Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

The <keyword id="19895345" type="General" weightage="20" keywordseo="Supreme-Court" source="keywords">Supreme Court</keyword> on Friday agreed to list for an early hearing the appeal of US-based creditor Glas Trust Company LLC against a judgment of the <keyword id="19916400" type="General" weightage="20" keywordseo="NCLAT" source="keywords">NCLAT</keyword>, which had stayed <keyword id="19965539" type="General" weightage="20" keywordseo="insolvency-proceedings" source="keywords">insolvency proceedings</keyword> against ed-tech firm <keyword id="19958178" type="General" weightage="20" keywordseo="Byjus" source="keywords">BYJU's</keyword> and approving its Rs 158.9 crore dues settlement with the <keyword id="19901245" type="General" weightage="20" keywordseo="BCCI" source="keywords" meta.keywordsubtype="org" meta.entityname="BCCI" meta.hostid="153" meta.entityid="BCCI">BCCI</keyword>. A bench comprising Chief Justice D Y Chandrachud and Justices J B Pardiwala and Manoj Misra was urged by senior advocate NK Kaul, appearing for the ed-tech major, that the case needed to be heard at the earliest. Kaul said, "The only funding was done by the promoters and today no one has brought any external borrowing. We have to show today how malafide the petition (of US firm) is." "I will get it listed as early as possible," the CJI, who was indisposed and in quarantine for the last few days, said. Senior advocate Kapil Sibal, appearing for the US-based creditor, said it also wanted an early hearing. Earlier on August 22, the bench had refused to pass an interim order to ensure that the committee of creditors (CoC) does not hold any meeting in pursuance of the insolvency proceedings against the embattled ed-tech firm. It had listed the plea for a final hearing on August 27. The bench had said the developments, which may take place in the meantime, can be negated if it finds there was no merit in the appeal of the US-based creditor against the judgment of appellate insolvency tribunal NCLAT. The plea was mentioned earlier also on August 20 by Byju's and the BCCI and the top court had then also refused to pass an interim order to restrain the Insolvency Resolution Professional (IRP) from constituting a committee of creditors (CoC) in the insolvency proceedings against the ed-tech firm. In a major setback to Byju's, the top court had on August 14 stayed the verdict of NCLAT, setting aside the insolvency proceedings against the ed-tech major and approving its Rs 158.9 crore dues settlement with the Indian cricket board. The August 2 verdict of the NCLAT had come as a huge relief for Byju's as it had effectively put its founder Byju Raveendran back in control. The top court, however, had prima facie termed the NCLAT verdict as "unconscionable" and stayed its operation while issuing notices to Byju's and others on the appeal of the ed-tech firm's US-based creditor against the judgment of the insolvency appellate tribunal. The case stemmed from Byju's default on a Rs 158.9 crore payment related to a sponsorship deal with the BCCI. The top court had directed the BCCI to keep a sum of Rs 158 crore it had received from Byju's after a settlement in a separate escrow account till further orders. "Issue notice. Pending further orders there shall be a stay of the impugned order of August 2 of NCLAT. In the meantime, BCCI shall maintain the amount of Rs 158 crore, which shall be realised in pursuance of a settlement, in a separate escrow account until further orders," the bench had said. The NCLAT had approved the Rs 158.9 crore dues settlement with the BCCI and set aside the insolvency proceedings against Byju's. Byju's had entered into a "Team Sponsor Agreement" with the BCCI in 2019. Under the agreement, the ed-tech firm got exclusive rights to display its brand on the Indian cricket team's kit and some other benefits. Byju's had to pay a sponsorship fee. The company met its obligations till the middle of 2022 but defaulted on subsequent payments of Rs 158.9 crore. After insolvency proceedings were initiated, Byju's entered into a settlement with the BCCI. On July 16, the Bengaluru bench of the National Company Law Tribunal (NCLT) had admitted 'Think and Learn', Byju's parent company, to the insolvency resolution process on a plea filed by the BCCI over default in payment of outstanding dues of almost Rs 158.9 crore. While suspending the board of the ed-tech firm, the NCLT had appointed an interim resolution professional to run the operations of the company, suspended the company's board of directors, and brought it under moratorium by freezing its assets. The US-based lenders suspected that the settlement amount was being diverted from the credit they had extended to Byju's. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/india-beats-the-us-to-emerge-as-the-second-biggest-market-for-5g-smartphones/articleshow/113095322.cms">India beats the US to emerge as the second-biggest market for 5G smartphones</a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-iphone-16-to-launch-on-september-9-design-specs-and-everything-we-know-so-far/articleshow/113091114.cms">Apple iPhone 16 to launch on September 9 – design, specs and everything we know so far</a> <a href="https://www.businessinsider.in/stock-market/webstories/shree-tirupati-balajee-agro-trading-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113082663.cms">Shree Tirupati Balajee Agro Trading IPO – Price band to risk factors, all you need to know</a>

Supreme Court agrees to list plea related to insolvency proceedings against ed-tech firm Byju's

