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Live online learning platform <keyword id="2016957" type="General" weightage="20" keywordseo="vedantu" source="Orion">Vedantu</keyword> on Thursday launched an immersive live platform -- W.A.V.E 2.0 (Whiteboard Audio Video Environment) -- to set new standards for online classes. The company said that the patented technology will redefine the learning experience and performance recognition at a whole new level. "We are determined to provide the best education for students with our patented technology. This is also our attempt to reimagine how an online class can be. W.A.V.E 2.0 is setting new standards and striving towards better quality online classes," Vamsi Krishna, CEO &amp; Co-Founder, of Vedantu said in a statement. The 2.0 version of the W.A.V.E learning platform, envisions inspiring every child and making quality education accessible, and creating an impact at scale in India. "Since its inception, W.A.V.E has been used by over 4,000 teachers to teach 24 million students for 70 million hours. And these students came from over 7,300 cities and towns, that's almost 92 per cent of the total cities and towns in India," Krishna said. "With W.A.V.E 2.0, we want to create a learning experience that sparks curiosity and makes a student more immersed in the entire learning process. We are setting a new benchmark for the future of online classes while optimising bandwidth enabling millions more, who can access quality education," Krishna added. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/finance/banks/news/axis-bank-may-soon-become-the-third-largest-credit-card-player-after-hdfc-bank-and-sbi-post-the-citibank-deal/articleshow/90563751.cms">Axis Bank may soon become the third largest credit card player after HDFC Bank and SBI post the Citibank deal</a> <a href="https://www.businessinsider.in/business/news/mukesh-ambani-and-gautam-adanis-net-worth-is-now-more-than-100-billion/articleshow/90564692.cms">Mukesh Ambani and Gautam Adani are now worth more than $100 billion</a> <a href="https://www.businessinsider.in/tech/news/dysons-new-headphones-with-an-air-purifier-bank-on-peoples-masking-habits/articleshow/90561834.cms">Dyson's new headphones with an air purifier bank on people’s masking habits</a>

Vedantu launches live platform to transform online classes

<ul><li>Online education platform <keyword id="2016957" type="General" weightage="20" keywordseo="vedantu" source="Orion">Vedantu</keyword> is now looking to experiment with a hybrid model in order to enhance its presence.</li><li>Not just Vedantu, other edtech unicorns like <keyword id="3123019" type="General" weightage="20" keywordseo="byjus" source="Orion">Byju’s</keyword> and <keyword id="6630114" type="General" weightage="20" keywordseo="unacademy" source="Orion">Unacademy</keyword> are also experimenting with a hybrid model.</li><li>Vedantu is also looking to expand its presence internationally by entering new markets.</li></ul>Online education platform Vedantu — which was India’s fourth billion dollar edtech firm — is now looking to experiment with a hybrid model in order to enhance its presence. The company’s founder and chief executive officer (CEO) Vamsi Krishna, in an interaction with Business Insider, revealed that these offline centres will be like a learning centre. The company is still at an early stage with the plan and are currently brainstorming effective ways on how to take it forward. “Since now the offline [sic] has also opened up, we are also exploring interesting options around hybrid models and stuff like that. Those are still in the experimental stage and we will see where we will land up with that… Imagine a centre offline where the child goes but there is a lot of technology and they can study in the [sic] combination of online and offline,” Krishna added. Not just Vedantu, other edtech unicorns like Byju’s and Unacademy are also experimenting with a hybrid model. Unacademy launched its first offline centres last month. These stores are more like an experience centre for learners who want to experience and browse through the various platform offerings. Byju’s anyway got access to Aakash's network of over 250 offline centres when it <a href="https://www.businessinsider.in/business/news/byjus-closes-its-deal-with-aakash-educational-services-for-nearly-1-billion/articleshow/81912772.cms">acquired the company in 2021</a> for a billion dollars. It has now decided to open 500 physical tuition centres across 200 cities in 2022. Notably, Byju’s had started off with offline education centres and later entered the online space in 2011. Vedantu is also looking to expand its presence internationally. The company has also started its operations in the Middle East and is currently exploring other markets as well. “We still don’t have an exact location in mind…” he added. Besides this, the company’s growth strategies for 2022 includes building more affordable products and adding more vernacular languages in the mix to reach out to a wider set of audience. Founded by Vamsi Krishna, Pulkit Jain, Anand Prakash and Saurabh Saxena in 2014, Vedantu is an interactive online tutoring platform that focuses on K12 (kindergarten to grade 12 learning) and test preparation segment. It claims it has more than 35 million users every month from over 10,000 cities and over 50 countries that access free content, tests, doubts, videos on Vedantu's platform, and its channels on YouTube. Vedantu on Thursday<a href="https://www.businessinsider.in/business/startups/news/vedantu-launches-live-platform-to-transform-online-classes/articleshow/90568838.cms"> launched</a> an immersive live platform W.A.V.E 2.0 (Whiteboard Audio Video Environment), which looks to enable online learning for kids while focusing on student interaction as well. The technology includes features such as digital notebook, 3D learning feature to understand complex diagrams, multi-teacher mode and digital report cards, augmented reality filters, on stage appreciation and more. Krishna confirmed that the company does have the option to lend the technology to other platforms and institutions, however, it does not want to get into products-as-a-service (PaaS) offering at the moment. It wants to use the technology to further enhance their own online learning platforms. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/business/news/crude-oil-price-on-a-falling-spree-as-us-to-release-emergency-oil-reserve/articleshow/90582811.cms">Crude oil price on a falling spree as US to release emergency oil reserve to control energy costs</a> <a href="https://www.businessinsider.in/business/news/yatra-coms-biggest-source-of-revenue-is-also-its-biggest-risk/articleshow/90570455.cms">Yatra.com’s biggest source of revenue is also its biggest risk</a> <a href="https://www.businessinsider.in/investment/news/these-nft-courses-offer-everything-you-need-to-know-to-deep-dive-into-the-world-of-digital-assets/articleshow/90571469.cms">These NFT courses offer everything you need to know to deep-dive into the world of digital assets</a>

