- Briefing Your roundup of Asian tech and startup news that matter
Kul Bhushan · · 1 min readVedantu denies report of acquisition talks with Byju’s
“According to two sources, India’s most valued startup [Byju’s] is now in talks with Vedantu for a potential acquisition,” Entrackr reported.
Details
- Byju’s is offering US$700 million to US$800 million to buy Vedantu, a real-time virtual learning platform. If the deal is finalized, it would be Byju’s eighth acquisition in 2021.
- Vedantu has reportedly been in talks to raise more capital in a fresh round that could value the firm at nearly US$1 billion, Entrackr reported. However, the sources added that fundraising plans have taken a backseat following the offer from Byju’s.
- Vedantu co-founder and chief executive Vamsi Krishna told Techcrunch that the report of an acquisition or merger is “absolutely 100% inaccurate.”
Dive deeper
- Byju’s has been on an acquisition spree for quite some time. Last month, the edtech major acquired Singapore-based edtech firm Great Learning for US$600 million. It also took over Toppr, an after-school learning platform based in India, for another US$150 million.
- Vedantu has raised US$190.9 million in funding since it was founded in 2011. The company has also acquired two companies – Pedagogy and Instasolv – in 2021.
Editing by Miguel Cordon and Arpit Nayak
(And yes, we’re serious about ethics and transparency. More information here.)