In an abrupt move, <keyword id="237838" type="General" weightage="20" keywordseo="arjun-mohan" source="Orion">Arjun Mohan</keyword>, who was elevated as the embattled edtech firm Byju <keyword id="5645" type="General" weightage="20" keywordseo="ceo" source="Orion">CEO</keyword> just about seven months back, has quit to pursue other opportunities, the company confirmed on Monday. The company's Co-founder and CEO <keyword id="1702989" type="General" weightage="20" keywordseo="byju-raveendran" source="Orion">Byju Raveendran</keyword> will take a more hands-on approach in spearheading the daily operations of the company after Mohan's resignation, who will be part of the edtech firm in an "external advisory role". The move is aimed at streamlining the operations and positioning the company for "long-term success". "Mohan has done an outstanding job steering Biju's through a challenging period. We are grateful for his leadership and look forward to his continued contributions as a strategic advisor," Raveendran said. The company has now decided to consolidate its business into three "focused" divisions -- The Learning App, Online Classes &amp; Tuition Centres, and Test-prep. Each of these <keyword id="54698" type="General" weightage="20" keywordseo="units" source="Orion">units</keyword> will have separate leaders who will independently run the businesses sustainably to ensure profitability, said the company. "This reorganisation marks the start of <keyword id="6384897" type="General" weightage="20" keywordseo="byjus" source="Orion">BYJU'S</keyword> 3.0 -- a leaner and more agile organisation ready to quickly adapt to evolving market dynamics, especially in the realm of hyper-personalised education," according to Raveendran. Facing a severe cash crunch, the edtech company in September last year elevated Mohan as the CEO of its India operations. Mohan succeeded Mrinal Mohit, founding partner and the outgoing head of India business at the company, who embarked on a new journey to pursue personal aspirations. "By focusing on our core strengths with three specialised business units, we will unlock new growth opportunities while continuing to focus on profitability," said Raveendran.

Byju's CEO Arjun Mohan quits, company to consolidate biz in 3 units

As the government begins to take steps to fix <keyword id="1464841" type="General" weightage="100" keywordseo="edtech" source="Orion">edtech</keyword> platforms like <keyword id="2900267" type="General" weightage="80" keywordseo="byju" source="Orion">BYJU</keyword>'s, several parents have shared their plight on social media and professional networking platforms as representatives from online education providers continue to force them to buy courses. The Ministry of Consumer Affairs recently pulled up edtech firms during a meeting with them and self-regulatory organisation India Edtech Consortium (<keyword id="306435" type="General" weightage="80" keywordseo="iec" source="Orion">IEC</keyword>) amid aggressive misselling of courses to parents. "Hey BYJU'S and <keyword id="8080458" type="General" weightage="50" keywordseo="whitehat-jr" source="Orion">WhiteHat Jr</keyword>... Trust me I am pushing my daughter to start learning coding, and do IIT JEE preparations with you guys, but she is just not willing to do so. Kids these days don't listen to their parents. She just wants to be an artist. So, please stop calling me to sell these plans/devices," Prashant <keyword id="445" type="General" weightage="50" keywordseo="sharma" source="Orion">Sharma</keyword>, who is into business development and a consultant with a penchant for storytelling, posted on LinkedIn. His post led to a barrage of similar situation being faced by parents all over the country, who are fed by constant aggressive selling of courses by the edtech representatives. <keyword id="14487485" type="General" weightage="50" keywordseo="srikant-ganesh" source="Orion">Srikant Ganesh</keyword>, Vice President at Dentsu Creative India, posted that he can totally relate to Sharma's experience. "My 9 year old son's into chess, plays the keyboard and is into speed-cubing and has no inclination towards computers / coding as such. I believe BYJU's and WhiteHat's of the world realise that there's more to kids these days than just learning to code and yes! They have a mind of their own and no one can push them into something they are not inclined towards. This false sense of FOMO being created by such brands should stop and so should the calls," Ganesh lamented. After the Centre took serious note of mis-selling of courses to parents by edtech firms, self-regulatory organisation IEC said it is committed to protecting consumer interest and has resolved 100 per cent complaints received till June. However, fresh complaints surfaced on social media platforms this month, indicating that the problem has not been addressed in totality. "This happened to me. The sales representatives of #Byju's need to be trained to handle a 'No'. I have personally experienced this when a representative called my wife and she said that we don't want to enroll. He kept calling and then I had to intervene. He kept insisting that your child had been registered on their site, so how could we say No! He didn't seem to understand and finally I had to explain to him by activating my desi side. I registered my complaint on their site but it was removed the next day," posted Dheeraj Grover, Senior Manager, HR, at VVDN Technologies. Thangarathnavel M., Head of Business Development-South Asia at German company Covestro, said on LinkedIn that he could fully relate to it too. "I had enrolled my son 2 years back but it was not much of any use. Few months back I started receiving calls from them again to enrol my son for the physical classes. But even after saying no, the calls never stopped. Once I gave a piece of my mind to one of the callers and asked him to share the mobile number of Mr. BYJU. Now the calls have stopped coming. Hope they stop this forever," he described his plight. Earlier this month, the Centre warned edtech companies against unfair trade practices. In a meeting with the IEC, Consumer Affairs Secretary, Rohit <keyword id="255172" type="General" weightage="50" keywordseo="kumar-singh" source="Orion">Kumar Singh</keyword>, said that if self-regulation does not curb unfair trade practices, then stringent guidelines would be formulated for ensuring transparency. The meeting was attended by representatives of the IAMAI, along with IEC member companies including upGrad, BYJU'S, Unacademy, Vedantu, Great Learning, WhiteHat Jr, and Sunstone. During the meeting, issues pertaining to unfair trade practices and misleading advertisements for the Indian edtech sector figured prominently. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/article/opinion-green-financing-in-india-need-significance-urgency-and-way-forward/articleshow/92948265.cms">OPINION: Green financing in India — Need, significance, urgency, and way forward</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/top-10-airlines-in-the-world/slidelist/92950615.cms">Top 10 Airlines in the world in 2022: Stats and performance explained</a>

