The joint statement from the <keyword id="105472" type="General" weightage="90" keywordseo="us-treasury" source="Orion">US Treasury</keyword>, Federal Reserve and Federal Deposit Insurance Corporation (FDIC) stating that depositors will have access to all of their money starting Monday, March 13 in connection with the <keyword id="630197" type="General" weightage="90" keywordseo="silicon-valley-bank" source="Orion">Silicon Valley Bank</keyword> (<keyword id="675965" type="General" weightage="100" keywordseo="svb" source="Orion">SVB</keyword>) collapse has come as a relief to the startups who were exposed to the bank. Startups hope the crisis would now be resolved soon. "FDIC's communication yesterday saying all depositors will get access to their funds is a relief to the startup community," said Prabhu Ramachandran, CEO &amp; Co-founder at Facilio, a property operations software provider. Facilio has significant exposure, as a "major portion" of the company's funds is with SVB. "But we expect the crisis to be resolved this week and we should get access to our funds. We have money outside SVB to cover 4-5 months of our operations. This gives us more than sufficient time for the crisis to be resolved, and for us to access our funds at SVB," Ramachandran said He added "while most SaaS (Software as a <keyword id="6359391" type="General" weightage="50" keywordseo="service" source="Orion">Service</keyword>) startups had some kind of exposure, most of them had diversified their funds and operations did not get impacted as such. Also, we knew it was only a matter of days before this issue would get resolved." "We understood the way it snowballed and most of us didn't get carried away by the noise. We took stock of our financials outside SVB and believed this problem would get resolved in a few weeks. We kept our internal teams updated on the situation. SaaS is a close-knit community here and we are speaking to each other to ensure the confidence within the community is held up," Ramachandran added. However, the number of startups that are affected is "minuscule" say some. "In the Indian startup ecosystem, the number of companies that have US bank accounts is minuscule. It is a problem for US companies, for Indian companies, a very minuscule section of the Indian ecosystem has been affected by the Silicon Valley Bank collapse," said K Ganesh - Serial Entrepreneur, Promoter - Bigbasket, Portea Medical, Bluestone, HomeLane. "None of the startups mentioned in a section of the Indian media - BlueStone and <keyword id="192259" type="General" weightage="50" keywordseo="tutorvista" source="Orion">TutorVista</keyword> - have been impacted by the Silicon Valley Bank crisis. This is a pure case of wrong understanding and sensationalising," Ganesh said. He added SVB had invested in these companies and taken equity or shares from them. "The money came from SVB. Both BlueStone and TutorVista received money from SVB and gave them shares against that. Tutor Vista got the money 16 years back. BlueStone got the money 10 years back. That money has been consumed and utilised. Subsequently, the shares have been sold and SVB is no longer a shareholder in any of these companies. Therefore, what happens with SVB has no relevance to these companies. Whether it is <keyword id="13538736" type="DOMAIN" weightage="20" keywordseo="paytm" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="paytm" meta.entityname="One97 Communications Ltd." meta.entityid="2017785" meta.seoname="one97-communications-ltd">PayTM</keyword>, Bluestone or TutorVista," he said. Ganesh added, "if the same situation had happened 15 years ago, the news would not have spread so quickly. Now, the moment you get a whiff of a problem on social media or news reports, the internet and mobile banking help people move funds immediately. Something like 20 billion dollars was removed in a day. Mobile internet banking makes a 'run on the bank' possible. While not blaming SM or mobile internet banking, the lesson is that the banking regulators have to learn how to avoid similar situations repeating in the age of social media." Meanwhile, payment solutions and fintech companies are coming up with ways for affected startups to work around the issue. A Razorpay spokesperson said, "we have been working round the clock and have created a dedicated RazorpayX desk to help our fellow startups urgently move funds from their US banks to India. For all existing RazorpayX users, we are offering to move their money into their Indian current account as FDI through our partner banks. For anyone who is not a RazorpayX user, we are helping them move their money to a Nostro account through our partner banks." "We also understand that this event may cause a few companies to be unable to make payroll in the next 30 days. We are working on things internally to see how we can help resolve it. Our teams are working hard along with our banking partners to explore all possible solutions to reduce the panic amongst founders because we know if we don't come together and help them out now, these young disruptive startups may not see the light of day," he added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/billionaire-hedge-fund-manager-investor-bill-ackman-warns-more-banks-will-collapse/articleshow/98608905.cms">Billionaire hedge fund manager investor Bill Ackman warns more banks will collapse</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/very-seminal-issue-sc-refers-pleas-for-same-sex-marriage-to-a-constitutional-bench/articleshow/98609228.cms">'Very seminal issue', SC refers pleas for same-sex marriage to a constitutional bench</a>

Startups hoping for quick resolution of SVB crisis post FDIC intervention

<ul><li>BYJU's is an <keyword id="1464841" type="General" weightage="20" keywordseo="edtech" source="Orion">edtech</keyword> platform founded in 2015 with a current valuation of $22 billion. </li><li>Management of the edtech platform says cost-cutting is being done to “achieve overall profitability by March 2023”. </li><li>Many edtech firms have resorted to layoffs this year. </li></ul>Indian edtech decacorn BYJU's announced yesterday that it has laid off 2,500 employees as it has consolidated the many platforms it has acquired – like Toppr, Meritnation, <keyword id="192259" type="General" weightage="50" keywordseo="tutorvista" source="Orion">TutorVista</keyword>, Scholar and HashLearn. This move, the company said, is a way to avoid redundancies in job roles and the layoffs constitute 5% of its workforce. “These measures will help us achieve profitability in the defined time frame of March 2023," said Mrinal Mohit, CEO, BYJU'S India business. As per the audited FY21 financials that it released last month after an 18-month delay, its losses widened by 20 times to ₹4,589 crore. In the last three years, the company has been on an acquisition spree. Its biggest one so far is that of offline test preparatory services provider Aakash for $1 billion in 2021. The payments to PE major Blackstone, which owned 38% in Aakash, were eventually <a href="https://www.thehindu.com/business/byjus-clears-230-million-dues-to-blackstone-for-aakash-acquisition/article65931486.ece">cleared by the company, albeit after delays</a>. It has also purchased Singapore-based <keyword id="6559242" type="General" weightage="50" keywordseo="great-learning" source="Orion">Great Learning</keyword> for $600 million in 2021. Both these entities will function independently, <keyword id="3320944" type="General" weightage="100" keywordseo="byjus" source="Orion">Byjus</keyword> had said. Edtechs in trouble This year, many edtech companies have been suffering from loss of clientele after offline classes have commenced and screen fatigue. Since July this year, many edtech companies like Unacademy and Vedantu have been laying off <a href="https://www.businessinsider.in/business/startups/news/60000-jobs-in-startup-companies-may-lose-their-jobs-this-year-in-india-experts-say/amp_articleshow/91804572.cms">employees</a>. Byju’s which has by then also made its presence felt in offline coaching, is also known to have gone down the same path. As per reports, <a href="https://www.business-standard.com/article/companies/byju-s-owned-whitehat-jr-lays-off-300-employees-in-latest-round-of-job-cuts-122062900323_1.html">WhiteHat Jr, owned by Byju's</a>, laid off around 300 employees in June from the code-teaching and sales teams. However, various <a href="https://www.news18.com/news/business/byjus-lays-off-over-2500-employees-in-toppr-and-whitehat-jr-to-cut-costs-5463853.html">media reports have pegged the layoff </a>number between 1,500-2,500. The company vehemently denied the numbers, but did admit to retrenchments. “To recalibrate our business priorities and accelerate our long-term growth, we are optimizing our teams across our group companies. This entire exercise involves less than 500 employees from across Byju's group companies,” the company spokesperson said after denying the 2,500 layoff number. In good shape says management The edtech giant, which is valued at around $22 billion and is the first edtech unicorn in India has also been under scrutiny for various reasons. The company management however insists that it is in good shape. <keyword id="5563078" type="General" weightage="50" keywordseo="divya-gokulnath" source="Orion">Divya Gokulnath</keyword>, the company’s co-founder also came out in defense of the company saying that a lot has happened since its FY21 results and its widened losses have already been cut by half in FY22. “It’s easy to forget that we are 18 months post FY21, and that BYJU’S has grown more than 4 times in this span,” she wrote in an open letter on LinkedIn. For this year, the company has set a target to achieve $2 billion in revenues. The company founder has stated time <a href="https://www.business-standard.com/article/companies/byju-s-focusing-on-profitable-growth-2-bn-revenue-within-the-sights-ceo-122092001266_1.html">and again that this</a> “revenue within sight”. On the other end of the spectrum, <a href="https://www.bbc.com/news/world-asia-india-58951449">Byju’s users have been complaining </a>about aggressive sales tactics and its effects on learning abilities. Moreover, a few of its employees too <a href="https://twitter.com/malpani/status/1379826997598121987?lang=en">publicly spoke of its</a> high-pressure tactics and practices that’s turned almost exploitative to Indian parents who place a lot of value on their children’s education. SEE ALSO: <a target="_blank" class="c-link" href="https://www.businessinsider.in/business/news/investments-in-real-estate-touched-3-6-billion-in-jan-sep-period-colliers/articleshow/94833113.cms">Investments in real estate touched $3.6 billion in Jan-Sep period: Colliers</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/business/corporates/news/it-cos-go-slow-on-hiring-despite-high-attrition-rates-hiring-down-57-in-q2/articleshow/94832706.cms">IT cos go slow on hiring despite high attrition rates, hiring down 57% in Q2</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/business/news/elon-musk-jokes-he-is-selling-perfumes-to-fund-twitter-acquisition/articleshow/94832660.cms">Elon Musk jokes he is selling ‘Burnt Hair’ perfumes to fund Twitter acquisition, changes bio to “Perfume Salesman” as sales cross 20,000</a>

