Sunday, January 29, 2023
Outlook.com
Outlook India
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Byju S

Last year, the company launched 300 physical centres and planned a $210 million investment

GoMechanic joins the league of other Indian start-ups, including Byju's, BharatPe, Trell and Zilingo, that have been in the news for financial irregularities and shoddy corporate governance

Swiggy laid off 1,100 employees in May 2020, and fired another 350 July last year

The development comes against the backdrop of summons issued to the company by child rights body National Commission for Protection of Child Rights (NCPCR) over allegations that the edtech firm is indulging in malpractices to lure parents and children to buy...

While continual talks of layoffs won’t fit well for the narrative of India’s thriving start-hub ecosystem, increasing fundraising news will suggest that investors are confident about the sector’s potential

As per reports, the edtech's founder is seeking funds to finance his buyback plans

Amongst sectors, edtech has been hit brutally

The company will begin a new "affordability checks" service before selling education policies or providing loans

Defending itself on the allegation of mis-selling, Byju's said it does not encourage, order or incentivise its sales staff and managers to pursue customers who are uninterested in or unable to pay for its products

On Friday, NCPCR summoned Byju Raveendran, the CEO, over the allegations of malpractices conducted by the sales team.