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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.
A potential IPO of the test-prep company could have saved a cash-strapped Byju’s. The latest crisis exacerbates the edtech firm’s financial woes.
US-based investment fund Davidson Kempner Capital Management has accused Byju’s, India’s largest edtech company by valuation, of financial misconduct, taking control over Aakash Educational Services Ltd and its accounts, according to four people in the know. They all requested anonymity.
In an email response to queries sent on Sunday, a Byju’s spokesperson denied any such event. “This is entirely incorrect,” the spokesperson said. “We request you to recheck the veracity of your information, or the reliability of your source, before publishing this wildly inaccurate claim.”
However, Byju’s, says one the four people cited above, “took out money from the loan …
AI is set to disrupt the sector. While the path ahead looks tough for legacy publishers like S Chand Publishing and Arihant Publications, things don’t look encouraging for others in the industry either.
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.
As AI advances rapidly, leadership, judgment and strategy matter more than ever. Today’s MBA is evolving to shape leaders for an AI-led world.
