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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Tynker and Epic, on whose acquisition Byju’s spent over $700 million, fetch less than $100 million in a court-ordered auction in the US.
Tynker and Epic, two of Byju’s major American subsidiaries that were once touted as crown jewels in the edtech giant’s global expansion, have been sold at steep discounts in a court-ordered bankruptcy auction.
Coding platform Tynker was acquired by San Francisco-based education platform CodeHS for $2.2 million, while reading platform Epic was picked up by Beijing-based education company TAL Education Group for $95 million.
Tynker’s auction lasted 48 rounds, with CodeHS prevailing ultimately. CodeHS CEO Jeremy Keeshin confirmed the deal, stating, “Our goal is to strengthen and build on what’s already great about Tynker.”
In contrast, the Epic deal …
The 15-year-old company has bought one brand after another in the hope of growing fast. That plan has fallen flat on its face, but there’s no stopping Wingreens.
The seafood company solved its demand problem by aggressively buying global distributors. Now it has a financing problem that it can't solve without public money.
Co-founders Alakh Pandey and Prateek Maheshwari made Physics Wallah the company it is today by keeping their focus on the digital media, test-prep business. With fresh funds at its disposal after the IPO, it is making the mistake of believing it is an education company.