My child likes chess not coding, parents fume at edtech marketers on social media

<ul><li>On the occasion of <keyword id="6481694" type="General" weightage="20" keywordseo="gandhi-jayanti" source="Orion">Gandhi Jayanti</keyword>, Indian brands try to reflect on Gandhiji’s values of self-discipline, perseverance and self-sufficiency and pay a tribute to the father of our nation.</li><li>This year, Edtech giant <keyword id="2900267" type="General" weightage="100" keywordseo="byju" source="Orion">BYJU</keyword>’s campaign applauds four individuals who have personified Gandhi’s ideals and brought about a change in society.</li><li>Recently appointed <keyword id="309498" type="General" weightage="20" keywordseo="vineet-singh" source="Orion">Vineet Singh</keyword>, Vice President, Brand &amp; Creative StrategyThink &amp; Learn Pvt. Ltd. (BYJU'S) takes us behind the scenes and walks us through the conceptualisation and execution process of the campaign.</li></ul>It is no secret that COVID-19 has had a severe impact on our collective mental health. We are feeling alone, overwhelmed with the spike in cases, and have been living with the constant fear that someone close to us or someone we know might succumb to the virus, for the past 1.5 years. With each passing day, it gets a little difficult to hold onto hope for a better tomorrow. If the father of the nation, Mahatma Gandhi were alive today, when we are faced with multi-layered crises such as global pandemic, climate crisis, economic recession, to name a few, he would have encouraged Indian citizens to manifest values of self-discipline, perseverance, and self-sufficiency. He would have walked with our urban migrants back to their homes, reminded us to stay united from a distance, used his mighty pen to send the message of resilience, thank doctors and environmental activists for their phenomenal work and lead the country towards the path of empathy and togetherness. On the occasion of <keyword id="791333" type="General" weightage="20" keywordseo="Mahatma-Gandhi-Jayanti" source="Orion">Mahatma Gandhi Jayanti</keyword>, EdTech Giant BYJU’s wanted to remind us that while the leader might not be with us today, he has taught us some invaluable lessons. Acted and voiced-over by the veteran actor Padma Shri Manoj Kumar, BYJU’S film applauds four individuals from different walks of life who have personified Gandhi’s ideals and brought about a change in society. The campaign celebrates Jamuna Tuddu, a Padma Shri awardee who has over the years fought the jungle mafia and given a lease of life to 100+ acre of forests; Sapan Patralekh, headmaster of a school in Jharkhand, who ensured that the learning journey for tribal kids did not suffer due to the closure of class rooms post the pandemic. He transformed village walls into colorful open classrooms; Dr Ganesh Rakh, who delivers girl child for free in his hospital; Kameshwar Wagmare, a 14-year-old kid who saved 2 of 3 kids from drowning. He received the Pradhan Mantri, Rashtriya Bal Puraskar 2021 for the courageous act. <div type="Youtube" id="gTAd5kwP8ok" title="Bapu Ki Aawaz (Celebrating The Mahatma) | (Ft. Padma Shri Manoj Kumar)" thumbUrl="https://i.ytimg.com/vi/gTAd5kwP8ok/mqdefault.jpg"></div> Vineet Singh, Vice President, Brand &amp; Creative StrategyThink &amp; Learn Pvt. Ltd. (BYJU'S) took us behind the scenes and walked us through the conceptualisation and execution process of the campaign. He shared, “The thought came from the fact that we really wanted to celebrate Baapu and we wanted to celebrate him with real life stories and how, while the whole world is talking about how humanity is dead, and people are not selfless anymore, we wanted to actually go out and celebrate that Baapu's belief of selflessness is still alive.” In a country of 138 crore people that is home to a lot of different cultures and traditions, and almost all of these cultures believe in celebrating empathy and selflessness, it was challenging for BYJU’s to find just four people who truly embody Gandhiji’s values. Telling us how the in-house team finalised their campaign’s protagonists, Singh said, “We wanted to cover a few facets that currently are troubling us across the country. Look at how the environment is suffering -- it's a conversation that everyone's having across the globe. Padmashree Jamuna Tuddu was an example who exists in our society and has worked towards saving 100 plus acres of forest in her region, but her message travels across the country. Then, we wanted to honor people who are doing something for the girl child. As a country, we are developing and we are getting to a place where men and women are getting equal as the day progresses, but little efforts like what Dr. Ganesh Rakh has done, is making that dream come true. After the pandemic, all schools were shut down in cities, and imagine what happened in remote Tribal Areas. So, we wanted to cover how people went out of their way there to bring alive education and Dr. Sapan was a great story. And finally, just an act of selflessness and bravery -- a 14-year -old kid jumping into the water because he saw two other young boys drowning. So, the reason why we chose these 4 people was because their stories were extremely fascinating, had a huge amount of thought and selflessness associated with it.” Singh recently joined BYJU’s from <keyword id="4052133" type="General" weightage="20" keywordseo="wework-india" source="Orion">WeWork India</keyword>. In his new role, he is hoping to help BYJU’s become the most loved edtech brand in India. His latest campaign with his team is just a part of many campaigns that would aim to position BYJU’s India’s most loved brand. Sharing his larger vision for the brand, he said, “The objective is to become one of the most loved brands in the country. And that's going to be the objective for this fiscal year, or the next fiscal year or any other fiscal year that we talk about until we get there.” CREDITS: Featured Stories: Dr. Sapan Kumar Patralekh, Dr. Ganesh Rakh, Padma Shri Jamuna Tudu and Kameshwar Waghmare Actor: Padma Shri Manoj Kumar Child Actor: Aashna Vaishnav &amp; Vidhaan Sharma Concept: Hitesh Bhagia (Sr. Director – Brand &amp; Creative Strategy, BYJU’S) Production: Hitesh Theodore Pereira (Principal Director - Media, BYJU’S) Directed By: Sonal Batra Production House: Dora Digs Produced By: Akshay Shah Team Dora Digs: Muskan Singhal, Vikas Malhotra, Suraj Shinde, Prathamesh Kamble, Vipul Mehta, Tushar Haware, Jitendra Kumar, Rohit Tiwari, Dinesh Malvi DOP: Jay Charola Editor: Falgun Busa Screenplay: Geet Sagar Music Director: Anand Bajpai Associate Producer: Sebastian Francis Line Producer: Dilip Sahoo &amp; Team Chief AD: Ayan Poddar &amp; Ardra Swaroop DI: Yash Soni

