6-year-old girl’s organs give new lease of life to 5 people

Bengaluru, Jan 10: Education technology company Byju’s is learnt to have raised $200 million in a funding round from Tiger Global Management, which has valued the Bengaluru-based start-up at around $8 billion, making it the third-largest unicorn (start-up valued over $1 billion) in the country.

With this, the Byju Raveendran-founded company has seen over 50 per cent jump in its valuation in just around nine months. In March 2019, Byju’s was valued $5.4 billion, when it raised around $31 million from General Atlantic, and Chinese investment giant Tencent.

At the current valuation, Byju’s has now replaced home-grown cab-hailing major Ola as the third-largest unicorn, next only to Paytm and OYO, which are valued around $16 billion and $10 billion, respectively.

Byju’s confirmed the transaction through a press statement, though the company declined to share any specific details of the deal. Tiger Global could not be immediately reached for its comments.

“We are happy to partner with a strong investor like Tiger Global Management. They share our sense of purpose and this partnership will advance our long-term vision of creating an impact by changing the way students learn,” said Raveendran. “This partnership is both a validation of the impact created by us so far and a vote of confidence for our long-term vision.”

This is Tiger Global’s first investment in the edutech space in India after Vendantu, an online tutoring platform, where it, along with WestBridge Capital, led a $42-million round in August.

An early backer of India’s internet growth story, the New York-headquartered Tiger Global has been a prolific investor in the Indian start-up space. Its portfolio in the country ranges from consumer focused e-commerce companies that are vital for the growth of the sector, such as Flipkart, Delhivery, Grofers, Quikr and PolicyBazaar, to mention a few.

After tasting success with Flipkart, one of its earliest investments, where it had pumped in around $1 billion, the PE major is now doubling down its focus on the Indian start-up space, under its new investment head Scott Shleifer.

Shleifer, who set up international private equity practice for Tiger Global, is said to be as aggressive deal maker like his predecessor Lee Fixel, who left the investment firm in March. Since then, Tiger has also invested in a host of technology-focused companies in diverse sectors including Ninjacart, CRED, NoBroker and Facilio to mention a few.

“Byju’s has emerged as the leader in the Indian education-tech sector. They are pioneering technology shaping the future of learning for millions of school students in India,” Shleifer was quoted in the press statement issued by the edutech firm.

Bengaluru, Jul 22: On Wednesday morning starlet and Bigg Boss 3 contestant Jayashree Ramaiah sent social media into a tizzy with an update that read, “I quit. Goodbye to this f*****g world and depression.” Friends and acquaintances immediately began reaching out to the actor asking her to return their concerned calls and desist from taking any extreme steps.

“Jayashree has been battling depression for a while now. She had family issues and was also concerned about the lack of work,” shares actor Ashvithi Shetty. The Ramachari twins were in touch with Jayashree since they met at a celebrity cricket match four years ago. “She has shared several times about how low she’s been and I would try to cheer her up. But the problem was that she’d keep changing her phone number so often that it became difficult to keep track of how she was doing,” states Ashvithi.

Around four months ago, Jayashree moved into her own home and mentioned to her that she was happy with this new development in her life. “But she went retreated again and a few days ago, I messaged her on social media and she said she was doing fine. So I was shocked to see this update on Wednesday morning,” avers the actor. Repeated calls finally elicited a message from Jayashree that she was getting admitted to the hospital. “But I also got contradictory information that she had been discharged and had been taken to the hospital again but she was refusing to go inside. I am awaiting more clarity on the issue,” sums up Ashvithi.

Bengaluru, Mar 28: Karnataka Pradesh Congress Committee (KPCC) chief DK Shivakumar on Saturday appealed to the authorities to arrange transport for migrant workers, stating that it is appalling to see their plight as they are walking hundreds of kilometres to their villages amid COVID-19 lockdown.
"Appalling to see the plight of poor migrant workers who are walking hundreds of kms to their villages. We cannot abandon our citizens, especially children, and put them at risk. Appealing to the authorities to arrange transport. Please take sufficient safety precautions as well," Shivakumar tweeted.
Hundreds of people, comprising mostly of migrant workers and their families, gathered at the Lal Kua in Uttar Pradesh from Delhi, Gurugram and other places, to take buses to their respective destinations amid the lockdown.
While the Prime Minister Narendra Modi had imposed a nationwide lockdown to prevent the spread of coronavirus, the Uttar Pradesh administration had decided to ply these buses to help thousands of migrant workers who were stuck in the national capital and had started returning on foot to their native places in Bihar, Uttar Pradesh, among others.