Exclusive: After Byju’s and Unacademy, Vedantu is looking to start offline centres

Another <keyword id="1464841" type="General" weightage="80" keywordseo="edtech" source="Orion">edtech</keyword> startup <keyword id="4248184" type="General" weightage="100" keywordseo="udayy" source="Orion">Udayy</keyword>, backed by <keyword id="80004" type="General" weightage="50" keywordseo="info-edge" source="Orion">Info Edge</keyword>, has shut shop, laying off all 100 employees as schools, colleges and physical tuition centres reopen. Udayy's co-founder <keyword id="6553566" type="General" weightage="50" keywordseo="saumya-yadav" source="Orion">Saumya Yadav</keyword> said that the startup was witnessing the post-pandemic world for the first time as "as the kids went back to school, we faced roadblocks in growing the original model of online, live learning". "After a lot of deliberation, we decided that it's better to shut down the business than to spend more time and capital on it,a Yadav said. The development was first reported by startup news coverage portal Entrackr. The startup has paid employees severance packages and helped them find new jobs. "We are returning the remaining capital, around $8.5 million back to our investors," Yadav was quoted as saying in media reports. The live-learning platform catered to students from Grades 1 to 5. The platform raised $2.5 million in a seed funding round led by Alpha Wave Incubation (AWI), managed by <keyword id="4675626" type="General" weightage="50" keywordseo="falcon-edge-capital" source="Orion">Falcon Edge Capital</keyword> and <keyword id="12772224" type="General" weightage="50" keywordseo="infoedge-ventures" source="Orion">InfoEdge Ventures</keyword>. Udayy is the second edtech startup after Lido Learning to completely shut operations. Led by the edtech platforms, over 8,000 start-up employees have been recently hit by layoffs In India. This includes more than 1,000 employees at WhiteHat Jr, over 600 at Unacademy, over 424 at Vedantu and over 150 at Lido Learning. Another edtech firm FrontRow laid off nearly 150 full-time and contractual employees earlier this week. The Bengaluru-based non-academic upskilling startup fired almost 30 per cent of its workforce, owing to fund crunch and the market downturn. Apart from edtech firms, startups that have laid off employees in the past few months include social commerce platforms Trell (more than 300) and Meesho (150), used cars platform Cars24 (More than 600) and digital health platform Mfine (more than 500), among others.

