vedantu news

Today in this startup era, startups are buying some startup every day.

Vedantu has clearly tweeted that this news that has come for accusation is a lie.

Here is the tweet of Vedantu’s official Twitter handle.

A report by Indian news outlet Entrackr said early Friday that Byju’s had offered $700 million to $800 million to acquire Bangalore-based Vedantu, which counts Accel and GGV Capital among its investors.

In a conversation with TechCrunch, Vedantu co-founder and chief executive Vamsi Krishna said any speculation around the firm engaging with Byju’s for an acquisition or merger is “absolutely 100% inaccurate.”

India’s most valuable startup, Byju’s, has held conversations with multiple education firms in recent quarters as the Bangalore-headquartered giant looks to expand its footprint and broaden its product offerings — by both organic and inorganic means.

The startup did reach out to both Unacademy and Vedantu last year and offered them both roughly $1 billion each, according to four people familiar with the matter. But Byju’s and Vedantu haven’t re-engaged this year, one of them said.

Vedantu is separately in advanced stages to close a new financing round that would value it at over $1 billion, two sources familiar with the matter told TechCrunch. The round is expected to close within weeks, they said.

Scores of young startups have cropped up in recent years to tap the education market in India, where more than 200 million individuals go to schools. Vedantu, Unacademy, and Byju’s lead the market and younger firms including Teachmint and Classplus have reported accelerate growth in recent quarters as more students adopt online learning platforms in light of the pandemic.

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