BYJU’s latest advertisement for Gandhi Jayanti aims to spread positivity and celebrate Indians who embody Gandhiji’s values

<ul><li><keyword id="2900267" type="PERSON" weightage="20" keywordseo="Byju">Byju</keyword>'s plans to invest $1 billion in the North American market over the next two years.</li><li>The company believes that that international market would make a third of its revenue in the future.</li><li>The Bengaluru-based company is estimated to earn $300 million from the US market in FY22.</li></ul> Byju's has had global aspirations since 2019, when it acquired US-based educational game system Osmo for $120 million. The pandemic and the resultant boost for online education platforms in 2020 have led to aggressive expansion by the Indian decacorn (startup valued at over $10 billion) this year. “India can provide teachers to the world, just like software engineers,” founder Byju Raveendran said in an interview with Business Insider in October 2020. <div type="Youtube" id="qIe5VhDvJXU" title="How EdTech Can Shape The Future Hereon?" thumbUrl="https://i.ytimg.com/vi/qIe5VhDvJXU/mqdefault.jpg"></div> Byju’s has already laid out an elaborate plan for the estimated <a href="https://www.austrade.gov.au/ArticleDocuments/5085/Edtech-US-market-snapshot.pdf.aspx/">$43 billion</a>+ edtech market in the US dominated by Age of Learning (valued at $3 billion) and Kajabi (valued at $2 billion) in the kindergarten to class 12 (K12) segment Byju’s is looking at. Two acquisitions in the last one month ⁠— Epic and Great Learning ⁠— have cost Byju's over $1.1 billion, and it plans to invest over a billion dollars in the North American market over the next two years. Besides that, the Indian startup has launched its core Disney-based learning app in the US and launched Byju's Global School for vocational learning. Industry watchers believe there may be more deals and acquisitions along the way. Investment bank Dexter Capital’s founder Devendra Agrawal, in an interaction with Business Insider, said that there is a lot of headroom for edtech to grow globally and there are few with the kind of muscle that Byju's ⁠— with a valuation of $16.5 billion ⁠— has. More importantly, Byju's can make more revenue ($376 million in FY20) in countries like the US, UK and Australia, where people can afford to pay more. Anita Kishore, the head of strategy at Byju's, told Business Insider that international markets would make a third of the company’s revenue in the next three to four years. The USA would be dominating the international market for Byju's. <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[ ]]></cdata></div> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Metric </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Base </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">July 2021 </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Growth </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Valuation </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">$6 billion (2019) </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">$16.5 billion </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2.7X </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Users </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">50 million (May 2020) </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;background-color:#ffffff;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">100 million </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2X </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscribers </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">3.5 million (May 2020) </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6.5 million </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1.8X </td></tr></tbody></table> With steady business growth prediction in India, why do Byju's want to look at the American market? The company started its expansion plans in 2019 by acquiring Osmo, which produces augmented reality games for mobile devices. <div type="ExtQuote" text="“We are building a product for the international markets. At present, our focus is getting the K-3 (lower grades first, then second and third grades) product ready for launch in the next few months.”" auname="— Mrinal Mohit, chief operating officer at Byju&amp;#39;s, said in 2019 while announcing the acquisition."></div> <div type="image" title="Image 1 Byju&amp;#39;s last two acquisitions and a deal with Disney reveal its American dream ⁠— one that is anchored in India" msid="84784080" hostid="261"></div> The company made its second acquisition in the US last week. It acquired digital reading platform Epic for half a billion dollars. The buyout provided Byju's with access to the company’s user base of 50 million students and 20 million teachers in one hit. Byju's also leveraged its<a href="https://www.businessinsider.in/business/startups/news/how-karan-bajaj-sold-his-less-than-18-month-old-startup-white-hat-jr-to-byjus/articleshow/77415329.cms"> $300 million acquisition</a> of the coding-for-kids startup WhiteHat Jr by launching the <keyword id="7677076" type="UNKNOWN" weightage="20" keywordseo="Future-school">Future School</keyword> brand that will focus on providing extra-curricular courses in international markets. The company has already launched its services in the US, Canada, Australia, New Zealand and other English speaking markets last month. It has also been piloting in non-English speaking countries like Brazil and Mexico, and will plan a full-roll out soon. <div type="ExtQuote" text="“The other advantage that [the] US market gives us is the fact that it is English speaking, right? A lot of our products, while you know, they need to be customised, and so on. Given the language is English, we are able to actually scale those products well, with teams in India. Hence, the US has been a key market for us.”" auname="— Anita Kishore, head of strategy at Byju&amp;#39;s, told Business Insider"></div> The 10-year-old startup expects to earn $300 million in the US in the financial year ending March 2022, all thanks to these three products. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Projected revenue in FY22 </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Byju's Future School </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">$100 million+ </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Epic </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">$100 million+ </td></tr><tr><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Osmo </td><td style="border-left:solid #cccccc 0.8333325pt;border-right:solid #cccccc 0.8333325pt;border-bottom:solid #cccccc 0.8333325pt;border-top:solid #cccccc 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">$100 million+ </td></tr></tbody></table> Notably, the company has made four acquisitions, amounting to $2 billion, in the last six months. Two of which — Great Learning and Epic — directly related to the company's international expansion plans. Kishore emphasised that Byju's does not have any target number for acquisition or investments to expand its presence in the US. “It is more where we see a strategic fit and an alignment of vision with the founders. That’s where we go ahead and do that [acquisition].” <div type="image" title="Byju&amp;#39;s last two acquisitions and a deal with Disney reveal its American dream ⁠— one that is anchored in India" msid="84783979" hostid="261"></div> “ India will continue to be Byju's biggest market in terms of revenue for the next two years. However, they would want this ratio to change going forward. How soon it could change is hard to comment. The outside market, like the US, the growth could be higher. Two-three years later, the percentage revenue they get from the US market could be sizeable. It would not be more than 50% or more than Indian market. In the long term, it may happen that Byju's is getting more revenue from outside India.” -- Devendra Agrawal, founder, Dexter Capital A dream so big, it may need bigger deals Acquisitions are usually done for three reasons. First, to enter new geographies. Second, to incorporate new services or products into business offerings. Third, to eliminate a disruptor that could be a potential threat to the company in the long run. “Because of all three reasons, Byju's will continue to acquire new players…,” Agrawal told Business Insider. The organic way of doing so, by building a team and hiring people, may actually take a couple of years. The inorganic way, by acquiring companies, can help speed up the process of scaling up. Madhur Singhal, managing partner and chief executive officer (CEO) at consulting firm Praxis Global, explained that the company’s expansion largely depends on how well the company develops an empirically grounded model of technology and capability that taps the market opportunity with cross-selling into customers of acquisitions they are making. “If this strategy comes right, it could result in bigger and faster outcomes,” he added. While the global market will make up a third of Byju's revenue, India will continue to be the biggest market for the edtech company due to the massive growth of its core product in two to three years, Kishore emphasised. The recent acquisition of the test preparation chain Aakash Educational Services, which has over 200 coaching centres across India, is going to accelerate the company’s growth in India as well. Byju's had acquired Aakash for $1 billion earlier this year and it was the biggest edtech deal in the world. <div type="image" title="(image 3) Byju&amp;#39;s last two acquisitions and a deal with Disney reveal its American dream ⁠— one that is anchored in India" msid="84784062" hostid="261"></div> Even though Aakash may not contribute much to Byju's international plans, the acquisition will give the company a sizable revenue as well as profit. “If somebody has to distribute Byju's revenue — organic revenue versus revenue of acquired companies — Aakash would give them largest leverage purely from the EBITDA [earnings with interest, taxes, depreciation, and amortisation] and revenue perspective,” Dexter Capital’s Agarwal added. SEE ALSO <a href="https://www.businessinsider.in/business/corporates/news/lok-sabha-mp-mahua-moitra-says-delisting-of-adani-power-need-to-be-looked-into/articleshow/84752594.cms">Adani Group in spotlight again — Lok Sabha MP Mahua Moitra says delisting of Adani Power needs to be ‘looked into’</a> <a href="https://www.businessinsider.in/thelife/news/tesla-shrugs-off-the-global-chip-shortage-to-post-its-most-profitable-quarter-yet/articleshow/84777571.cms">Tesla shrugs off the global chip shortage to post its most profitable quarter yet</a> <a href="https://www.businessinsider.in/personal-finance/news/six-red-flags-for-investors-to-avoid-becoming-a-victim-of-misselling-by-agents-or-financial-advisors/slidelist/84782913.cms">Six red flags for investors to avoid becoming a victim of misselling by agents or financial advisors</a>