Edtech startup 'Udayy' lays off all 100 employees as schools, and colleges physically reopen

<ul><li><keyword id="3395125" type="General" weightage="20" keywordseo="cuemath" source="Orion">Cuemath</keyword> has raised $57 million from Alpha Wave Global, at a valuation of $407 million.</li><li>The <keyword id="1464841" type="General" weightage="20" keywordseo="edtech" source="Orion">edtech</keyword> startup provides after-school learning programmes for mathematics.</li><li>The Indian edtech firms are expected to face a downwards trend in the near future as schools have reopened.</li></ul>Even as experts expect the edtech industry to take a downward trajectory in the near future, Google-backed math learning startup Cuemath has raised $57 million. The round was led by Alpha Wave Global at a valuation of $407 million, representing more than 2x jump. Existing investors Lightrock India, Sequoia Capital India, Alphabet independent growth fund CapitalG, Manta Ray, and Unitus also participated in the round. The company plans to use the new capital to strengthen its product-pedagogy outcomes, hypergrowth initiatives, acquisition and partnerships. “Cuemath’s latest fundraise is a significant feat given the present industry trends. Valuations have become more realistic with rationalization hitting the market; only those growth-stage startups with solid business fundamentals can now establish trust with VCs," Vivek Sunder, chief executive officer (CEO) of Cuemath, said. Cuemath was founded in 2013 by Manan Khurma and Jagjit Khurma. The edtech startup — the company which has presence in over 70 countries — provides after-school learning programmes for mathematics for Kindergarten to 12th grade. Cuemath, which has raised over $100 million till date, had appointed former Swiggy’s chief operating officer Vivek Sunder as its CEO in 2021. <cmsannotation type="cmsannotation" annotationid="Indian edtech companies staring at a downward trend, say experts" comment="subhead" text="Indian edtech companies staring at a downward trend, say experts">Indian edtech companies staring at a downward trend, say experts</cmsannotation> According to several <a href="https://www.businessinsider.in/business/startups/news/the-edtech-bubble-is-bursting-as-schools-colleges-reopen-and-funds-dry-up/articleshow/91826696.cms">experts and investors Business Insiders</a> spoke to, the Indian edtech firms are expected to face a downwards trend in the near future as schools have reopened. According to a survey by the Ministry of Education, 80% of students found remote learning ‘burdensome’ and also missed their peers. This changing attitude could slow down acquisition of new customers and also threatens the existing base who might shift to an offline mode. “Edtech has received massive traction in terms of funding over the last 2 years, however the ability to create retention on products built by some of them is not promising,” Neha Khanna, director at management consultancy firm ValPro, told Business Insider India. “In such a scenario, it increasingly becomes expensive to acquire a customer given the competitive landscape and the value ascribed to each customer may not be commensurate with such acquisition costs,” she added. The edtech industry is also expected to be the biggest source of layoffs in the Indian startup ecosystem. So far, edtech companies like Unacademy, Vedantu and Front Row have already laid off about 1,700 people. SEE ALSO <a href="http://www.businessinsider.in/business/startups/news/this-startup-which-makes-satellite-launches-cheaper-and-faster-raises-funds-to-start-commercial-operations/articleshow/91937856.cms" data-type="tilCustomLink">This startup which makes satellite launches cheaper and faster raises funds to start commercial operations</a> <a class="tout-title-link" href="https://www.businessinsider.in/business/telecom/news/mukesh-ambanis-jio-lags-behind-airtel-which-is-the-top-telecom-brand-in-india/articleshow/91935279.cms">Mukesh Ambani's Jio lags behind Airtel which is the top telecom brand in India</a> <a href="http://www.businessinsider.in/business/corporates/news/zomato-paytm-nykaa-and-others-spent-6000-crore-on-their-employees-last-year/articleshow/91931970.cms" data-type="tilCustomLink">Zomato, Paytm, Nykaa and others spent ₹6,000 crore on their employees last year</a>