The many troubles at BYJU’s that goes beyond the recent layoffs

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>

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

<img class="gwt-Image" src="/photo/30726924.cms" /> Do you ever wonder what it would be like if we have a <keyword id="6354576" type="CITY" weightage="80" keywordseo="Facebook">Facebook</keyword> for <keyword id="504808" type="ORGANIZATION" weightage="100" keywordseo="Foodies">foodies</keyword>? <keyword id="6354630" type="PERSON" weightage="60" keywordseo="Mark-Zuckerberg">Mark Zuckerberg</keyword> hasn’t started one yet, but an Indian-origin start-up has come up with a social platform for <keyword id="2067882" type="UNKNOWN" weightage="100" keywordseo="Recipe-sharing">recipe sharing</keyword>. Meet <keyword id="2067846" type="COMPANY" weightage="100" keywordseo="Cucumbertown">Cucumbertown</keyword>.com, a delightfully simple <keyword id="2067867" type="UNKNOWN" weightage="100" keywordseo="Recipe-blogging-platform">recipe blogging platform</keyword> that connects <keyword id="2067869" type="UNKNOWN" weightage="100" keywordseo="Amateur-cooks">amateur cooks</keyword> and <keyword id="2067871" type="UNKNOWN" weightage="100" keywordseo="Pro-chefs">pro chefs</keyword> with the foodies of the world. On this fast-growing <keyword id="6354615" type="ORGANIZATION" weightage="100" keywordseo="Social-network">social network</keyword>, users can publish their recipes without the least hassle and browse through the entire repository of <keyword id="2067874" type="UNKNOWN" weightage="100" keywordseo="Gourmet-creations">gourmet creations</keyword> and <keyword id="2067875" type="UNKNOWN" weightage="100" keywordseo="Culinary-delights">culinary delights</keyword>. However, it is the ‘social’ part that puts one’s <keyword id="1527920" type="UNKNOWN" weightage="100" keywordseo="cooking-skills">cooking skills</keyword> to test. There is a rating system used by the Cucumbertown tribe that effectively makes out whether a recipe is good, average or bad. 
 But what intrigues one most on this recipe <keyword id="1188271" type="UNKNOWN" weightage="100" keywordseo="publishing-platform">publishing platform</keyword> is the ease of use. On Cucumbertown, one can write a recipe in a standard format, add images/multimedia and upload everything with a few clicks. Once your ‘post’ is up, the social platform starts buzzing with <keyword id="824939" type="UNKNOWN" weightage="100" keywordseo="opinions">opinions</keyword>, <keyword id="6400508" type="UNKNOWN" weightage="100" keywordseo="Conversations">conversations</keyword> and ‘<keyword id="31407" type="UNKNOWN" weightage="100" keywordseo="craves">craves</keyword>’ (similar to <keyword id="1110433" type="UNKNOWN" weightage="100" keywordseo="Facebook-likes">Facebook Likes</keyword>). You can also follow your favourite cook/s and get customised notifications when content is published by your friends. Well, of course, <keyword id="629729" type="UNKNOWN" weightage="100" keywordseo="Epicurious">Epicurious</keyword> has it all, but Cucumbertown is aiming even higher and wants to be the <keyword id="279713" type="COMPANY" weightage="100" keywordseo="Tumblr">Tumblr</keyword> in <keyword id="2067884" type="UNKNOWN" weightage="100" keywordseo="Cooking-and-food-space">cooking and food space</keyword>. Here is a snapshot that captures the start-up’s vision and viability. 
 
Who runs Cucumbertown (www.cucumbertown.com): A team of four co-founders, hailing from three continents (two from <keyword id="6355033" type="COMPANY" weightage="100" keywordseo="Bangalore">Bangalore</keyword>, one from <keyword id="57516" type="COMPANY" weightage="80" keywordseo="Zurich">Zurich</keyword> and one from Pennsylvania). In fact, none of them had met each other during the build-up period. <keyword id="5645" type="POSITION" weightage="80" keywordseo="CEO">CEO</keyword> <keyword id="326430" type="PERSON" weightage="100" keywordseo="Cherian-Thomas">Cherian Thomas</keyword> worked with <keyword id="188699" type="COMPANY" weightage="80" keywordseo="Zynga">Zynga</keyword> before setting up Cucumbertown in 2012. Other three co-founders include <keyword id="238078" type="POSITION" weightage="100" keywordseo="CTO">CTO</keyword> <keyword id="2067847" type="UNKNOWN" weightage="100" keywordseo="Arun-Prabhakar">Arun Prabhakar</keyword> who had earlier worked with several Indian start-ups such as <keyword id="736993" type="COMPANY" weightage="60" keywordseo="taggle">Taggle</keyword> and TutorVista; <keyword id="2067892" type="UNKNOWN" weightage="100" keywordseo="Chris-Lscher">Chris Lüscher</keyword>, founding partner at <keyword id="2067891" type="UNKNOWN" weightage="100" keywordseo="Information-Architects">Information Architects</keyword>, one of the world’s leading design firms, and <keyword id="2067853" type="UNKNOWN" weightage="100" keywordseo="Dan-Hauk">Dan Hauk</keyword>, <keyword id="2067932" type="POSITION" weightage="100" keywordseo="theme-designer">theme designer</keyword> of <keyword id="825836" type="UNKNOWN" weightage="80" keywordseo="Wordpress">WordPress</keyword>, Tumblr and the likes. Dan left the start-up in August 2013, but still helps whenever he can. 
 Although Cherian calls it a labour of love, he is hell-bent on building a <keyword id="2067893" type="UNKNOWN" weightage="100" keywordseo="global-product">global product</keyword>. The Bangalorean has sought world-class talent and built a strong team – one that has a good understanding of the <keyword id="35145" type="UNKNOWN" weightage="100" keywordseo="global-market">global market</keyword> and is totally aware of the challenges to be faced. The start-up currently operates from <keyword id="108002" type="COMPANY" weightage="100" keywordseo="Mountain-View">Mountain View</keyword> (<keyword id="2379" type="CITY" weightage="100" keywordseo="California">California</keyword>) and Bangalore. 
 
