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Vedantu News
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Deeksha is one of the leading K-12 test preparation players in Karnataka and according to Vedantu, this strategic partnership will further its hybrid education strategy.
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Vedantu, White Hat Jr, Lido Learning and Unacademy, among other startups, have laid off employees.
Vedantu has recently fired about 424 employees.
Lido Learning shut shop early this year.
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The CEO said in the email that the external macroeconomic environment currently is tough.
He cited situations such as the Russia-Ukraine war, recession fears, and Fed interest hikes.
Edtech startups such as Unacademy, Lido Learning, and WhiteHat Jr, among others.
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The edtech industry is facing turbulent times.
Edtech companies are witnessing a significant dip in the demand for online learning.
Companies are either shutting shop or cutting down on their budgets.
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Byju's is offering a USD 700-800 million deal to Vedantu, a report said.
Vedantu said: "This information is completely false and no such discussions have taken place with Byju's and we are not considering anything like this".
Vedantu had said it expects its revenue run rate to more than double to USD 200 million and hit profitability by June next year.
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