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<keyword id="1464841" type="General" weightage="50" keywordseo="edtech" source="Orion">Edtech</keyword> giant <keyword id="2900267" type="General" weightage="80" keywordseo="byju" source="Orion">BYJU</keyword>'s on Wednesday said that the $1 billion acquisition process of <keyword id="3406091" type="General" weightage="50" keywordseo="aakash-educational-services" source="Orion">Aakash Educational Services</keyword> is on track and is expected to be completed by August. BYJU's acquired Delhi-based offline test preparatory services provider <keyword id="6380190" type="General" weightage="100" keywordseo="aakash" source="Orion">Aakash</keyword> for $1 billion last year. The company was reacting to reports that Blackstone and other shareholders of Aakash are yet to be paid in both cash and stock as it has deferred the payment. A company spokesperson told IANS that the acquisition of "Aakash is fully on track and all payments are expected to be completed by the agreed upon date, i.e., August 2022". "Aakash is our most successful acquisition till date and we are very proud to have them in our fold," the company spokesperson added. "Along with all our group companies, we continue to be perfectly poised to provide access to quality education in all learning segments from early learning to exam prep and career success, the spokesperson said. Aakash Educational Services provides test preparation services for medical and engineering entrance exams, school/board exams, and other exams via Aakash Centres. The edtech unicorn made at least 10 acquisitions for a cumulative transaction value of about $2.5 billion last year. The latest development at BYJU's comes as the Indian edtech market is shrinking with reopening of schools, colleges and physical tuition centres. Led by the edtech platforms like Unacademy, <keyword id="8080458" type="General" weightage="50" keywordseo="whitehat-jr" source="Orion">WhiteHat Jr</keyword>, <keyword id="2016957" type="General" weightage="50" keywordseo="vedantu" source="Orion">Vedantu</keyword>, FrontRow, Udayy, Lido Learning and others, over 10,000 start-up employees have been laid off in the country. In April, Unacademy laid off nearly 600 employees, contractual workers and educators, about 10 per cent of its 6,000-strong workforce across the group. In June, Unacademy said that a small fraction of its workforce (2.6 per cent or nearly 150 employees) was asked to go as part of a performance improvement programme (PIP). ALSO SEE <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/razorpay-rejigs-top-leadership-team-after-cofounder-moves-out-of-cto-role/articleshow/92537894.cms">Razorpay rejigs top leadership team after cofounder moves out of CTO role</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/after-groceries-in-10-minutes-most-indians-want-their-shoes-delivered-in-2-hours/articleshow/92539964.cms">After groceries in 10 minutes, most Indians want their shoes delivered in 2 hours</a>

Byju's says Aakash acquisition on track after reports that it has failed to pay  up

Ed-tech platform <keyword id="2016957" type="COMPANY" weightage="20" keywordseo="Vedantu">Vedantu</keyword> on Tuesday said it aims to <keyword id="46280" type="PERSON" weightage="20" keywordseo="hire">hire</keyword> 2,500 employees in the next three months across the board, like product, technology, academics and business, to make deeper inroads into smaller towns and cities. Currently, the company employs 6,000 people and the strength will grow to 8,500 after the expansion. According to the company, the new hires will be at entry and <keyword id="4512110" type="PERSON" weightage="20" keywordseo="mid-level">mid-level</keyword> from <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword>'s premium B-schools and engineering institutes. "With the boom in online learning adoption, we aim to hire highly driven and inspired individuals who can become a part of the Vedantu mission. We are further expanding our presence in tier 2 and 3 markets," said Vamsi Krishna, CEO, and Co-Founder, Vedantu. The e-learning platform last month acquired Instasolv, a doubt-solving app for students from Class 6 to 12 for science, mathematics, IITJEE and NEET, for an undisclosed sum. According to the company, the acquisition will enhance its doubt-solving and reinforce presence in tier 2 and Tier 3 markets. This was Vedantu's first acquisition in an EdTech company to strengthen its focus in the instant doubt-solving space. Last year, Vedantu invested $2 million as part of a pre-series A funding in Instasolv. Vedantu has witnessed six to seven times growth with 75 million hours of classes delivered across its platform last year as millions stayed home. The number of students attending Live classes on the platform grew to 6.3 million across the K-12 category and competitive exams such as JEE and NEET, the company informed. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/craftsman-automation-has-fixed-a-price-band-of-14881490-a-share-for-its-150-crore-ipo/articleshow/81408729.cms">Auto components maker Craftsman Automation’s ₹150 crore IPO to hit the capital markets next week — price band fixed at ₹1,488–1,490</a> <a href="https://www.businessinsider.in/india/news/india-is-using-the-quad-alliance-to-get-help-from-the-us-japan-and-australia-to-match-chinas-covid-19-vaccine-push/articleshow/81408044.cms">India is asking the QUAD for money to boost vaccine production and counter China’s moves on the global stage</a> <a href="https://www.businessinsider.in/business/corporates/news/elon-musks-net-worth-has-eroded-60-billion-in-just-two-months-as-teslas-market-cap-falls-35/articleshow/81407453.cms">Elon Musk’s wealth has eroded $60 billion in just two months as Tesla's market cap falls 35%</a>

