The child rights organisation has already summoned Byju Raveendran on December 23 over alleged malpractice of hard selling and misspelling of its courses to the students, based on a news report.
Amazon Academy will discontinue operations starting August 2023; to wind down in a phased manner to take care of current customers.
Swiggy’s one of the biggest investors Prosus says its share of Swiggy's trading losses increased to $105 mn on investment in both core food delivery biz and Instamart.
The layoffs announced by the global tech giants were on the cards, but the way the developments are unfolding an erosion of brand value at least in the short-term is imminent.
Light At the End Of The Tunnel: Why the K-12 edtech boat is rockier than higher-ed
The development comes days after India's most valued startup said it will lay off 2,500 employees.
The Bengaluru-headquartered edtech unicorn had acquired Aakash Institute in April last year for a cash and stock deal worth ₹1,983 crore.
Byju's standalone income, which comprises its K-12 business, stood at ₹1,551.64 crore in FY21, while it reported a massive jump in expenditure at ₹4,253.78 cr.
Ed-tech major Byju's says it has adopted a "three-pronged" approach to achieve its plan of group-level profitability by March 2023.
These measures will help us achieve profitability in the defined time frame of March 2023, says Byju's.