Google-backed Cuemath valued at $407 million as experts expect edtech slump

<ul><li>The tech industry has seen more than 200,000 <keyword id="6357067" type="General" weightage="100" keywordseo="layoffs" source="Orion">layoffs</keyword> since the start of 2022.</li><li>Instead of performance, the focus for layoffs is more on eliminating redundant roles that no longer add a major value to the organization.</li><li>Some of the red flags an employee should look out for are a decrease in hiring, budget cuts and changes in management.</li></ul>Bipin Singh, a business development manager at Byju’s with over 11 years experience in the EdTech industry was laid off last month after a stint of 1.5 years at the company. In his LinkedIn post he mentioned about the layoff and urged everyone to reach out to him with job offers or if not, like share and comment on his post to increase reach. Anil <keyword id="906861" type="General" weightage="50" keywordseo="sahani" source="Orion">Sahani</keyword>, a software engineer, lost his job in Accenture recently .“I was one of the first ones to let go as I was a contract employee and also did not have any notice period. The layoffs are still on.” Singh and Sahani are among the thousands of employees who have been affected by tech layoffs in India. Google trend data, which reflects what people search for, shows that between January 22-28 this year, the term ‘layoff’ was at its peak popularity of 100, while between January 23 to January 29 last year, it was just at five. This is not surprising because layoffs are being reported majorly in the media and almost every other post on Linkedin is talking about layoffs. It all started with the news that the big tech giants like Amazon and Google parent Alphabet were laying off in large numbers. While Alphabet laid off 12,000 people, the Amazon layoffs affected more than 18,000 people. Microsoft said it will lay off 10,000 people by the end of the third quarter of 2023 and even SAP and IBM have started laying off employees. It seems it is almost like a contagion that is spreading rapidly like wildfire. The Indian situation: Which brings us to the question: Is the situation as bad in India? Layoffs are now a reality in India too. Reports suggest that around 21,000 techies have lost their jobs in the last three to four months. In the third week of January, Wipro fired more than 400 freshers for failing performance tests. While Amazon has laid off 1,000 of its employees in India, IBM and SAP are also laying off employees, affecting their employees in India as well. Very recently, Byju’s laid off 1,000 people, in a second round of layoffs in February. Sivaprasad N, vice president &amp; business head, TeamLease Digital, a staffing solutions company, puts the number of layoffs in the tech industry at more than 2,00,000 since 2022. Over 21,000 employees <a href="https://www.businessinsider.in/business/news/70-plus-indian-startups-show-exit-door-to-21k-techies-more-pink-slips-coming/articleshow/97411761.cms?">have been laid off </a>by 70 startups in the past 3-4 months including from unicorns like BYJU'S, <keyword id="6354720" type="General" weightage="50" keywordseo="ola" source="Orion">Ola</keyword>, MPL, Innovaccer, Unacademy, Vedantu, Cars24, OYO, Meesho, Udaan and many more. Anuj Gupta, who has over 10 years of experience in SEO, has lost his job in edtech company upGrad and is a part of the current tech and marketing layoff wave. The layoff situation in India is currently more of a spill-over effect of shake-ups in the West. Unlike the funding winter that hit the Indian funded tech startups cohort in 2022, the current layoffs by big labels are largely corrective talent adjustments. “Despite potential opportunities coming our way due to global shakeups, it is prudent for India Inc. to treat the current layoffs as a tip of the iceberg,” says <keyword id="138078" type="General" weightage="50" keywordseo="kamal-karanth" source="Orion">Kamal Karanth</keyword>, CoFounder, Xpheno, a specialist staffing company. He adds that enterprises, especially in tech, will benefit from remaining alert and conservative on costs for at least two quarters. Agrees Sivaprasad, “Companies are battling a slowdown in demand after a hiring frenzy. No company is certain to avoid significant cutbacks in such an economic environment. We are witnessing a significant drop in tech hiring unlike previous years as companies are only doing selective hiring for critical projects. It looks like the trend will continue for some time.” Many IT majors have announced mass layoffs in the last couple of months, quoting factors like overhiring, an impending recession and geopolitical conflicts. “We expect businesses to exhibit caution in hiring and workforce management through a major part of 2023,” <keyword id="13896318" type="General" weightage="50" keywordseo="sachin-alug" source="Orion">Sachin Alug</keyword>, CEO, NLB Services - a global technology &amp; digital talent solutions company. Delhi-based Pankaj Kumar, laid off from a software company this month, says that one day he got a message saying that the company was restructuring and that it was his last day. “However, we were forced to resign and also we received very little in the name of assistance as promised.” Kumar feels that most startups