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BYJU’S in talks to go public via SPAC at $48B valuation: Sources

BYJU’S is in advanced discussions for a public listing in the US in partnership with Michael Klein’s special purpose acquisition company (SPAC) that could value the Indian edtech giant at $48 billion, sources said.

Advanced discussions are ongoing with Churchill Capital’s SPAC about the deal that could be completed in the next few months, sources close to the development said.

They added that BYJU’S — the most valued edtech startup in India — would raise about $4 billion at a valuation of about $48 billion.

Adda247 acquires UPSC test prep platform Study IQ Education for $20M

Leading online learning platform for central/state government jobs, Adda247 has acquired UPSC-focused edtech platform Study IQ Education for approx $20 million (around Rs 150 crore) in a cash and stock deal.

StudyIQ education claims to be India’s largest edtech platform targeted around UPSC and State PSC segment. As of now, the platform has an organic subscriber base of more than 11 million and gets close to 100 million views a month. Its gross revenue for FY 2020-2021 was Rs 33 crore with a growth of 3x over the previous financial year.

Cuemath strengthens leadership team with new appointments ahead of next growth phase

Math tutoring platform CueMath announces several new senior appointments as it continues the reorganization of its leadership team.

The company has appointed Samir Kulshresth as CFO, Nisha Popli as CHRO, Janardan Singh as Chief of Sales, and Anushray Gupta as Chief Product and Technology Officer. Samir and Nisha have joined Cuemath already, with Janardan and Anushray’s appointments effective from January 2022. All the new hires will report to Vivek Sunder, who was newly appointed as CEO in October.

According to the company statement, these key leadership appointments are critical to driving Cuemath’s international expansion, as it aims to double the number of students on its platform in 2022.

Paytail launches all-in-one QR code for partner merchants

Paytail, an active and fast-growing player in the offline BNPL market, has launched an all-in-One QR code for all the partner merchant stores.

With this QR code, merchants can offer zero-Cost EMIs on all their products irrespective of subventions from the brands. They would also receive the payment settlement instantaneously against the current delays these stores face from legacy players. Additionally, for shoppers, the ‘Scan and Pay’ feature in the application allows converting any transaction with partner stores into a zero-cost EMI.

Paytail is also planning a ‘Premium Re-Seller Programme’ in the coming months. The initiative is focused on dishing out more freebies for key merchants who sign-up for the program to help them convert more buyers.