Byju's last two acquisitions and a deal with Disney reveal its American dream ⁠— one that is anchored in India

<keyword id="1464841" type="General" weightage="20" keywordseo="Edtech" source="Orion">Edtech</keyword> firm <keyword id="6384897" type="General" weightage="20" keywordseo="BYJUs" source="Orion">BYJU's</keyword> will not be able to meet its March 2023 deadline to achieve group-level <keyword id="6515078" type="General" weightage="20" keywordseo="profitability" source="Orion">profitability</keyword>, as it envisioned in its earnings in October last year, reliable sources said on Monday. On top of it, its results for most of the months for the current fiscal year are delayed again. Sources told IANS that the company, which has sacked thousands of employees to date and has taken deeper cuts, is still unable to achieve profitability at group level amid mounting losses. In October after firing 2,500 employees and consolidating its business in the country, Mrinal Mohit, CEO, BYJU'S India business, had said that "these measures will help us achieve profitability in the defined time frame of March 2023". At a group level, BYJU's had said its top priority is to achieve "overall profitability by March 2023". However, this appears impossible now with the company still struggling to stem growing losses. Last week, the edtech major laid off another 15 per cent of its employees, or more than 1,000 people, mainly from its engineering teams, as the company continues phased layoffs to remain growth-oriented in a global economic meltdown. Between April-July 2022, the company logged a revenue of Rs 4,530 crore. Post that, there has been no communication from the company about the pending results. The edtech unicorn reported a loss of Rs 4,588 crore for the fiscal year that ended on March 31, 2021. BYJU's had claimed it clocked gross revenues of nearly Rs 10,000 crore in FY22. Meanwhile, according to sources, BYJU's acquisition of Delhi-based offline test preparatory services provider Aakash for nearly $1 billion is still incomplete and Aakash Chaudhry, Co-Promoter and Managing Director of Aakash Educational Services Limited (AESL), has resigned from the board. When reached, Aakash declined to comment. New reports emerged in December that BYJU's, which may have seen a definite erosion in its last market value at $22 billion, hasn't paid several of its vendors for months. According to Morning Context, "some of the payments are due since March and there is trouble with their clearance. In the eight months to October 2022, cumulative dues to vendors have crossed Rs 90 crore". When reached, BYJU's had not offered a comment on this report. In seemingly fresh trouble for BYJU's, some lenders had asked the edtech unicorn to repay part of a $1.2 billion <keyword id="6360217" type="General" weightage="20" keywordseo="loan" source="Orion">loan</keyword> they recently bought into as they renegotiate terms of the debt. The demand from <keyword id="88431" type="General" weightage="20" keywordseo="creditors" source="Orion">creditors</keyword> comes at a time when BYJU's was in the process to restructure the loan. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/bike-bazaar-raises-10-million-in-series-d-funding-round-from-german-investment-firm-deg/articleshow/97647515.cms">Bike Bazaar raises $10 million in series D funding round from German investment firm DEG</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-transmission-reports-78-rise-in-q3-net-profit-to-475-crore-on-one-time-income/articleshow/97650165.cms">Adani Transmission reports 78% rise in Q3 net profit to ₹475 crore on one-time income</a>

BYJU's to miss March 2023 deadline for group level profitability, results delayed again

