Edtech giant Byju s has laid off around 1,000 employees across all departments as part of cost-cutting initiatives. However, the final headcount of the company remains around 50,000 because of the addition of new employees.
Byju s to Acquire Blackstone-Backed Aakash Educational Services for $1 Billion
Aakash Institute which has over 200 brick and mortar centers and tutors students have gained entry into the country s elite engineering and medical schools
| 14 Jan 2021 5:55 AM GMT
NEW DELHI: India s popular online-education startup- Byju s is all set to acquire brick & mortar test prep leader Aakash Educational Services Ltd. for $1 billion.
Byju s current market value is capped at $12 billion and due to the present pandemic situation globally, the online startup is aggressively looking at expanding as the demand of online classes has gone up since 2020.
According to Bloomberg, the deal which is said to be sealed in two or three months time will be one of the largest edtech acquisitions in the world.