India’s Vedantu not in talks to sell to Byju’s, top exec says
Indian online learning platform Vedantu is not in talks to sell the firm to edtech giant Byju’s, a top executive said on Friday.
A report on Friday by Indian news outlet Entrackr said 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.”
Byju’s, which has acquired over half a dozen startups, declined to comment.
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.
The startup did reach out to both Unacademy and Vedantu last year and offered them both roughly $1 billion, according to four people familiar with the matter. But Byju’s and Vedantu haven’t re-engaged this year, two 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 added.
Indian online learning platform Vedantu is not in talks to sell the firm to edtech giant Byju’s, a top executive said on Friday. A report on Friday by Indian news outlet Entrackr said Byju’s had offered $700 million to $800 million to acquire Bangalore-based Vedantu, which counts Accel and GGV…