In some cheer for those who have lost jobs in the ongoing funding winter and global macro-economic conditions, most laid-off tech employees have landed new jobs within three months of starting their search. The <keyword id="6384660" type="General" weightage="50" keywordseo="wall-street-journal" source="Orion">Wall Street Journal</keyword> reported, citing a <keyword id="3345871" type="General" weightage="100" keywordseo="ziprecruiter" source="Orion">ZipRecruiter</keyword> survey, that nearly 79 per cent of terminated staff in the tech industry landed a new job within three months. It, whoever, did not divulge information on whether they got new jobs on the same, above or lower pay packages as the industry is reeling under several pessimistic factors, which will continue in 2023. Nearly four in 10 previously laid-off tech workers found jobs less than a month after they began searching, the survey found. "Despite the widespread layoffs, hiring freezes, and cost-cutting taking place in tech, many tech workers are finding reemployment remarkably quickly," <keyword id="12666243" type="General" weightage="50" keywordseo="julia-pollak" source="Orion">Julia Pollak</keyword>, chief economist at ZipRecruiter, was quoted as saying. Workers employed in other industries, like entertainment and leisure, transportation and delivery and manufacturing, also found new jobs quickly, the data showed. Google, Amazon and some other tech companies are set to lay off more workers in early 2023. The ZipRecruiter data also showed that about 5 per cent of laid-off tech workers who found jobs from April to October had spent more than six months hunting for work, down from 26 per cent of those hired between August 2021 and February 2022. Thousands lost jobs amid deepening funding winter in 2022 as massive layoffs by the tech companies this year alone surpassed the levels from the Great Recession the world went through in 2008-2009 that began with the <keyword id="50209" type="General" weightage="50" keywordseo="lehman-brothers" source="Orion">Lehman Brothers</keyword> collapse. More than 91,000 workers in the US tech sector were laid off in mass job cuts in 2022, according to a Crunchbase tally. Over 17,000 tech employees were shown the door in India, led by ed-tech companies like BYJU's, Unacademy, Vedantu and others. The startup ecosystem's funding winter could last another 12 to 18 months. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/kfin-technologies-lists-at-nearly-1-premium-on-bourses-despite-weak-market-sentiment/articleshow/96586058.cms">KFin Technologies lists at nearly 1% premium on bourses despite weak market sentiment</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/amazon-starts-delivering-orders-by-drones-in-us-states/articleshow/96586213.cms">Amazon starts delivering orders by drones in US states</a>

Most laid-off tech employees have landed new jobs in 3 months: ZipRecruiter survey

<keyword id="3368988" type="General" weightage="80" keywordseo="itw" source="Orion">ITW</keyword> Sports Inc, a US-based sports consulting firm focused on delivering end-to-end growth strategies for brands through the impactful platforms of sport and live entertainment, and a subsidiary of ITW Universe, was today named the official Global Activation Partner by Ed-tech giant BYJU'S for the <keyword id="149598" type="General" weightage="50" keywordseo="icc-cricket-world-cup" source="Orion">ICC Cricket World Cup</keyword> and FIFA Football <keyword id="22177" type="General" weightage="80" keywordseo="world-cup" source="Orion">World Cup</keyword>. The announcement comes on the back of major sponsorships deals that the Bangalore-based company has signed in the recent past, including coming on board as the official sponsor of the Qatar FIFA World Cup 2022 to be held in Qatar as well as a three-year agreement between BYJU'S and the ICC which will see BYJU'S partner all ICC events till the end of 2023, including the ongoing ICC Men's T20 World Cup in Australia. ITW was instrumental in stitching together the deals with the BCCI and the ICC for BYJU'S, consulting the brand on the landmark partnerships. "ITW and BYJU'S share a long-standing relationship and we are proud of the work we have done to find the right platforms in international cricket and football for BYJU'S to achieve the global brand objectives," said Nikhil <keyword id="30343" type="General" weightage="50" keywordseo="vyas" source="Orion">Vyas</keyword>, Founding Partner, ITW Universe &amp; CEO ITW Sports Inc. USA, an agency that will focus on the top 5 sports in the United States while also consulting emerging brands with global expansion ambitions. Additionally, the agency will be committed to backing cricket in the United States, aiming to build sustainable commercial interest in the game's next market frontier. "Our expertise in sports as well as our intrinsic knowledge of our brands and the sports environment is key to our successes. We are excited about the activation around two of the world's most viewed events and confident of delivering successful campaigns for BYJU'S," added Mr Vyas. ITW's India office will be servicing the ICC T20 World Cup activation while ITW's USA office will service the FIFA World Cup activation campaign. As a global partner, BYJU'S will have extensive in-venue assets, broadcast, and digital rights across all ICC events and similar rights for the FIFA World Cup which will be viewed by a projected audience of 5 billion people across the world. Through its partnership, BYJU'S will be leveraging those rights to run unique promotions and activations to connect with passionate football and cricket fans worldwide. "Our sponsorship deals in International Cricket and Football have given us great visibility and have helped position BYJU'S become a household name in India. We plan to scale it up and reach the world's largest sports fan base with the Qatar FIFA World Cup. ITW Sports has been our sponsorship agency partner since the start of the brand journey and has helped facilitate and execute most of our sports partnerships, we are confident that they will continue to deliver the ambitious brand objectives set out for the upcoming cricket and football world cups," Atit Mehta, Head of Marketing, BYJU'S. The T20 World Cup which began on October 22 in Australia is currently underway, while the FIFA World Cup kicks off in November and it is the first time that an Indian Brand is associated with the event in the capacity of an Official Sponsor. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/are-millennials-and-gen-z-influencing-future-trends-of-indian-hospitality/articleshow/95277333.cms">Are millennials and Gen Z influencing future trends of Indian Hospitality?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/hdfc-reports-18-year-on-year-rise-in-q2-net-profit-to-4454-crore/articleshow/95279744.cms">HDFC reports 18% year-on-year rise in Q2 net profit to ₹4,454 crore</a>

