS MotorBrokerages maintain selective bullishness on consumption and mobility stocks, citing strong operating momentum and market share gains. Morg...- GACM Technologies to acquire 30% stake in AI edtech firm WeXLThe deal will help GACM Technologies diversify into the fast-expanding education and GovTech segment with government orders, long-term cont...
- From $22 billion to $1 billion: Byju’s valuation at BlackRock bottomPreviously, BlackRock had valued Byju's at $8.2 billion at the end of the March quarter of 2023. For Byju's, this is not the first valuatio...
- Byju’s valuation below $3 billion; company facing challenges: Prosus interim CEOLate last year, Prosus said it had ceased equity accounting of Byju’s as it had lost “significant influence” over the firm after its holdin...
- Baron Capital marks up Swiggy, Pine Labs valuation; almost halves Byju’s valueIn its April-June quarterly report, Baron Capital cut the valuation of Byju’s to $11.7 billion as of June 30, down 44.6% from $21.2 billion...
- Expect further corrections in startup valuations: Prosus CEO Bob van DijkThe froth of the low-interest rate regime hasn’t fully been washed away and the startup ecosystem is likely to see valuations drop further,...
- Byju’s begins another round of layoffs; to impact 500-1,000 employeesThe fresh set of layoffs at Byju's is expected to impact employees across marketing, sales, business development as well as product and tec...
- Byju’s to lay off more staff in fresh cost-cutting driveThe cost correction comes right on the heels of the company skipping a quarterly interest payment of about $40 million earlier this week on...
- Byju’s lenders scrap talks to recast $1.2B loan; Janus Henderson cuts PharmEasy valuation furtherByju’s woes seem to have no end. The company has suffered a series of setbacks over the last year, including ED raids and valuation markdow...
- US fund cuts edtech Eruditus’ valuation by 9% to $2.9 billionThe markdown has translated to a valuation of about $2.9 billion as of March 31, 2023, a drop from $3.2 billion in August 2021, a price at ...
- Funding crunch healthy for startups as it’ll bring profitability to the fore: GSV’s Deborah QuazzoDeborah Quazzo told ET during an exclusive interaction that the pace of investments has slowed down in both the US and India and is likely ...
- B2C edtech firms must learn to adapt: Lead cofounder Smita DeorahSmita Deorah, cofounder and co-CEO of school edtech unicorn Lead, said the adoption of online edtech solutions grew during Covid-19 as scho...
- Next few months will see turmoil globally, but India is poised to grow: ETSA panelistsStartups need to focus on unit economics and hunker down to endure the ongoing turbulence in the tech world, said the group of eminent busi...
- What went wrong with Byju’s? Shriram Subramanian has a take“If despite the tailwinds in its heyday, Byju’s was not profitable or did not create a buffer, then how is it going to weather even a simpl...
- Vedantu says it is laying off another 424 employeesVedantu had earlier fired 200 of its contractual and full-time employees, amid cratering demand for online education, owing to the opening ...
- Blinc Invest marks the final close of its second fund at Rs 100 croreThrough Blinc Fund II, the venture capital fund plans to make five-seven investments of Rs 10-20 crore each.
- Startups shed flab amid slowdown in large funding roundsThe trend is likely to play out further, though the early-stage funding ecosystem has yet to significantly taper off. Investors have begun ...
- Vedantu eyes $100 million from Coatue at $600 million valuationNew York-based Coatue is a known technology investor, having backed Uber, Meituan Dianping and DoorDash globally, along with bets on Swiggy...
- Tencent’s becomes the Alibaba of Indian startup sceneThis comes at a time when India is emerging as the next frontier of growth given that fewer Chinese startups are going public due to the un...
- Amadeus Capital sets its sight on India, eyes marketplaces, ed-tech and fintech firmsFor India, Amadeus is not eyeing a fixed number of investments but early growth stage firms where product-market fit is well established, a...
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