today have no clue about manpower requirements and just hire to show their investors that they are doing well without having an idea of how they can sustain themselves in crucial times. Tech jobs have been the most affected: As discussed, tech companies, especially IT firms, are very vulnerable to an impending recession in the US. “The tech sector has always been highly sensitive to economic cycles, and the current economic downturn could have a significant impact on these companies. A recession could lead to decreased consumer spending, reduced corporate investment, and layoffs, which could all hit tech companies hard,” says <keyword id="328697" type="General" weightage="50" keywordseo="sandeep-budhiraja" source="Orion">Sandeep Budhiraja</keyword>, Co-founder, Executive Director and Chief People Officer - BYLD Group which provides HR and Business productivity solutions, Additionally, the US market is a major source of revenue for many tech companies, so a recession here could have a widespread impact on global operations. Finally, any disruption to the global supply chain could further disrupt tech companies, as many rely on components and materials sourced from around the world. “The sectors that may be most affected, other than the technology, are telecommunications, financial services and retail. The telecommunications sector could be hit by reduced investment in infrastructure and lower customer demand. The financial services sector could be adversely affected by a decrease in credit availability and tightened lending standards, while the retail sector could suffer from decreased consumer spending,” adds Budhiraja. Everyone is vulnerable: “Instead of performance, the focus for layoffs is more on eliminating redundant roles that no longer add major value to the organization. Usually, mass layoffs affect employees invariably regardless of their performance but in organizations that choose to let go of a selected few, performers at a certain level tend to be the target,” says Alug. The primary causes of layoffs are the foreseeable recession and the geopolitical scenario which have led to inflation, impacting many industries. Prominent players in the IT and Technology domain are being cautious to ensure profitability and better predictability of business. Agrees Karanth, “The larger layoffs related to enterprise strategy and austerity are mostly across the ranks and ratings of performance. Such layoffs related to macroeconomic movements are typically steamrollers on entire divisions, geographies and business units. While each enterprise has their own pattern of priority on the layoffs, the high cost and high volume headcounts typically come under the lens faster.” Look out for red flags: “Layoffs in a situation like now are largely written on the wall. It is often the speed and style of a layoff that's a surprise to talent, and not the layoff by itself,” says Karanth. Some of the red flags an employee should look out for are a decrease in hiring, budget cuts and changes in management. “Additionally, if a company is reducing or eliminating certain departments or projects, it may be a sign that layoffs are coming. If there are rumours of layoffs or if employees are being asked to take unpaid leave, this could also be a sign that layoffs are imminent. Finally, if the company is not meeting its financial goals or is experiencing a downturn in business, layoffs may be a possibility,” says Alug. Hiring remains slow: “Many of those who lost their jobs are still looking for work, as nearly every major corporation has put a freeze on new hiring due to global macroeconomic conditions and recession fears. We are witnessing a significant drop in tech hiring unlike previous years as companies are only doing selective hiring for critical projects. Looks like the trend would continue for some time,” says Sivaprasad. However Karanth feels that while tech hiring has slowed down, there are opportunities for talent who are flexible and agile to look beyond their domain. The non-tech sector's talent demand has been compensating well for tech's hiring slowdown. <keyword id="2838370" type="General" weightage="50" keywordseo="shraddha-jain" source="Orion">Shraddha Jain</keyword>, who is also known as 'Aiyyo Shraddha' on social media, posted a hilarious video on Instagram, where she slammed companies for laying off employees despite making a profit. "At the company offsite, we celebrated the company tripling its profit in a year. What happened? A month later we are so poor. Who robbed us?" she asked. While these are questions that reflect the grim reality of large scale layoffs, employees should brace themselves for tough times ahead. 2023 will be a turbulent ride.

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Vedantu launches live platform to transform online classes

IANS

Exclusive: After Byju’s and Unacademy, Vedantu is looking to start offline centres

Kritti Bhalla

Edtech startup 'Udayy' lays off all 100 employees as schools, and colleges physically reopen

IANS

Google-backed Cuemath valued at $407 million as experts expect edtech slump

Kritti Bhalla

Tech layoffs to continue for sometime thanks to a slowdown in demand and an uncertain economic environment

Anagh Pal

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