What inspired the venture: Pure passion. A die-hard foodie who loves to <keyword id="9230" type="PERSON" weightage="100" keywordseo="Cook">cook</keyword>, Cherian has always wanted to blog about cooking, but it turned out to be a cumbersome process. Creating a blog, <keyword id="97496" type="PERSON" weightage="100" keywordseo="Writing">writing</keyword> &amp; uploading recipes and putting up images/videos on the site require a lot of technical knowledge. That’s when he realised how difficult it must be for cooks and chefs who may not be tech savvy. “So I decided to build a user-friendly platform, contacted the best guys to help me out and here we are,” reflects Cherian. 
 
What’s the pitch: Cucumbertown aims to be the ‘Tumblr’ for cooking and food space. It offers an attractive alternative to posting recipes and food-related content on WordPress, Tumblr, <keyword id="58677" type="UNKNOWN" weightage="100" keywordseo="Blogger">Blogger</keyword> and so on. The start-up provides an easy-to-use interface for publishing recipes – so that even an amateur cook can gain traction online and wow readers by sharing his/her culinary creations. “We all know what blogging has done to content publishing. Cucumbertown can do the same in cooking &amp; food space, and leverage the potential of <keyword id="1175407" type="UNKNOWN" weightage="100" keywordseo="Internet-commerce">Internet commerce</keyword> in the process,” the CEO says. 
 
How it works: Cucumbertown is to cooking what Tumblr is to blogging and keeping things easy is the start-up’s USP. One can log in via Facebook or create a new account before using the site. Once there, you can publish recipes, upload images and search the <keyword id="2067873" type="UNKNOWN" weightage="100" keywordseo="Recipe-database">recipe database</keyword> by cook, cuisine, course, <keyword id="493272" type="UNKNOWN" weightage="100" keywordseo="Ingredient">ingredient</keyword>, <keyword id="2067917" type="UNKNOWN" weightage="100" keywordseo="Cooking-time">cooking time</keyword> and <keyword id="2067918" type="UNKNOWN" weightage="100" keywordseo="Difficulty-level">difficulty level</keyword>. Search results can be listed based on relevance, popularity or comments. Publishing on the site is especially easy as Cucumbertown provides a plethora of tools, including a <keyword id="2067859" type="UNKNOWN" weightage="100" keywordseo="recipe-editor">recipe editor</keyword>. Moreover, if a recipe is already up, you can post a different version, showing your culinary creativity. 
 
Claim to fame: Traction and global reach-out. The company claims it is one of the fastest growing food <keyword id="50752" type="UNKNOWN" weightage="80" keywordseo="Networks">networks</keyword>, with users from around 40 countries. And right now, it is eyeing further expansion in the US and Europe. Interestingly, Cucumbertown is one of the heavily funded pre-revenue start-ups and has raised money from the same <keyword id="6359051" type="COMPANY" weightage="100" keywordseo="investors">investors</keyword> who had funded companies such as Facebook, <keyword id="6354616" type="CITY" weightage="60" keywordseo="Twitter">Twitter</keyword>, Zynga and <keyword id="6355629" type="CITY" weightage="60" keywordseo="Google">Google</keyword>. Till date, the start-up has raised $300K in <keyword id="948731" type="UNKNOWN" weightage="100" keywordseo="seed-funding">seed funding</keyword>. Its key investors include <keyword id="1452668" type="COMPANY" weightage="100" keywordseo="500-Startups">500 Startups</keyword>, <keyword id="2067923" type="UNKNOWN" weightage="100" keywordseo="Naval-Ravikant">Naval Ravikant</keyword> of <keyword id="1922133" type="UNKNOWN" weightage="100" keywordseo="AngelList">AngelList</keyword>, <keyword id="2067926" type="UNKNOWN" weightage="100" keywordseo="Farmville-co-creator">Farmville co-creator</keyword> <keyword id="2067925" type="UNKNOWN" weightage="100" keywordseo="Sizhao-Zao-Yang">Sizhao Zao Yang</keyword>, <keyword id="2067927" type="UNKNOWN" weightage="100" keywordseo="Maneesh-Arora">Maneesh Arora</keyword> of <keyword id="1734576" type="UNKNOWN" weightage="100" keywordseo="MightyText">MightyText</keyword>, <keyword id="2067860" type="UNKNOWN" weightage="80" keywordseo="Richard-Chen">Richard Chen</keyword> (ex-Google PM), <keyword id="2067928" type="UNKNOWN" weightage="100" keywordseo="Sonique-Player-co-creator">Sonique Player co-creator</keyword> <keyword id="2067848" type="UNKNOWN" weightage="80" keywordseo="Tabreez-Verjee">Tabreez Verjee</keyword> and <keyword id="2067850" type="UNKNOWN" weightage="80" keywordseo="Mokriya">Mokriya</keyword> founder-CEO <keyword id="2067849" type="UNKNOWN" weightage="80" keywordseo="Sunil-Kanderi">Sunil Kanderi</keyword>, among others. 
 
Show me the money: As an early consumer Web start-up that emulates <keyword id="6357722" type="COMPANY" weightage="100" keywordseo="silicon-valley">Silicon Valley</keyword>, Cucumbertown is yet to have a solid monetisation model. “In fact, we will look at revenue generation in 3-4 years from now,” says Cherian. “We are now following a similar model that Twitter, Facebook and others pursued, which means we are currently focusing on how the product evolves and gets accepted in the global market. That’s what our investors also want – once the product gets the final shape, money will come in,” he adds. 
 
Cucumbertown has immense growth potential though, as the food and cooking space is getting bigger month on month. For instance, in November last year, 41% Americans visited such websites, up 2 million in terms of unique visitors from October 2013. These numbers won’t go down all of a sudden and the start-up can expect more traction when it starts expanding this year. 
 
Biggest challenge: Scaling to <keyword id="6409094" type="COMPANY" weightage="100" keywordseo="International-Markets">international markets</keyword>, especially non-English markets like <keyword id="87" type="COUNTRY" weightage="80" keywordseo="Germany">Germany</keyword>, while maintaining content and image quality. “We are a small team building a very big product. So we are not thinking about break-even or revenues at this point. The <keyword id="6357455" type="EVENT" weightage="100" keywordseo="Funding">funding</keyword> we raised would last for a while. Meanwhile, we must ensure that our users have the <keyword id="2067933" type="UNKNOWN" weightage="100" keywordseo="best-publishing-tools">best publishing tools</keyword>. That way, they will keep coming back to us and the <keyword id="1413000" type="UNKNOWN" weightage="100" keywordseo="User-base">user base</keyword> will grow manifold,” explains Cherian. 
 
A word for wannapreneurs: If you have the passion, go for it. And don’t let failures discourage you. In India, shutting down your business may seem like a disaster, but things are quite different across the globe and especially in Silicon Valley. So many people have failed here, but they have found the courage and the means to start up all over again. Both our entrepreneurs and investors should grow a robust <keyword id="170907" type="UNKNOWN" weightage="100" keywordseo="risk-appetite">risk appetite</keyword> and must have <keyword id="2067937" type="UNKNOWN" weightage="100" keywordseo="Risk-tolerance">risk tolerance</keyword>. Moreover, we should give our ventures adequate time, so that they can generate value in the long run.