Vedantu plans to hire 2,500 people over the next three months as it take ed-tech to smaller towns

New Delhi, Feb 13 () Education technology start-up Vedantu on Thursday said it has raised Rs 171 crore (USD 24 million) in a round led by global venture capital firm GGV Capital with participation from existing investors. This was in addition to the Rs 299 crore raised by the firm in August 2019. "We are excited to have GGV Capital back us, as a unique VC firm that has backed some of the world's most successful companies, this is a huge validation for Vedantu. We want to further our mission to make this new format of live interactive classes the answer to the current engagement gaps in online education and are very excited about the future," Vedantu CEO and co-founder Vamsi Krishna said in a statement.With this round, total fund raised by the company stands at around Rs 600 crore. Krishna said that the company sees 4.5 times year on year growth in student enrolments and it is now gearing to invest in brand and entering very strongly in new categories of age group 4-10 years beyond current customer segments. "With over 1 million lifetime learners engaged on its online learning platform, Vedantu will explore opportunities to scale impact as it achieves four times growth this year," the statement said. "We are excited to partner with Vamsi and the Vedantu team and share GGV's global expertise and network to help them scale and shape learning outcomes for millions of students in India and beyond," GGV Capital Managing Partner Hans Tung said said. Tung is also joining Vedantu's board. PRS MRMR

