Competition
WhiteHat Jr revenue crosses Rs 16 Cr in FY20, losses surge over Rs 53 Credit
Entrackr – Online Web
Edtech decacorn Byju’s has been in the headlines for the last few weeks for back-to-back acquisitions. The company has recently taken over Scholr while it is close to acquiring Toppr and Aakash Educational Services. But the deal which started it off was the $300 million worth acquisition of WhiteHat Jr in August last year.WhiteHat Jr’s acquisition by Byju’s was one of the largest merger and acquisition deals in the Indian startup ecosystem in 2020. While there could be several merits behind the acquisition, WhiteHat Jr’s consistent growth and $150 million annual run rate or ARR in a few months of FY21 appeared to have triggered Byju’s appetite.
Industry
Interactive Educational Apps Based on Storytellingedit
The Tech Panda – Online Web
This Hungarian EdTech startup, BOOKR Kids, is creating educational apps based on storytelling. 2020 has been the year of EdTech. Educators and students have become more reliant on technology than ever before. With the transition to this learning environment, there is a surge in the number of EdTech companies.
Indian startups: Startups tap new investors amid uncertainty on China FDIedit
The Times of India – Online Web
Apart from the early to midstage startups, strategic investors such as Alibaba and Tencent own shares in large internet firms like Paytm, Bigbasket, Zomato, Policybazaar, Swiggy, Udaan, and Byju’s, among others Cashify, where Chinese investors such as Shunwei Capital, CDH Investments, Morningside hold over 3032% stake, has raised over $15 million from one single investorOlympus Capital with no participation from Chinese investors
Razorpay announces $10million ESOP buybackedit
Money Control – Online Web
For years, ESOPs have been a rare source of wealth-creation at startups due to lack of exits but over the last 18 months, many firms have been gone for buybacks, rewarding reward employee loyalty. These include Unacademy, Zerodha, Cars24, and Urban Company. The buyback was the company’s way of giving back to the employees for their contribution and a form of wealth creation for all to ensure that the employees, too, grow with the company.
Cyber attack: ‘Reasons for startups’ data breaches go beyond lack of focus on securing apps, websites’edit
The Financial Express – Online Web
India’s technology ecosystem is growing at a massive rate. Home-grown startups are going global and global giants are coming to India to build for the next over 500 million users which are supposed to connect to the internet in the coming years. India is one of the most talked-about technology ecosystems in the post-COVID world as 2020 clearly saw some rebellion against China. While all these great developments are happening, hackers are also becoming more and more interested in the data of Indian consumers. 2020 saw a series of data breaches on Indian startups. Unacademy, one of the most talked-about revolutionary startups in the tech industry faced a breach causing a ...