This Social Network Presents Amateur
Cooks & Pro Chefs; Wants To Be A Tumblr For Foodies

<ul><li>While the details of the deal remain undisclosed, <keyword id="2016957" type="COMPANY" weightage="20" keywordseo="Vedantu">Vedantu</keyword> had also invested $2 million in <keyword id="9450626" type="UNKNOWN" weightage="20" keywordseo="Instasolv">Instasolv</keyword> in July 2020.</li><li>The latest acquisition will bring on board Instasolv’s 1 million learners to Vedantu’s platform which is already 25 million strong.</li><li>This is the latest acquisition in <keyword id="1464841" type="PERSON" weightage="20" keywordseo="Edtech">edtech</keyword>, which has been led by BYJU’S and <keyword id="6630114" type="UNKNOWN" weightage="20" keywordseo="unacademy">Unacademy</keyword>.</li></ul>Indian online tutoring startup Vedantu has acquired Instasolv, a doubt-solving app – marking its first acquisition in the buzzing educational technology space. While the details of the deal remain undisclosed, Vedantu had also invested $2 million in Instasolv in July 2020. “Last year we took a strategic decision to invest in Instasolv to strengthen our play in doubt-solving, which is one of the key aspects of learning online. We have seen tremendous potential in Instasolv and share the same mission to democratize education in the country. Through this partnership we endeavor to change India’s learning curve through definitive outcomes,” said Vamsi Krishna, chief executive officer and co-founder of Vedantu, in a statement. The latest acquisition will bring on board Instasolv’s 1 million learners to Vedantu’s platform which is already 25 million strong. Instasolv was founded in 2019 by IIT graduates Aditya Singhal, Nishant Sinha, and Bahul Arora. Vedantu Innovation Pvt. Ltd was founded in 2011 by IIT alumni Vamsi Krishna, Anand Prakash, and Pulkit Jain. In April 2020, the company had raised funding in two tranches – $12.6 million and $7 million for a Series C round. Its last <a href="https://entrackr.com/2020/04/exclusive-vedantu-valuation-280-mn-after-7-mn-in-fresh-funding/">reported</a> valuation is $280 million. Vedantu’s acquisition of Instasolv is the latest in the Indian edtech ecosystem which has players like BYJU’S, the world’s most valued edtech startup and Unacademy, which was last valued at over <a href="https://www.businessinsider.in/business/startups/news/amazon-enters-the-test-preparation-market-byjus-is-in-talks-for-a-billion-dollar-acquisition-and-facebook-backed-unacademy-raises-more-funds-a-big-day-in-indias-edtech/articleshow/80252646.cms">$2.45 billion</a>. <table><tbody><tr><td>Startup</td><td>Acquired startup</td><td>Timeline of acquisition</td></tr><tr><td>Unacademy</td><td>TapChief</td><td>February, 2021</td></tr><tr><td>Unacademy</td><td>NeoStencil</td><td>December 2020</td></tr><tr><td>Unacademy</td><td>PrepLadder</td><td>July 2020</td></tr><tr><td>Unacademy</td><td>Mastree</td><td>July, 2020</td></tr><tr><td>Unacademy</td><td>Codechef</td><td>June 2020</td></tr><tr><td>Unacademy</td><td>Coursavy</td><td>September 2020</td></tr><tr><td>Unacademy</td><td>Kreatryx</td><td>March 2020</td></tr><tr><td>BYJU’S</td><td>Osmo</td><td>Jan 2019</td></tr><tr><td>BYJU’S</td><td>White Hat Jr</td><td>Aug 2020</td></tr><tr><td>BYJU’S</td><td>LabInApp</td><td>Sept 2020</td></tr><tr><td>BYJU’S</td><td>TutorVista</td><td>Jul 2017</td></tr><tr><td>BYJU’S</td><td>Math Adventures</td><td>Jul 2018 </td></tr><tr><td>BYJU’S</td><td>Vidyartha</td><td>Jan 2017</td></tr></tbody></table> BYJU’S is also reportedly in talks with a few startups -- including <a href="https://www.businessinsider.in/business/startups/news/heres-why-byjus-may-want-to-spend-a-billion-dollars-on-acquiring-aakash-educational-services/articleshow/80243456.cms">Aakash </a>institute, <a href="https://entrackr.com/2021/02/exclusive-byjus-set-to-acquire-toppr-in-a-150-mn-deal/">Toppr</a>, and <a href="https://www.techinasia.com/sources-byjus-acquires-doubt-solving-edtech-startup-scholr">Schoolr</a> -- to buy them out. With the coronavirus pandemic and the subsequent lockdown that saw schools and colleges close their doors, online learning emerged as the next big thing to watch out for. The year 2020 saw India’s edtech startups raise over $2.2 billion in funding, with BYJU’S alone accounting for $1.35 billion, according to a <a href="https://www.businessinsider.in/business/startups/news/india-edtech-in-charts-how-the-shift-to-online-learning-meant-money-valuation-and-users-for-the-likes-of-byjus-unacademy-and-others/articleshow/80040270.cms">PGA Labs-IVCA report</a>. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/unacademy-acquires-tapchief-to-help-students-get-their-dream-jobs-its-seventh-acquisition-in-the-last-one-year/articleshow/80982132.cms">Unacademy acquires TapChief to help students get their dream jobs – its seventh acquisition in the last one year</a> <a href="https://www.businessinsider.in/business/ecommerce/news/discounts-have-dropped-lower-on-the-customer-priority-list-say-indian-online-retailers/articleshow/81145830.cms">Discounts have dropped lower on the customer’s priority list, say Indian e-tailers</a> <a href="https://www.businessinsider.in/finance/banks/news/analysts-reports-showed-that-90-percent-of-unsecured-retail-loans-have-gone-to-salaried-government-employees/articleshow/81150110.cms">One in every five rupees lent by SBI to individuals, goes to government employees</a>

Vedantu acquires Instasolv, a doubt-solving app – the latest in buzzing edtech acquisitions in India

<ul><li>BYJU’S is now looking to conquer bigger international markets, starting with the US. </li><li>Speaking on the sidelines of the Business Insider Global Trends Festival 2020, <keyword id="1702989" type="PERSON" weightage="20" keywordseo="Byju-Raveendran">Byju Raveendran</keyword> said that just like how India provides software engineers to the world, we can also provide teachers.</li><li>While White Hat Jr currently offers only coding, Byju added that they would soon add mathematics to its offerings.</li></ul>The world’s most valued edtech startup, BYJU’S, is now aiming for global domination. After riding the wave of <keyword id="23248" type="PERSON" weightage="20" keywordseo="Online-learning">online learning</keyword> in India during the coronavirus lockdown, BYJU’S is now looking to conquer bigger international markets, starting with the US. “I strongly believe that having a strong primary market like India helps us create the right products and there is an opportunity to take this ahead and help students learn outside India,” said Byju Raveendran, founder of the $11 billion BYJU’S, on the sidelines of the Business Insider Global Trends Festival 2020. He added that just like how India provides software engineers to the world, we could also provide teachers, especially given the current scenario and the push for online learning. Riding on acquisitions for international expansion BYJU’S isn’t going into uncharted territory by itself. Instead it has made acquisitions that will help the edtech startup walk into new countries with an existing user base. “We are not starting from zero here; we have made two good acquisitions which will help us accelerate our international expansion plans. One is Osmo which is a Palo Alto-based company, they are expected to close this year with a $100 million revenue. And the other is White Hat Jr, where we will be using their model of having teachers in India helping students around the world,” said Byju. While White Hat Jr currently offers only coding, Byju said they would soon add mathematics to its offerings. Byju’s acquisition spree <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Acquired company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Expertise </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amount paid by BYJU’S </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Osmo </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Augmented Reality game maker and learning platform for kids </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$120 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">White Hat Jr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coding startup for kids </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$300 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">LabInApp </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lab simulation startup </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Undisclosed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TutorVista </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Online tutoring in the US </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Undisclosed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Math Adventures </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Activity-based math learning platform </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Undisclosed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vidyartha </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Assessment platform </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Undisclosed </td></tr></tbody></table> New product launch Taking the White Hat Jr approach of teachers from India teaching students across the world, Byju said they will soon be creating a product for teachers that will help them teach better. “You will see us launching this and scaling it in English speaking markets,” he said. White Hat Jr is already at a $200 million run rate and Byju hopes to build on that. “Our expertise is in asynchronous teaching, their expertise is in synchronous and one-on-one models. From a format perspective, the best thing is to find the balance – synchronous learning will bring in schedule, asynchronous will bring personalised learning. You will see us integrating at the platform level and bringing both the formats together,” he said. And which brand name will take over – White Hat Jr or BYJU’S? Byju says that is a topic still under discussion. “There will be a parent brand name and the subsidiaries with their individual brands. We are figuring out how we should brand it in the new markets,” he said. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/byjus-renewal-rates-stand-at-86-the-founder-of-the-11-billion-edtech-startup-shares-how-they-cracked-the-code-for-repeat-subscriptions/articleshow/78749254.cms">EXCLUSIVE: BYJU’S renewal rates stand at 86% – the founder of the $11 billion edtech startup shares how they cracked the code for repeat subscriptions</a>

