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News on Medial
Not in dire need: PhysicsWallah Co-founder on fundraising plans
Inshorts
·
2y ago
Medial
According to Prateek Maheshwari, Co-founder of PhysicsWallah, the edtech startup is not in urgent need of funds as it generates its own cash flow. He further mentioned that there are no current plans to raise capital this year. PhysicsWallah has demonstrated profitability for three consecutive years and anticipates maintaining its profitable status in the fiscal year 2024.
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upGrad’s Mayank Kumar quits as edtech consortium chairperson, PhysicsWallah's Maheshwari to take over
Money Control
·
1y ago
Medial
Mayank Kumar, the co-founder and managing director of upGrad, is stepping down from his role as the chairperson of the India Edtech Consortium (IEC), a self-regulatory body aimed at resolving consumer complaints in the edtech industry. Kumar cited a desire to focus more on operations at upGrad as the reason for his decision. Prateek Maheshwari, co-founder of PhysicsWallah, will replace Kumar as the chairperson. The IEC was formed in 2022 and claims to represent 95% of the Indian learner community.
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Grapevine: GIC taps market to offload stake in green player; PhysicsWallah hires i-banks for IPO
VCCircle
·
10m ago
Medial
- GIC considers selling 50% stake in Indian renewables company Greenko Energy Holdings - GIC has initiated discussions with financial advisers for potential sale - PhysicsWallah, co-founded by Prateek Maheshwari, hires investment banks for IPO - Singapore's sovereign wealth fund explores options for reducing stake in Greenko Energy Holdings - PhysicsWallah, an Indian edtech startup, takes steps towards going public with IPO plans - GIC in talks with advisors for potential full or partial sale of stake in Greenko Energy Holdings
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Exclusive: PhysicsWallah converts to public entity ahead of 2025 IPO
Entrackr
·
7m ago
Medial
Edtech unicorn PhysicsWallah is gearing up for a definitive initial public offering (IPO) plan in 2025, taking its first major step toward public listing by converting into a public entity. The board at PhysicsWallah has approved a resolution to change its status to a public company and rename it from PhysicsWallah Private Limited to PhysicsWallah Limited, as per its regulatory filing. As part of this move, PhysicsWallah plans to list its equity shares on one or more stock exchanges. While the company hasn’t given any timeline, it’s expected to list on the stock exchanges in the second half of 2025.
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YouTube, Unicorn, $500-Million IPO: PhysicsWallah Founder Alakh Pandey's Rags to Riches Story
OutlookIndia
·
4m ago
Medial
PhysicsWallah, founded by Alakh Pandey, is a unicorn edtech startup in India poised to launch a $500 million IPO. Alakh Pandey, who dropped out of college to become a full-time tutor, created PhysicsWallah from modest beginnings, focusing on affordable education. The startup, co-founded with Prateek Maheshwari, has expanded into offline centers and amassed significant user engagement online. Despite facing edtech sector challenges, PhysicsWallah continues to grow while aiming for strategic acquisitions and broader market penetration.
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Aman Gupta urges Indian startups to focus on compliance
Inshorts
·
3m ago
Medial
Co-founder of boAt, Aman Gupta responded to the BluSmart crisis, emphasizing the need for compliance, ethics, and transparency in startups. Highlighting the emotional and financial impact, he stressed that clean governance builds sustainable businesses. Gupta encouraged the Indian startup ecosystem to focus not just on rapid growth but also on responsible and ethical foundations.
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Going After Deeper, Regional Audiences; Not Competing Directly With Threads, X: Koo Co-Founder
OutlookIndia
·
1y ago
Medial
Koo, the homegrown social media platform, is focusing on regional audiences with its language-based approach, according to co-founder Aprameya Radhakrishna. He highlighted Koo's presence in various languages, catering to audiences unfamiliar with platforms like Twitter or Meta's Threads. Radhakrishna mentioned that Koo is not directly competing with others, emphasizing its unique positioning. The platform had faced challenges including a workforce reduction and struggles in user growth and fundraising after gaining traction as a Twitter alternative in India.
