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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.
The exits are the latest reminder of the multiple crises brewing at the edtech company, which is reeling under liquidity pressure.
Byju’s, India’s largest edtech company, is undergoing a major overhaul. In a last-ditch move to cut costs and survive amidst debt repayments, lack of funding and poor cash flow, the company has fired thousands of people, including senior leaders like marketing head Atit Mehta, content head Asheesh Sharma, SaaS vertical head Deepak Ananthakrishnan and K-10 (kindergarten to grade 10) vertical head Ramesh Karra.
“These are the key top-level exits. Apart from them, a lot of employees at the VP and AVP level have been fired from functions like sales, post-sales and tutoring,” says a person in the know, requesting anonymity. …
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.
The latest quarterly report on the emirate’s real estate market, a new listing in Saudi Arabia and an Airtel arm eyes a UAE IPO.
In the making for many months now, the final outcome at the edtech startup is an instructive episode for both founders and venture investors on when they must let go.