'India can provide teachers to the world, just like software engineers,' says Byju Raveendran as he plans to take his $11 billion edtech startup to US shores

<ul><li>BYJU’S is reportedly set to acquire the brick and mortar preparatory services institute <keyword id="3406091" type="COMPANY" weightage="20" keywordseo="aakash-educational-services">Aakash Educational Services</keyword> for a whopping $1 billion. </li><li>If the deal goes through, it will become one of the biggest edtech deals in the world. </li><li>Interestingly, Aakash Educational Services in November 2020 had appointed Abhishek Maheshwari as Chief Executive Officer (CEO) of the company. Maheshwari was earlier the President of International Business for BYJU’S.</li></ul>India’s edtech unicorn BYJU’S is <a href="https://www.bloombergquint.com/business/byju-s-said-to-pay-1-billion-for-blackstone-backed-india-tutor">reportedly </a>set to acquire the brick and mortar preparatory services institute Aakash Educational Services for a whopping $1 billion. If the deal goes through, it will become one of the biggest edtech deals in the world. Aakash Educational Services runs over 200 coaching institutes across the country and has a student count of more than 2,50,000, which would give BYJU’S a direct entry into the test preparation market. Interestingly, Aakash Educational Services in November 2020 had appointed Abhishek Maheshwari as Chief Executive Officer (CEO) of the company. And before joining Aakash, Maheshwari was the President of International Business for BYJU’S, where he was responsible for BYJU’S global growth. While BYJU'S declined to comment on the matter, Aakash Educational Services Limited (AESL) confirmed that it is in talks with Byju's for building a strong partnership. However, the company said that the founders JC Chaudhry and Aakash Chaudhry remain committed and will continue to run Aakash Educational Services along with its management team with the same passion and commitment. "Putting these speculations to rest, we would like to state that AESL is on a mission to build India's largest digitally-enabled, omni-channel education company. We will accelerate our digital transformation and deliver phenomenal value to our students. We will rapidly expand our omni channel &amp; digital offerings, as we embark on the next trajectory of quality education &amp; growth. We remain true to our Founder's motto of ‘Student First,' enabling us to deliver long-term value to our students, employees, investors and other stakeholders," said the company. When we spoke with BYJU’S founder <keyword id="1702989" type="PERSON" weightage="20" keywordseo="Byju-Raveendran">Byju Raveendran</keyword> in October 2020, about a possible entry into the brick and mortar school market, here’s what he had to say. “Conceptually, there is a strong business model there, but it's a very risky space in India to get into also. You never know what time the regulations can hit you in the school space,” said the billionaire founder. <div type="Youtube" id="qIe5VhDvJXU" title="How EdTech Can Shape The Future Hereon?" thumbUrl="https://i.ytimg.com/vi/qIe5VhDvJXU/mqdefault.jpg"></div> Talking about whether there would be a BYJU’S school, which could take the $12 billion edtech giant’s model offline, Raveendran had said, “No, there won’t be. We are very clear that what we have created is to have more active learners, especially when they learn at home complementing the synchronous learning happening at schools. We’ll stay focussed on what we know best,” he had said. But BYJU’S hasn’t been completely defiant about offline learning, with the <a href="https://www.businessinsider.in/education/news/byjus-co-founder-says-teaching-must-change-on-national-education-day/articleshow/79166022.cms">founders</a> having always said that blended learning is the future. For BYJU’S, this would be a big cheque to dole out. It recently acquired coding startup WhiteHat Jr for $300 million in August 2020, and that has been <a href="https://www.businessinsider.in/business/startups/news/white-hat-jr-gets-a-partial-gag-order-against-pradeep-poonia-who-now-has-to-defend-a-hacking-charge-as-well/articleshow/79365073.cms">mired in controversy</a> and legal tangles over its advertisements and teaching methods. Byju’s acquisition spree so far <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Acquired company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Expertise </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amount paid by BYJU’S </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Osmo </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Augmented Reality game maker and learning platform for kids </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$120 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">White Hat Jr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coding startup for kids </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$300 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">LabInApp </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lab simulation startup </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Undisclosed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TutorVista </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Online tutoring in the US </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Undisclosed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Math Adventures </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Activity-based math learning platform </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Undisclosed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vidyartha </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Assessment platform </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Undisclosed </td></tr></tbody></table> BYJU’S is known to enter new territories through acquisitions. When BYJU’S set its sights on international shores, it went ahead through the acquisition route. “We are not starting from zero here; we have made two good acquisitions which will help us accelerate our international expansion plans. One is Osmo which is a Palo Alto-based company, they are expected to close this year with a $100 million revenue. And the other is White Hat Jr, where we will be using their model of having teachers in India helping students around the world,” Raveendran had told <a href="https://www.businessinsider.in/business/startups/news/byju-raveendran-on-byjus-us-expansion-and-how-white-hat-jr-wont-just-be-about-coding-anymore/articleshow/78904109.cms">Business Insider in an earlier interview</a>. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/with-whatsapp-popularity-hit-zoho-plans-to-launch-arattai-messaging-app/articleshow/80206802.cms">Zoho plans to woo WhatsApp defectors with its own messaging app Arattai</a>

Here's why BYJU’S may want to spend a billion dollars on physical coaching centres