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PhysicsWallah Cofounder Alakh Pandey’s Remuneration More Than Halves To INR 4.6 Cr In FY23
Inc42
·
1y ago
Medial
PhysicsWallah's co-founder, Alakh Pandey, received a remuneration of INR 4.57 Cr in FY23, indicating a decline in remuneration. The average founder salary increased by 69.7% to INR 5.77 Cr in FY23. PhysicsWallah reported a 91% decline in net profit to INR 8.9 Cr in FY23, primarily due to increased expenses. Its operating revenue rose by 234% to INR 779.3 Cr in the same period. The edtech startup has expanded its services, including offline education, upskilling programs, and acquisitions.
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Edtech unicorn PhysicsWallah receives SEBI nod for IPO
Entrackr
·
15d ago
Medial
Edtech unicorn PhysicsWallah receives SEBI nod for IPO Backed by investors including Lightspeed, WestBridge, Hornbill Capital, and GSV Ventures, PhysicsWallah has an estimated valuation of $2.8 billion. Edtech unicorn PhysicsWallah has received approval from the Securities and Exchange Board of India (SEBI) for its pre-IPO draft filing, clearing a major regulatory hurdle on its path to public markets. The Noida-based company submitted its draft under SEBI’s confidential route in March this year. With this approval, PhysicsWallah is set to raise around Rs 4,600 crore (about $533 million) through a mix of fresh issuance and an offer for sale, joining the pipeline of new-age tech firms eyeing the bourses in 2025. Backed by investors including Lightspeed, WestBridge, Hornbill Capital, and GSV Ventures, PhysicsWallah has an estimated valuation of $2.8 billion. It will also become the first edtech unicorn to hit the stock exchange. In March, the company inducted three independent directors to its board to align with public company norms and best practices. Last month, it also appointed Satish Sharma as Chief Marketing Officer to bolster its brand strategy and expansion plans. PhysicsWallah also completed its conversion to a public entity this year, a prerequisite for listing on the Indian stock exchanges. The move is part of the company’s broader strategy to institutionalize operations as it prepares for public scrutiny and capital market participation. While the company has yet to file its annual financial statements for FY25, it posted revenue of Rs 1,940.4 crore for FY24 with a loss of Rs 375 crore. The company has a deep focus on offline operations and expects to clock more than Rs 1,000 crore in revenue from this segment. It also plans to open more centres in both existing and new cities. The development comes at a time when the edtech sector is struggling in terms of fundraising and scaling. However, PhysicsWallah’s IPO will mark a significant milestone for the Indian edtech sector, potentially paving the way for more tech startups to test the public markets.
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IIT Varanasi graduate Satish Sharma joins PhysicsWallah as chief marketing officer
IndianStartupNews
·
22d ago
Medial
IIT Varanasi graduate Satish Sharma has been appointed as the Chief Marketing Officer of Edtech unicorn PhysicsWallah (PW). With over 20 years of experience in digital transformation and marketing, including co-founding Unyscape, Sharma will lead PW's brand and marketing strategy. His expertise is anticipated to bolster PW's effort to democratize education through a hybrid education ecosystem in India. Founder Alakh Pandey highlighted Sharma's blend of strategic clarity and operational excellence.
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ET Soonicorns Summit 2024: Reverse-flipping a trend, the future language of machines might be English, funding spring imminent, Karnataka’s booming startup ecosystem, and bridging the gender funding gap—morning wrap
Economic Times
·
10m ago
Medial
The ET Soonicorns Summit 2024 in Bengaluru featured various insightful sessions. BV Naidu, Chairman of Karnataka Digital Economy Mission, highlighted the thriving startup ecosystem in Bengaluru, which has produced 53 out of India's 115 unicorns. Hari Menon, Co-founder of BigBasket, discussed the growth of quick commerce, while Mayank Kumar, Co-founder and MD of upGrad, explored the future of machine learning and coding languages. Other panels addressed topics such as reverse-flipping startups, bridging the gender funding gap, and balancing regulatory issues in fintech. The summit continues with sessions on fundraising strategies.
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