The downfall of Byju's, once a $22 billion giant and India's leading edtech startup, has sent ripples across the tech industry, triggering caution among venture capital (VC) and private equity (PE) funds. This has let to a persistently challenging market, Jeff Maggioncalda, chief executive officer of US-based edtech firm Coursera, said in an interview with Mint.
"How the Byju's crash affected the overall edtech industry depends on the stage each company is at, and where in edtech it caters to. Edtech in India and China are not looking good these days. China had their policy changes, and India has had challenges, too. From during the covid-19 pandemic and now, financing went from as much money as one could ask for at incredibly high valuation, to much higher conservatism," Maggioncalda said.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
A counterintuitive view on education
A book about Shomie Das, principal of three posh schools, serves as a rich distillation of his thoughts on education
The loss of sound in our noisy lives
Sound memory fades faster than visual memory. In a world as rapidly changing as ours, a museum of endangered sounds makes sense
A whole new League
When Arcane first dropped on Netflix, it didn't just break the mold for animated television—it shattered it into shiny fragments, each as intricate as the show's hand-painted aesthetic.
When pets get cancer
Advances in veterinary sciences have enabled several treatments, but early detection can make all the difference
Reduction of energy costs in the telecom sector
With telecom infrastructure companies looking for newer ways to cut back on energy costs, battery restoration technology provides telecom infrastructure firms with a viable, economical and green solution for uninterrupted power supply
Skip cheese and sip wine in Switzerland
Beyond chocolates and cheese, there's another Swiss gem to discover — vineyards that have been passed down through the generations
Bankers aren't always frank about bank regulation
The 'world's banker' Jamie Dimon, CEO of JPMorgan Chase, speaks his mind even if it means taking swipes at US regulators.
Baku: A climate breakthrough looks depressingly bleak today
The success of fossil fuel-favouring politics threatens the planet
Global solidarity levies can play a vital role in our climate efforts
Solidarity taxes could support redistributive measures and optimize how we collectively tackle a great challenge of our times
Speak for the Earth: It's the least we should do
This year's Booker prize winner turns our gaze to the planet from orbit and reminds us of the climate disaster that looms. Can odes sung to Earth move the world to act in its defence?