<ul><li>Speaking at the Business Insider Global Trends Festival 2020, <keyword id="1702989" type="PERSON" weightage="20" keywordseo="Byju-Raveendran">Byju Raveendran</keyword> shared one of the biggest highlights for the <keyword id="1464841" type="PERSON" weightage="20" keywordseo="Edtech">edtech</keyword> startup – they now have a 86% renewal rate.</li><li>From 2015 till March 2020, BYJU’S had 45 million free users on the platform with 3.5 million paid subscribers – in the last few months, the number has gone up to 70 million users and 4.7 million subscribers. </li><li>On the pricing front, Byju said the model would remain in a similar range over the next few years – aside from taking inflation into consideration.</li></ul>The world’s most valued edtech startup, BYJU’S, has had a phenomenal run so far this year. With millions of new users, and over a billion dollars in funding — second only to the mammoth fundraise by Reliance Jio and Retail over the last six months — 2020 has added a lot to this <keyword id="23248" type="PERSON" weightage="20" keywordseo="Online-learning">online learning</keyword> startup’s long list of wins. And the billionaire founder of the company, Byju Raveendran says there’s a lot more to come. Speaking at the Business Insider Global Trends Festival 2020, Byju shared one of the biggest highlights for the edtech startup – they now have a 86% renewal rate. A clear sign that BYJU’S is now a household name and people are happy to sign up year after year. <div type="twitter" handle="BiIndia" handlename="Business Insider India🇮🇳" image="http://pbs.twimg.com/profile_images/1232926719016718336/sfffJHNV_normal.jpg" favoritecount="0" retweetcount="0" status="#BIGTF2020 | Here is what #ByjuRaveendran said on the future of #OnlineEducation in India at the #BIGTrendsFestival… https://t.co/4L8IDVwRQR" createdat="1603108068000" id="1318156895668981760"></div> 70 million users, 4.7 million subscribers – How BYJU’S cracked the code From 2015 till March 2020, BYJU’S had garnered 45 million free users on the platform, with 3.5 million paid subscribers. But in the last few months, the number has gone up to 70 million users and 4.7 million subscribers. “A lot of them are trying out online learning and that’s happening more than before. Unfortunately, it eventually took a crisis like this for people to try out online learning and all stakeholders, not just students,” said Byju. <div type="image" title="Byjus subscribers." msid="78749268" hostid="261"></div> The $11 billion edtech startup has wrapped up a five-year cycle of renewals and has closed the year with an 86% renewal rate. “That’s a clear validation of the effectiveness. Parents won’t spend again if the students are just using the platform, only if it is useful and beneficial they will renew,” he said. <div type="image" title="byjus downloads." msid="78749284" hostid="261"></div> And how do parents measure the outcome? Unfortunately, Byju says they look at the academic scores. “We have to show that result, otherwise it's very difficult to sustain,” he said. Finding the balance between the love for learning and learning for exams One of the most popular concepts at BYJU’S has been the interactive content they offer. For the early age group they use movie-like videos, game-like interactions to ensure that students like what they are seeing. Through interactive content they have brought in engagement. But Byju says it is important to remember at the core of it all, they are an education company, so simplifying and visualizing concepts was essential. “We had a large set of free users, and those who get into the habit of learning from a screen, using it a few times a week, that’s who becomes a paid user. We understand how this works across age groups,” he said. And that also explains the various acquisitions BYJU’S has done – to improve the range and kind of content offered on their platform. Byju’s acquisition spree <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Acquired company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Expertise </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amount paid by BYJU’S </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Osmo </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Augmented Reality game maker and learning platform for kids </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$120 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">White Hat Jr </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coding startup for kids </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$300 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">LabInApp </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lab simulation startup </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Undisclosed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TutorVista </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Online tutoring in the US </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Undisclosed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Math Adventures </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Activity-based math learning platform </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Undisclosed </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vidyartha </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Assessment platform </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Undisclosed </td></tr></tbody></table> The content they use on the platform impacts not just the students but also the entire ecosystem. “It is always easy to change the way students learn, it's a lot tougher to change the way teachers teach, institutions trying to go online and parents accepting this as a mainstream format of learning, not just as a replacement of school,” he said. Will BYJU’S increase pricing? Byju remains confident that their pricing is going to remain in a similar range – taking into consideration the natural inflation. “On an average, we have a ₹14,000-15,000 subscription per year, which varies from age group to age group,” he said. But they are also experimenting with creating content in regional languages “possibly at half the price points.” “There is an opportunity to help a lot more students. We have not yet figured out the monetization part of it, although the product is ready, and we are already offering it to free users,” he said.

EXCLUSIVE: BYJU’S renewal rates stand at 86% – the founder of the $11 billion edtech startup shares how they cracked the code for repeat subscriptions

<ul><li>India’s largest online tutoring startup Byju’s is expected to become 4th most valued startup in the country after Paytm, Ola Cabs and OYO Rooms. </li><li>The company’s valuation is expected to be raised to ₹254 billion ($3.5 billion) by the end of the funding round with the company adding $200-300 million to its portfolio. </li><li>The company has successfully got blue- chip investors including the private equity giant General Atlantic. </li></ul>India’s largest <keyword id="23248" type="PERSON" weightage="20" keywordseo="Online-learning">online learning</keyword> startup Byju’s (Think &amp; Learn Pvt Ltd) is all set to be the 4th most valued Indian startup. It’s in the middle of a new funding round that’s <a href="https://www.livemint.com/Companies/kNyn82lsWEVRP34pbxyRsK/Byjus-may-achieve-4th-rank-in-Indias-startups-class.html">expected to raise</a> ₹14.5 million to ₹ 22 million ($200-300 million) from new investors including General Atlantic, a private equity giant. The influx of new funds are expected to increase the company’s value to ₹245 billion ($3.5 billion) making it the fourth highest valued company in the league after digital payments company Paytm, cab service provider Ola and budget hotel chain OYO Rooms. Sources close to these developments have said that private equity has inflated the valuation of the start up to an amount higher than what was expected at first. The secondary valuation is expected to happen at a lower amount since the existing investors, such as Sequoia Capital, may release a certain part of its shares or consider exiting the company altogether. Last month, the edutech startup closed the funding round gushing <a href="https://entrackr.com/2018/10/byjus-4th-most-valued-indian-startup/">$100 million</a> with the valuation reaching $2 billion mark already. It looks like the overpowering interest of the investors in the startup has lead to a valuation higher than anticipated post the closing round. Byju’s story so far Byju’s has been one of the fastest growing tech <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> in India. The company raised around $30 million from Verlinvest followed by $40 million from Tencent Holdings Ltd in July 2017, as reported by<a href="https://www.livemint.com/Companies/kNyn82lsWEVRP34pbxyRsK/Byjus-may-achieve-4th-rank-in-Indias-startups-class.html"> Mint.</a> So far, the startup has exceeded the investor expectations with its growth trajectory. The company that was originally just an offline teaching centre in Bengaluru, slowly expanded its operations online with the launch of its first app in 2015. The tutoring startup also plans to come up with apps for younger students soon. The company also acquired Vidyartha, TutorVista and Edurite last year as a mark of its growth and is ready with its fourth acquisition Math Adventures this year. By the end of FY18, the <a href="https://www.livemint.com/Companies/kNyn82lsWEVRP34pbxyRsK/Byjus-may-achieve-4th-rank-in-Indias-startups-class.html">expectation</a> is that Byju’s is only going get more lucrative. The company also claimed to have exceeded ₹100 crore monthly revenue this June and is looking forward to reach a mark of ₹1400 crore as the overall revenue. Byju Raveendran, Chief Executive, communicated to the <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/edutech-startup-byjus-quietly-turns-a-unicorn-company/articleshow/63293773.cms">Economic Times</a> that it is the fourth consecutive year that the startup has crossed 100% growth. Currently, the startup has a user base of 15 billion which includes a segment of paid users seeking education through online platforms. (Photo credit: <a href="https://www.startupstories.in/">Startup Stories India</a>)

India’s largest online learning service is all set to become the 4th highest valued Indian startup with a ₹254 billion valuation

<img class="gwt-Image" src="/photo/45703936.cms" /> The central government has approved eight <keyword id="44749" type="ORGANIZATION" weightage="20" keywordseo="Foreign-Direct-Investment">foreign direct investment</keyword> (<keyword id="44528" type="ORGANIZATION" weightage="20" keywordseo="FDI">FDI</keyword>) proposals worth Rs 34.77 crore. “Based on the recommendations of <keyword id="62529" type="ORGANIZATION" weightage="20" keywordseo="Foreign-Investment-Promotion-Board">Foreign Investment Promotion Board</keyword> (<keyword id="6360345" type="ORGANIZATION" weightage="20" keywordseo="FIPB">FIPB</keyword>)...government has approved eight proposals of foreign direct investment amounting to Rs.34.77 crore approximately,” revealed an official release. 
 
UK-based CSC Computer Sciences International Operations had asked for the government’s approval to set up a limited liability partnership (LLP) worth Rs 30 crore. Proposals of Mahanagar Gas Limited, Medicamen Biotech Ltd, TutorVista Global Private Ltd, Ventura (India) Pvt Ltd, Syssmart Services LLP and Mahindra CIE Automotive Ltd also the government’s clearance. 
 “In the FIPB meeting, a proposal relating to <keyword id="131506" type="CITY" weightage="20" keywordseo="Lupin-Ltd">Lupin Ltd</keyword> was recommended for consideration of Cabinet Committee on Economic Affairs (CCEA) as the investment involved was above Rs1,200 crore,” the release stated. Decision on as many as 12 proposals, including Syngene International Ltd, India Value Fund IV, SME <keyword id="6357264" type="ORGANIZATION" weightage="20" keywordseo="capital-market">Capital Market</keyword> Corporation, SNC-Lavalin Mauritius Ltd and Verint Systems (India) Pvt Ltd, were put off.

