Discover more from Rise & Shine ☀
Glance to launch in USA📱, Tencent buys 0.72% stake in Flipkart💰, Edtech goes hybrid👩🏻🏫
Glance to launch in the US soon, Tencent buys stake worth ₹2,060 crore in Flipkart, Edtech players go hybrid, Funding Deals and more.
Start your day, the smart way!
1 Mail | 2 Minutes | 3 Stories
Want this in your inbox?
Android lock-screen platform Glance to launch in the US soon📱
Glance, a part of mobile advertising giant InMobi Group, is looking to launch in the US market as soon as the next quarter and has already begun hiring for the vertical. Glance offers a customisable lock screen on Android and comes preinstalled with some phones.
Apart from its core mobile advertising business-to-business (B2B) vertical, InMobi Group also houses Glance, live commerce platform Roposo, ecommerce platform Shop101, and gaming company Gambit, which form its business-to-consumer (B2C) business.
Glance is also looking to bolster its monetisation play in India by launching digicommerce in the next three months. It is also looking to launch tokens, including non-fungible tokens (NFTs), in the next six months.
Tencent buys 0.72% stake in Flipkart from Binny Bansal💰
Chinese technology conglomerate Tencent has bought a stake worth $264 million (about Rs 2,060 crore) in Flipkart from its cofounder, Binny Bansal, through its European subsidiary, according to official documents.
The transaction was completed on October 26, 2021 and was shared with the government authorities at the start of the current financial year.
Bansal now holds around 1.84% in Flipkart after selling part of his stake to Tencent Cloud Europe BV.
The Tencent arm holds 0.72% in Flipkart, a stake valued at around $264 million based on Flipkart’s most recent valuation of $37.6 billion from July 2021.
Eyewear retailer Lenskart has raised Rs 219 crore ($28 million) from Avendus Future Leaders Fund II.
Pepper Content, a full-stack content marketplace that connects content creators to organisations that require content, has raised $14.3 million (Rs 110 crore) led by Bessemer Venture Partners.
Education technology startup Exprto has raised Rs 5 crore in a seed investment round led by GSF and Angel List USA.
➡️ Check out our LinkedIn space for more on the funding deals.
Edtech players go hybrid as online growth slows👩🏻🏫
Edtech players are turning their focus on a hybrid model amid a slowing down in the sector after two years of hypergrowth as easing Covid-19 curbs and reopening of offline institutions make more students go back to traditional modes of learning.
Companies including PhysicsWallah, Byju’s, Imarticus Learning, Cuemath, Vedantu and Unacademy are all in the process of either expanding or building an offline presence.
Edtech players say going hybrid is part of a natural transition as education transforms with the rise of digitisation and emerging technologies. While rapid adoption of online learning will continue, classroom programs will enhance learning, student-teacher in-person interaction and project work.
Tweet of the day🐥
📸 Follow us on Instagram.
Other Top Stories
📜 India cannot be pressured into signing agreement at WTO: Goyal
💸 IPL media rights e-auction: Day 1 bid for TV, digital ends at ₹43,050 cr
"The journey of a thousand miles begins with one step."
- Lao Tzu
Thanks for reading😊
Hit Like❤️. Share with your friends/colleagues, if you enjoyed the newsletter.