Manish Singh / TechCrunch:
Indian edtech giant Byju’s plans to lay off 5% of its workforce, or around 2,500 people, in a bid to achieve profitability by 2023 — Indian edtech giant Byju’s said on Wednesday it has eliminated 5% of its workforce, or about 2,500 roles, across multiple departments as it looks to improve …
Manish Singh / TechCrunch:
Indian edtech startup Unacademy cuts 350 jobs, or 10% of its workforce, in its second round of layoffs this year after cutting 1,000 roles in April 2022 — Unacademy has eliminated 10% of its workforce, or about 350 roles, in its second round of layoffs this year as the Indian edtech warns of harsh economic conditions.
Pradip K. Saha / The Morning Context:
Sources: Byju’s plans to layoff about 12,000 people, or nearly 25% of its workforce, over the next year; Byju’s denies the number of job cuts is more than 2,500 — Byju’s, India’s largest education technology company, with a valuation north of $22 billion, plans to lay off about 12,000 people …
Manish Singh / TechCrunch:
Byju’s raised $250M in new funding as the market downturn delays its IPO; a source says the valuation was $22B, the same as when it raised $800M in March 2022 — Byju’s said it has raised $250 million in new funding from existing backers as the Indian edtech giant looks to navigate …
Moneycontrol:
Prosus valued its 9.67% stake in Byju’s at $578M at the end of Q3 2022, implying Byju’s total value to be $5.9B; Byju’s was valued at $22B in October 2022 — Although Prosus’ accounting entry implies that it values Byju’s at $5.9 billion, experts say that different shareholders may value a private company differently in their books.
Annie Palmer / CNBC:
Amazon pauses hiring for roles in its corporate workforce after announcing last month that it would freeze hiring for corporate roles in its retail business — KEY POINTS — Amazon is pausing hiring for roles in its corporate workforce, the company announced in a memo to staff Thursday.
Manish Singh / TechCrunch:
Byju’s has missed its own deadlines to file audited financials for the year ending March 2021 by nearly 18 months; Indian government demands an explanation — It took Byju’s 10 years to become India’s most valuable startup, expanding its empire of online learning apps to many markets including …
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