Deakin
A Deakin University study has found business leaders are more optimistic about their company’s profit outlook when the sun is shining, suggesting investors might want to check the weather forecast before making financial decisions.
In the first large-scale study of the nuanced ways in which emotions affect top executives, Deakin Business School’s Associate Professor Edward Podolski analysed a large sample of earnings data from U.S. public firms to determine the role and economic consequences of the weather in shaping the judgment of corporate executives.
He found that managerial profit forecasts were highly sensitive to the average sunshine conditions in the days immediately before delivering earning reports, with executives tending to overstate future earnings when they were exposed to more sunshine and understate earnings when exposed to less sunshine.
Global edtech upGrad in major funding announcement
Funding to provide boost to UK s international student population
LONDON, April 29, 2021 /PRNewswire/ South Asia s largest online higher education company, upGrad, today announced that it has raised USD 120 million from Temasek, a global investment company headquartered in Singapore.
upGrad plans to use a portion of the fresh capital to support UK institutions whose international student population has suffered as a result of the pandemic. The edtech platform plans to help more universities accessible to the world by taking services online.
The cost-effective proposition offers university partners with a new revenue stream at no extra cost, with only limited faculty time required in the first year.
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Global edtech major upGrad raises USD 120 million
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- Fresh capital to scale operations in international markets, pursue M&A opportunities, and expand graduate and post-graduate degree portfolio
MUMBAI, India, April 26, 2021 /PRNewswire/ upGrad, South Asia s largest online higher education company, today announced that it has raised USD 120 million from Temasek, a global investment company headquartered in Singapore. This is the first external funding raised by the edtech major. Since its founding six years ago in 2015, upGrad has been 100% owned, funded, and run by its co-founders as a capital-efficient business.
(L-R) Phalgun Kompalli - Co-founder; Mayank Kumar - Co-founder, MD and Ronnie Screwvala - Chairman, Co-founder upGrad
Edtech platform upGrad raises $120 mn from Temasek in first external funding round
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Edtech platform upGrad has made its first external fund-raise since inception in 2015. On Monday, it announced it has raised $120 million (about Rs 897.3 crore) from Singapore-based Temasek. Since its inception , upGrad has been 100 percent owned, funded, and run by its co-founders as a capital-efficient business.
The education major plans to use the fresh capital to further strengthen its team, scale its global market operations and bolster its technology and product capabilities, a statement said. The company will also pursue merger and acquisition (M&A) opportunities, expand graduate and post-graduate degree portfolio in India, and scale up operations to achieve its $2 billion revenue goal by 2026, it added.