BYJU'S appoints ITW Sports Inc USA as its Global Activation Partner for the ICC Cricket and Qatar FIFA Football World Cup 2022

Edtech major BYJU'S on Wednesday announced several measures to bolster its <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> business, saying that its K-10 business, which includes Toppr, <keyword id="1573710" type="General" weightage="50" keywordseo="meritnation" source="Orion">Meritnation</keyword>, <keyword id="192259" type="General" weightage="50" keywordseo="tutorvista" source="Orion">TutorVista</keyword>, <keyword id="14957" type="General" weightage="50" keywordseo="scholar" source="Orion">Scholar</keyword>, and HashLearn platforms, will now be consolidated as one business unit. To avoid redundancies and duplication of roles, the move will result in five per cent of its 50,000-strong workforce (about 2,500 people) being "rationalised across product, content, media, and technology teams in a phased manner", the company said in a statement. Aakash Educational Services and Great Learning will continue to function as separate organisations, the company said in a statement. "As a mature organisation that takes its responsibility towards investors and stakeholders seriously, we aim to ensure sustainable growth alongside strong revenue growth. These measures will help us achieve profitability in the defined time frame of March 2023," said Mrinal Mohit, CEO, BYJU'S India business. At a group level, BYJU'S said its top priority is to achieve "overall profitability by March 2023". Over the last three years, BYJU'S acquired multiple companies whose integration with its core business is now complete. BYJU'S said at the group level, it will continue to hire across all levels and will end this financial year as a net hirer. The company plans to hire a total of 10,000 more teachers in the coming year, adding to its current strength of 20,000 teachers. It said it is expanding its teams along with hiring senior leadership to further build operational strength. The company said there will also be re-targeting of the marketing budget towards more efficient growth. "Since significant brand awareness has been created in India over the past few years, there is a scope to optimise marketing budgets locally and prioritise spending to increase brand awareness in overseas markets," the company said. BYJU'S said it is also reinventing its sales model to focus more on inside sales, using video calling platforms which in turn will enhance customer experience and reduce operational costs. Multiple inside sales hubs will now be created across India from where BYJU'S sales associates will reach out to incoming leads through calls, email, and <keyword id="10296" type="General" weightage="50" keywordseo="zoom" source="Orion">Zoom</keyword> meetings. Inside sales will lead to higher customer satisfaction and lower costs. "None of these measures will have any impact on our revenue run rate," said Mohit. After six stressful and tough months, the company's Co-founder Byju Raveendran recently said that "the worst is finally over" and there is only "growth ahead" as seen in the company's FY22 financial results, where it logged Rs 10,000 crore in gross revenues. BYJU's last month paid the remaining dues of nearly Rs 1,983 crore (over $245 million) to global VC firm Blackstone in the $1 billion acquisition of Aakash. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/hcl-techs-net-profit-rises-6-3-sequentially-increases-fy23-revenue-guidance/articleshow/94813269.cms">HCL Tech’s net profit rises 6.3% sequentially, increases FY23 revenue guidance</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/intel-plans-major-layoffs-this-month-as-pc-sales-nosedive-report/articleshow/94813156.cms">Intel plans major layoffs this month as PC sales nosedive: Report</a>

You Searched For "byju s marketing" and got 9 results

Supreme Court agrees to list plea related to insolvency proceedings against ed-tech firm Byju's

PTI

Byju's CEO Arjun Mohan quits, company to consolidate biz in 3 units

IANS

My child likes chess not coding, parents fume at edtech marketers on social media

IANS

BYJU’s latest advertisement for Gandhi Jayanti aims to spread positivity and celebrate Indians who embody Gandhiji’s values

Karuna Sharma

Byju's last two acquisitions and a deal with Disney reveal its American dream ⁠— one that is anchored in India

Kritti Bhalla

BYJU's to miss March 2023 deadline for group level profitability, results delayed again

IANS

Most laid-off tech employees have landed new jobs in 3 months: ZipRecruiter survey

IANS

BYJU'S appoints ITW Sports Inc USA as its Global Activation Partner for the ICC Cricket and Qatar FIFA Football World Cup 2022

ANI

BYJU's consolidates India business, 5% workforce to be 'rationalised' across teams

IANS

Popular Keywords

Buying Guides