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According to the company's annual financial statements filed with the Registrar of Companies (RoC), the Bengaluru-based firm reported a total income of Rs 175 crore in FY23, down from Rs 191 crore in FY22.
The Bengaluru-based company is in the process of sacking about 385 employees while the leadership team including founders will take a 50 per cent pay cut, people aware of the development told Business Today.
Asia-Pacific technology industry M&A deals in October 2022: Top deals
Vedantu, a pioneer in LIVE online learning in India, today, announced that they have bought a majority stake in Deeksha (Ace Creative Learning Pvt. Ltd) - a leading test preparation platform in Karnataka for board and competitive exam coaching for s
Vedantu which was launched in 2014 offers individual and group classes across K-12 and test preparation segments. It is the fifth edtech start-up to gain the unicorn status.