8 FDI Proposals Worth Rs 35 Crore Gets Govt’s Nod

<img class="gwt-Image" src="/photo/28335163.cms" /> 
​The growing proficiency of Indian technology companies in building innovative products is drawing a great deal of attention from global corporations eager to acquire fresh ideas and skilled workers. 
 
Applications that help ease online payments, offer security for data stored on multiple devices as well as those that help drive greater advertising revenue on mobile devices are some of the technologies on the shopping list of multinationals scouting for the right startup. In the next five years, experts say at least 40 technology ventures in India could be bought over by large corporations. 
 “Couple of them (startups) will be valued at over $1 billion (Rs 6,200 crore),” said Ravi Gururaj, an angel investor who heads the software product council at industry lobby <keyword id="6372077" type="CITY" weightage="60" keywordseo="Nasscom">Nasscom</keyword>. He expects about half a dozen technology ventures to be valued at around $500 million (Rs 3,100 crore) while <keyword id="818790" type="UNKNOWN" weightage="40" keywordseo="the-rest">the rest</keyword> will likely fetch a price of between $15 million (Rs 93 crore) and $50 million (Rs 311 crore). 
 A handful of such acquisitions has already set the ball rolling. Last November, Japanese engineering and electronics maker <keyword id="69870" type="CITY" weightage="40" keywordseo="Hitachi">Hitachi</keyword> acquired Prizm Payment Services, in a deal estimated at $250 million (Rs 1,547 crore). In mid 2013, South African media conglomerate Naspers bought online bus ticketing firm red-Bus for about $100 million (Rs 618 crore), giving it access to not only the large <keyword id="47445" type="UNKNOWN" weightage="40" keywordseo="Indian-market">Indian market</keyword> but disruptive technology as well. 
 “Multinational companies primarily look for talent and <keyword id="388837" type="UNKNOWN" weightage="40" keywordseo="intellectual-property">intellectual property</keyword> that can compete at global level,” said Prashant Gupta, group manager at Microsoft India (R&amp;D). “There are early signs in India that such companies are emerging that can meet these demands, especially in cloud-driven application lifecycle and big data,” he said. 
 
The global software maker runs an accelerator programme in India for technology startups that has graduated 22 ventures so far and is poised to make its first venture investment this year. 
 Interest from <keyword id="6355311" type="COUNTRY" weightage="40" keywordseo="Japan">Japan</keyword>ese corporations too is growing. Apart from the Hitachi deal, others such as NTT too have been active buyers. In 2012 Japan’<img class="gwt-Image" src="/photo/28335163.cms" style="margin: 5px; float: left;" />s <keyword id="913532" type="ORGANIZATION" weightage="40" keywordseo="NTT-Communications">NTT Communications</keyword> bought a majority stake in technology firm <keyword id="423557" type="COMPANY" weightage="40" keywordseo="Netmagic">Netmagic</keyword> for about Rs 900 crore. “India is becoming the laboratory for products and services for the world,” said Krishnan Ganesh, <keyword id="36740" type="POSITION" weightage="40" keywordseo="founder">founder</keyword> of online tutoring company TutorVista that was bought by the UK’s <keyword id="152222" type="CITY" weightage="40" keywordseo="Pearson">Pearson</keyword> group at an enterprise value of about Rs 1,000 crore. 
 
After the acquisition, the number of students using the services of TutorVista has tripled to four million across both the local and the US market. Pearson now aims to replicate the TutorVista model in emerging markets such as Brazil, China and South Africa. 
 
In 2013, there were 100 merger and acquisition deals across the India’s information technology industry. Of this, 31 whose value was announced were worth $1,906 million (Rs 11,807 crore), according to research firm Venture Intelligence. 
 The trigger for this growing M&amp;A activity is the range of disruptive technology startups emerging out of India. Companies such as advertising network InMobi, data analytics company Mu Sigma and online retailer <keyword id="6354742" type="COMPANY" weightage="40" keywordseo="Flipkart">Flipkart</keyword> have achieved a scale where they are valued at over $1 billion. “This is driven by leading-edge globally competitive technologies,” said Naren Gupta cofounder and managing director of Nexus Venture Partners, an early investor in Netmagic and online retailer <keyword id="541988" type="COMPANY" weightage="40" keywordseo="SnapDeal">Snapdeal</keyword>. 
 For instance, Pune-based <keyword id="741520" type="COMPANY" weightage="40" keywordseo="Druva">Druva</keyword> provides data security and retrieval software to customers such as US space agency <keyword id="6360409" type="ORGANIZATION" weightage="40" keywordseo="NASA">Nasa</keyword>, drug maker <keyword id="44612" type="CITY" weightage="40" keywordseo="Pfizer">Pfizer</keyword> and fashion brand <keyword id="5940" type="PERSON" weightage="40" keywordseo="Louis-Vuitton">Louis Vuitton</keyword>. 
<div style="page-break-after: always;">
	&#xa0;</div> In Chennai, Perfint Healthcare has developed robots that treat cancer by precisely inserting a needle in the affected area to burn or freeze a patient’s tumour, leaving the good tissue alone. The founders, all former employees of <keyword id="166456" type="COMPANY" weightage="40" keywordseo="GE-Healthcare">GE Healthcare</keyword>, quit to launch the firm when they realised the demand for such a product. For global corporations acquiring such game-changing technologies can help them enter new markets and raise barriers against competition. 
 Two years ago, when global software maker <keyword id="183292" type="CITY" weightage="40" keywordseo="Red-Hat">Red Hat</keyword> bought Bangalore-based <keyword id="6373689" type="ORGANIZATION" weightage="40" keywordseo="Cloud-computing">cloud computing</keyword> startup <keyword id="724826" type="COMPANY" weightage="40" keywordseo="Gluster">Gluster</keyword> for around Rs 667 crore, it acquired a storage platform technology which it offered to its customers for the first time. The cost of technology infrastructure to set up such ventures and scale them up for acquisitions has also come down drastically. 
 “A bunch of guys can now launch an application from a garage, keep the tablet or a mobile phone as the front end and the product becomes viral in few weeks,” said Anand Babu Periasamy, cofounder of Gluster. A computer <keyword id="6369183" type="POSITION" weightage="40" keywordseo="Engineer">engineer</keyword> graduate from <keyword id="119675" type="ORGANIZATION" weightage="40" keywordseo="annamalai-university">Annamalai University</keyword>, Periasamy who now works at Red Hat is aiming to build Gluster into a billion dollar business unit. 
 
Experts hope small-size technology ventures in India will also attract the attention of larger firms. “Smaller exits are the life blood for health<img class="gwt-Image" src="/photo/28335165.cms" style="margin: 5px; float: left;" />y startup ecosystems like in <keyword id="6355882" type="COUNTRY" weightage="40" keywordseo="israel">Israel</keyword> and US,” said Sharad Sharma co founder of software product think-tank iSpirt. Sharma is running an active M&amp;A Connect Program at iSpirt that is curating a list of several dozen companies. 
 Some of those on the radar are retail services software maker Capillary Technologies, healthcare applications provider <keyword id="1165142" type="UNKNOWN" weightage="40" keywordseo="Practo">Practo</keyword> and security software maker <keyword id="171228" type="COMPANY" weightage="40" keywordseo="Quick-Heal">Quick Heal</keyword>. According to Sharma, many of them have shown healthy growth traction and are attractive for strategic partnerships. 
 Sharma of iSpirt is of the view that a larger proportion of bootstrapped companies is stymieing merger activity in India. “It is harder for large corporations when there is no validation from <keyword id="6357097" type="COMPANY" weightage="40" keywordseo="venture-capital">venture capital</keyword> firms,” he said. 
 The other major problem say experts is that large Indian firms such as Infosys, <keyword id="10862" type="CITY" weightage="40" keywordseo="Wipro">Wipro</keyword> and <keyword id="6357150" type="CITY" weightage="40" keywordseo="TCS">TCS</keyword> have shied away from making any such purchases, despite having huge cash reserves. Infosys has $4 billion (Rs 24,000 crore) cash reserves. 
 