Vedantu raises Rs 171 cr in round led by GGV Capital

<ul><li>With students moving to remote learning setup, edtech companies like Gradeup, Vedantu, Simplilearn, <keyword id="2008319" type="COMPANY" weightage="20" keywordseo="Upgrad">upGrad</keyword>, Unacademy, Masai School and others are hiring across roles including educators and product managers. </li><li>According to a <keyword id="769079" type="COMPANY" weightage="20" keywordseo="ManpowerGroup">ManpowerGroup</keyword> estimate, there are approximately 12,000 job vacancies for permanent roles across edtech companies in India, as of June. </li><li>Another 90,000 job openings are for contractual roles in the edtech sector. </li><li>Krishna Kumar, CEO and Founder of Simplilearn believes that the lockdown has been a ‘game-changer’ for the edtech sector as there has been a sudden surge in enrollments from students as well as working professionals.</li></ul>As schools and universities move to online modules for learning continuity, edtech has emerged as one of the top sectors that have been hiring aggressively despite the lockdown. With students moving to remote learning setup, these edtech companies like Gradeup, Vedantu, Simplilearn, upGrad, Unacademy, Masai School and others are hiring across roles including educators and product managers. Krishna Kumar, CEO and Founder of Simplilearn believes that the lockdown has been a ‘game-changer’ for the edtech sector as there has been a sudden surge in enrollments from students as well as working professionals. Over 1 lakh job opening in edtech companies for permanent and gig roles <a href="https://economictimes.indiatimes.com/jobs/situations-vacant-12000-jobs-on-offer-in-edtech/articleshow/76175565.cms">According to</a> a ManpowerGroup estimate, there are approximately 12,000 job vacancies across edtech companies in India, as of June. And that constitutes only the permanent job roles. Another 90,000 job openings are for contractual roles in the edtech sector. Simplilearn now has over 100 job openings for permanent roles and 500 vacancies for specialised or gig roles. “At Simplilearn, we witnessed a 30% jump in enrollments between March and April, 2020. While hiring was always part of the plan, the current phase has also triggered the need for more manpower to cater to this rising demand,” Kumar told Business Insider. However, as far as appraisals are concerned, Kumar said that the company is in a ‘wait and watch’ mode. “But all bonuses and variables are paid as per plan,” he added. Masai School is also planning to add nearly 20 people by the end of June. This includes Lead instructors, curriculum leads, technical mentors, marketing manager, admissions counselor and subject matter experts. “In addition to this, we have also rolled out appraisals to the existing team, for the year,” said Prateek Shukla, CEO &amp; Co-founder of Masai School. The demand for educators increase as the learner base grows Whitehat Jr, on the other hand, is doubling the number of employees and teachers to meet the 100% month-on-month increase in student enrollments. The company plans to hire 1,500 teachers and 400 other staff almost every month, CEO Karan Bajaj <a href="https://www.businessinsider.in/careers/news/jobs-at-whitehat-jr-edtech-startup-profile-experience-salary-and-other-details/articleshow/75687582.cms">said </a>in an earlier interview. Unacademy too, plans to onboard over 500 educators over the next one year while it is also focussing on recruiting across teams such as sales, operations, confirmed Tina Balachandran, VP, HR at Unacademy. The edtech companies attribute the rise in jobs to the increased demand for online learning. “Due to the increased demand for online learning, we are definitely ramping up our backend and technology and have plans to hire 1500 employees across all levels and with domain expertise in the field of technology, product, finance, strategy &amp; HR,” said Vamsi Krishna, CEO &amp; Co-founder of Vedantu. The platform says that its revenue grew by over 80% with the students spending an average of 18-20 minutes per live class daily. Gradeup also witnessed nearly 25% surge in daily enrollments, especially live classes for JEE &amp; NEET aspirants. “With Covid 19 and the lockdown due to increase in demand, our requirements in academic positions have specifically gone up. At the same time we are also scaling up on the sales team to cater to the demand of online classes which were provided by offline institutes in the past. For the next quarter, we will hire technology, product and sales professionals. We have been hiring 30-40 people for these categories since May,” Shobhit Bhatnagar, CEO and Founder of Gradeup told Business Insider. Meanwhile, <a href="https://www.businessinsider.in/education/news/media-mogul-turned-education-entrepreneur-ronnie-screwvala-says-coronavirus-might-have-usher-a-new-era-of-online-learning/articleshow/74550344.cms">upGrad</a> onboarded senior staff including CEO Arjun Mohan and VP Puneet Tanwar, amid the lockdown. “We have closed a couple more senior management positions too, on the product and business side and they will be joining us in the next 4-6 weeks. All our hiring procedures have been shifted to online with immediate effect, which includes video calling at the time of shortlisting the candidate, followed by another round of interview call with the HR and the respective team manager,” Mayank Kumar, Co-founder &amp; MD, upGrad said. The hiring and onboarding has also witnessed a shift. Companies are virtually onboarding employees via video conferencing tools — leveraging technology and digitisation. See also: <a href="https://www.businessinsider.in/careers/news/digital-skills-that-experts-believe-you-need-to-survive-the-current-job-crisis/articleshow/76167406.cms">Digital skills that experts believe you need to survive the current job crisis</a> <a href="https://www.businessinsider.in/education/news/indian-government-may-allow-schools-to-open-after-august-15/articleshow/76252838.cms">Indian government may allow schools to open after August 15</a> <a href="https://www.businessinsider.in/education/news/iit-bombay-kharagpur-roorkee-and-kanpur-students-will-not-have-to-sit-for-final-year-exams/articleshow/76167610.cms">IIT Bombay, Kharagpur, Roorkee and Kanpur students will not have to sit for final year exams</a>

You Searched For "learn on vedantu" and got 4 results

Byju's says Aakash acquisition on track after reports that it has failed to pay up

IANS

Vedantu plans to hire 2,500 people over the next three months as it take ed-tech to smaller towns

IANS

Vedantu raises Rs 171 cr in round led by GGV Capital

PTI

Edtech hirings at an all-time high — over 4,100 job openings in Unacademy, Vedantu, Simplilearn and more

Prerna Sindwani

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