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INDIAN EDTECH CRISIS
From $22 billion to zero: Success, not failure, brought Byju downByju's, once a $22 billion edtech giant, has collapsed. Founder Byju Raveendran faces jail for contempt. The company's downfall stems from ...- 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.
- Top tech and startup stories this weekWelcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
- Audit shadows BluSmart’s books; Zomato rejigs top deckHappy Thursday! BluSmart faces a forensic audit as losses mount. This and more in today’s ETtech Morning Dispatch.
- Investors leaving board was biggest setback; Byju's now worth zero: founder RaveendranThe founder of the once-most-valued Indian startup said investors threw Byju’s under the bus at the first sign of crisis. While sounding op...
- Byju's faces total shutdown if insolvency proceeds: CEO Byju RaveendranByju's, valued at $22 billion, may shut down due to insolvency, stated CEO Raveendran. Byju's, backed by investors like Prosus and General ...
- Byju's moves NCLAT against NCLT's insolvency order; seeks urgent hearingEdtech firm Byju's has moved the National Company Law Appellate Tribunal against the recent order of NCLT. The company is seeking an urgent...
- Startups’ annus horribilis; and other top tech stories this weekIndian startups are closing 2023 with a cloud of uncertainty looming large over them.
- Dunzo’s funding plans hit a roadblock; software firms seek changes to local value addition normsTroubled quick commerce company Dunzo, in desperate need of cash, is in talks for a funding deal with its investors. But with that comes a ...
- Byju's interest cost on term loan may jump by $50-60 million a year under new termsEdtech firm Byju's may have to pay an additional $50-60 million annually in interest on its $1.2 billion term-loan facility as part of new ...
- Emerging from crisis: A happy new decade for IndiaET has invited a galaxy of experts to share their perspectives on the potential that can be unleashed in some key sectors. Ridham Desai of ...
- Central government asks Serum Institute and Bharat Biotech to lower price of COVID-19 vaccines, say official sources
- ETtech Evening Briefing on Feb 17, 2021: Edtech & Extracurriculars, How Amazon dodged India rules2020 was the year that education moved online, and 2021 will see extracurriculars follow suit, investors in edtech startups. Inside Amazon’...
- Indian startups attract $10.14 billion in funding in 2020: ReportThis is the third year in a row that India has kept its number four position globally after the US, China and the UK.
- Indian tech startups added a record number of unicorns in 2020: NasscomRemote work helped startups reduce burn and accelerated the growth of new tech hubs.
- 2021 Tough Job: Buoyancy in the job market may continue to be missing, but bad news won’t get worseThe Make-in-India drive will bring in some fresh investments but do not bet big on it to create many jobs. For a country that adds 7-10 mil...
- After a quarter of survival, the next one is about adapting for start-ups and new businessesMost investors agree with this sentiment.
- Engineers crowd coding schools to upskill to stay relevant in job marketExperts said the Covid-19 crisis has spurred companies to adopt technology into each of their functions, and that skills in Python, Android...
- Thousands of India’s startups face an existential crisis: Rajan Anandan, MD, Sequoia Capital IndiaSome are finding ways to navigate the storm, but for many this Black Swan event could be their Swan Song.
- Time to press the reset button to survive the Covid-19 crisisThis can be an opportunity for the government in India to implement the long-awaited measures in the areas of infrastructure development, l...
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