“When Wipro can be in soaps and vegetable oil, why can’t they be in the Flipkarts of the world,” said Ganesh of TutorVista. “They are sitting on a huge cash reserve and not a fraction has been spent on startups. That mentality is not there.” 
 
“Over the next five years, I expect that quantity will dramatically improve and we can be optimistic about merger and acquisition activity out of India,” said Nasscom’s Gururaj.

Indian startups' global competitiveness and innovation make them acquisition targets

Krishnan <keyword id="6356252" type="PERSON" weightage="20" keywordseo="Ganesh">Ganesh</keyword>, has played a lot of roles in his life; from an engineer, to an entrepreneur, to now a venture builder, and his life has been nothing short of an trial. While his shoes have been too big to fill and as they keep changing, he is currently pioneering a unique model with Growth Story in India, which is probably only made popular by Rocket Internet in the country. GrowthStory is the venture-builder platform that Ganesh and his wife, Meena set up in 2011 which has promoted some of India's most disruptive start-ups including Portea Medical, Big Basket, Fresh Menu, Home Lane, AcadGild, HouseJoy, Social Frontier and many more. 

 

 

 

 

 

 

 

 

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This model is unique due to the fact that while Ganesh and Meena come up with entrepreneurial ideas, they hire executives to pull it off. It is not primarily "investment" only, but where GrowthStory is the "promoter," but where the Partners are often the originators of the idea, work to get a founding team in place, drive fund raising early in the game, work closely with founders to scale the venture, guide strategic direction et al. This ‘express’ entrepreneurship that the power couple pull through is extraordinary and the back- story to it is a roller coaster that, you can’t forget. Early life and career Ganesh’s father died in an accident when he was just nine years old and as the eldest of three siblings, he felt the need to set an example. His mother was a hard-working government servant and bought them up to the best of her capabilities.

 

 

 

 

 

 

 

 

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So Krishnan, became a mechanical engineer passed out from Delhi College of Engineering, and even got a post graduate degree from IIM before realizing that he didn’t want to be an engineer or just an MBA graduate. Ganesh credits his entrepreneurial trials to <keyword id="44903" type="PERSON" weightage="20" keywordseo="Shiv-Nadar">Shiv Nadar</keyword>, under whose guidance he experienced different business function, “I worked for five years in various functions and also as executive assistant to Shiv Nadar. My first venture started in 1990, a company called IT&amp;T where me and my friends pooled in money to get it started,” he told Business Insider. He ran the company till 1998 and remained the largest shareholder and director of the company till 2003 when it was sold to iGate. He went back to the corporate life but after two-years stint went back to entrepreneurship with his second business venture called CustomerAsset with Meena and another partner. It was later acquired by ICICI Bank in 2002 and Ganesh made $ 20 million for his stake in the company.

 

 

 

 

 

 

 

 

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In 2003 he stumbled upon an innovative new company called Marketics which was started by IIT and IIM graduates. Ganesh was approached for investment, mentoring and guidance. This company was also sold off to WNS, for $65 million where only half a million dollars were invested in this business without venture capital funding. Then Ganesh again started his own business with TutorVista in 2006 which was bought out completely by Pearson for Rs. 1000 crore. His multiple hits have led him to be where he is, but that isn’t without the missus by his side. When the the last acquisition happened, Ganesh and Meena decided to take the hard road and continue their entrepreneurship journey albeit this time, differently. "Only 5 per cent of start ups succeed and Ninety-five per cent end up failing. I see still young entrepreneurs after starting a company against all the odds. I'm addicted to fueling that until I can," says Krishnan when asked about why his family still makes risky businesses instead of just ‘settling down’. 

 

 

 

 

 

 

 

 

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The Perfect Pairing When it comes to Meena and Krishnan Ganesh, their complementary skill sets have given fuel to the train that is Growth Story. Professionally, Meena is more lauded as the CEO of <keyword id="6398216" type="COMPANY" weightage="20" keywordseo="Tesco">Tesco</keyword>,No.2 at <keyword id="10387" type="CITY" weightage="20" keywordseo="Microsoft">Microsoft</keyword> and now CEO at Portea, but Ganesh is the visonary that knows they can achieve so much together. As co-founders and life partners, they know that team work is the key to making a venture start and keep it running.

Exclusive: K. Ganesh Made BigBasket and Portea Medical Blockbusters in India, and This is his Unique Life-story

<img class="gwt-Image" src="/photo/47119878.cms" /> 
Giving a whole new makeover to how education is being imparted in India, a few educational startups are bringing a revolution in this arena. Teaming education with most advanced technology, school children are no more feeling reluctant to attend school. 
 As per a news report by The Economic Times, these startups in the education sector that happen to be in the right sector at the right time, as infrastructure - high-speed internet connectivity, cloud-based software, advanced analytics capability, and smartphones and tablets - now exist to support newer education formats for an attention-deficit and highly competitive generation Y. The complex kindergarten-to-class 12, or K-12, segment isn't without deterrents, but it's not easy for education entrepreneurs to resist the potential to address India's more than 250 million school students, larger than the populations of the United Kingdom, South <keyword id="12925" type="ENTERTAINMENT" weightage="20" keywordseo="Africa">Africa</keyword> and <keyword id="6355311" type="COUNTRY" weightage="20" keywordseo="Japan">Japan</keyword> put together. 
 A <keyword id="110686" type="POSITION" weightage="20" keywordseo="school-teacher">school teacher</keyword>, Latha Selvan, said her students are more attentive in class and do their homework because otherwise they don't get to play. The games reinforce classroom learning. So instead of merely learning about fractions on paper, the students experiment with the concept online: Pour water in a bucket, fill it to three-fourths, empty the bucket a little, fill some, let the water spill. The games encourage the students to try, make mistakes, and correct themselves. 
 
“There is a generational shift taking place in the student community - the way the current generation lives their life, thinks, engages and spends their time - which has not happened over the last three generations," K Ganesh, one of India's most successful education entrepreneurs, who sold his online tutoring company Tutorvista to British firm Pearson for over Rs 1269 crore ($200 million) two years ago told the ET. 
 "The next 25 years will be the golden era of education," he said. Education startups are teaching students the way they like to be taught: in small, byte-sized, 10-minute videos that can be watched on the go; fostering peer-to-peer learning through games or quizzes; and providing customised training, among other things. In doing so, they are able to engage and retain students' attention far more effectively than early e-learning firms such as <keyword id="705347" type="ORGANIZATION" weightage="20" keywordseo="Khan-Academy">Khan Academy</keyword> and Coursera, which continue to offer lengthy video lectures online. It’s not all glittery, though. For one, there exists a pervasive disconnect between the users of education products and the makers. Ajeet Khurana, former <keyword id="5645" type="POSITION" weightage="20" keywordseo="CEO">CEO</keyword> of <keyword id="61708" type="COMPANY" weightage="20" keywordseo="IIT-Bombay">IIT Bombay</keyword>'s Society for Innovation and <keyword id="107737" type="ORGANIZATION" weightage="20" keywordseo="Entrepreneurship">Entrepreneurship</keyword>, likens the current phase to the wave of commercial computer education in the 1980s. Almost anyone setting up a computer institute would make a profit. But most of these perished, and few like NIIT and Aptech survived as they delivered quality and content.

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