Categories: Business

Google-backed Adda247 cuts nearly 300 jobs: Report

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Google-backed edtech platform Adda247 has laid off round 250-300 workers throughout verticals, media report mentioned on Saturday.
Based on Entrackr, citing sources, about 100 to 150 workers have been laid off from StudyIQ, a UPSC-focused edtech platform acquired by the corporate for about $20 million in December 2021.

About 150 workers have been laid off in main verticals, together with gross sales and content material. It’s the first layoff in just a few years on the firm.

As per the report, the laid-off staff have been requested to resign with none prior discover.

In October final 12 months, Adda247 raised $35 million in a spherical led by WestBridge Capital. The spherical noticed Google as a brand new investor.

The funding spherical additionally noticed participation from the prevailing buyers, together with Information Edge and Asha Impression.

Based by Anil Nagar and Saurabh Bansal in 2016, Adda247 caters to the training wants of tens of millions of scholars from tier 2 and three cities.

In the meantime, edtech main Byju’s has introduced to put off 4,000-5,000 workers in a “enterprise restructuring train”. The startup has eradicated greater than 10,000 positions within the final two years.

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Amirul

CEO OF THTBITS.com, sharing my insights with people who have the same thoughts gave me the opportunity to express what I believe in and make changes in the world.