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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.
In the last two years, foreign education plans have been dealt a body blow by changes in regulation, a rise in fraudulent activities and misaligned incentives for brokers, students and foreign universities. Indian students are among the worst hit.
Editor's note: This story is essential reading for everyone who is a participant in the study-abroad industry. If you are a parent, planning for your children’s education abroad, make sure you read this story to understand the ground realities. For anyone starting a startup or funding a company in this business, this story is for you. This story is also for policymakers who must now come to terms with a new world order where the doors for many Indian students are shut in pursuing an education abroad.
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.
Profit or loss is a definitive number because it can be traced back to a company’s books of accounts, audited by a certified auditor. Any number that doesn’t have this stamp of sanctity is a baseless claim.
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.
