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AI spooks IT valuations; Groww promoters cut stakeAI has pushed valuations of India’s top IT firms to 2008-09 levels. This and more in today’s ETtech Top 5.- Earnings roundup: Infosys, Licious and GrowwIT major Infosys was hit by a small profit dip despite revenue growth in Q3. This and more in today's ETtech Top 5.
- After failed acquisition talks with Upgrad, Unacademy pivots back to online test prepIn an internal email to employees, cofounder and CEO Gaurav Munjal said Unacademy sharply reduced cash burn in its test prep business in ca...
- Unacademy now ‘default alive’, to cut cash burn to Rs 200 crore in 2025: CEO Gaurav MunjalUnacademy aims to reduce cash burn to under Rs 200 crore in 2025, a sharp drop from Rs 1,000 crore in 2021. CEO Gaurav Munjal says the star...
- Unacademy CFO Subramanian Ramachandran resignsThis is the second exit among chief executive Gaurav Munjal's team of direct reportees since August, when the startup's chief operating off...
- Unacademy's Graphy slashes about 30% jobs amid restructuring: reportAccording to an Inc42 report, citing sources, Graphy, which provides learning management system services to edtech creators, has been strug...
- Edtech firm Unacademy’s COO Vivek Sinha resignsSinha had joined the company in 2020 after a decade with organisations such as Reliance Energy, Lodha, MobiKwik and Oyo.
- Praise for India’s new data law; Amazon challenges Google-Meta ad duopolyIf imitation is the sincerest form of flattery, India’s new data privacy law has already made a mark internationally. Not only are major ec...
- Unacademy elevates Sumit Jain to cofounder statusJain joined Unacademy in April 2020 and cofounded the firm’s Graphy division which allows educators and creators to launch their own online...
- Indian startups now struggling to survive in creator economy spaceStartups in the Indian creator economy space are struggling to stay afloat primarily due to their failure to find a product-market fit even...
- Ripple effects of Byju’s crisis; Foxconn pings others as Vedanta JV stallsThe crisis at Byju’s is experienced first-hand by its employees, who now stare at an uncertain future as their employer battles one problem...
- Unacademy to be profitable at group level in April: CEO Gaurav MunjalWith a cash balance of Rs 1,977 crore and an average monthly burn of Rs 17 crore, the Unacademy group will have at least 116 months of runw...
- Edtech unicorn Unacademy’s consolidated loss widens to Rs 1,474 crore in FY21Unacademy's revenue from operations rose to Rs 337 crore in FY21 from Rs 65 crore in the previous fiscal year.
- Unacademy CEO warns of long funding winter; Infy CEO’s pay rose 43% in FY22Gaurav Munjal, cofounder of SoftBank-backed Unacademy, has told its employees the funding winter will last at least 12-18 months, saying th...
- Unacademy CEO says funding ‘winter is here’; tells employees to adapt, target profitabilityUnacademy had recently laid off over 600 employees as demand for online education slowed down due to opening up of offline institutes.
- What’s next for Unacademy as it slashes 1,000 jobs in a massive cost-cutting exerciseAccording to people aware of the matter, out of the 1,000 employees who have been fired in the past few weeks, about 300 were educators on ...
- More funds eye Paytm IPO; govt may rethink safe harbour rulesPaytm's highly anticipated IPO has drawn the attention of various funds in the US and Europe.
- Unacademy valued at $3.4 bn post new funding, will diversify beyond edtech: CEO Gaurav MunjalUnacademy’s cofounder Gaurav Munjal plans to use the new funding to build new lines of business in segments such as jobs and hiring, where ...
- Creators get new tools to monetise their audienceIndian cos building paid-private communities, cohort-based platforms for creator economy
- Acceleration in edutech growth will sustain post Covid-19: ETILC membersAccording to a report by RedSeer and Omidyar Network India, the online education market for class 1-12 is projected to increase 6.3 times i...
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