The government is planning to do away with the concept of ‘continuous consent for applications and digital services by making it mandatory for companies to obtain consent every time. Currently, such firms obtain consent only initially when a user signs up for the service, and then they continue to process the data as required. This and more in todays ETtech Morning Dispatch.
Byjus and its lenders have reached an agreement to lock in the new terms for the $1.2 billion term loan B by August 3, according to a statement from the steering committee of the lenders group – confirming ETtechs newsbreak from earlier on Monday.
Edtech unicorns in India go on an acquisition spree
Photographer: Xaume Olleros/Bloomberg
February 16, 2021
Edtech firm Byju’s is in advanced talks to acquire smaller rival online learning startup Toppr for about $150-160 million, a deal that could lead to further consolidation in the sector, said two people familiar with the development.
Both Byju’s and Toppr operate in the K-12 (Kindergarten to Class 12) learning space.
Edtech unicorns Byju’s and Unacademy, which got a shot in the arm due to the pandemic-led lockdown when learning went online, have been on an acquisition spree and continue to scout for strategic buyouts, after raising multiple rounds of funding last year.