Disney paid Rs 178 Cr for Hotstar US📺; LEAD to acquire Pearson's K-12👩🏻🏫; OpenAI at $29 Bn🤑
Disney paid Rs 178 Cr for Hotstar US📺; LEAD to acquire Pearson's K-12👩🏻🏫; OpenAI at $29 Bn🤑
Disney’s arm paid Rs 178.13 Cr, LEAD to acquire Pearson's local K-12 learning biz, OpenAI in talks to raise funds valuing it at $29 bn, Funding Deals and more.
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Disney’s arm paid Rs 178.13 Cr for Hotstar’s US biz📺
Star India-controlled Novi Digital Entertainment, which operates the Disney+ Hotstar streaming platform, sold its US business to Buena Vista Video on Demand (BVVOD), a unit of Walt Disney, for Rs 178.13 crore.
Disney+ Hotstar, called Hotstar in the US, exited the market in 2021. Walt Disney’s BVVOD is a leading distributor of movies in the Video-On-Demand arena.
Hotstar's sports content moved to ESPN+ while the entertainment content was shifted to Hulu, a subscription-based streaming service in which Comcast holds 33%.
The decision was part of Disney's strategy to consolidate its content into its streaming bundle that comprised Disney+, ESPN+ and Hulu.
LEAD to acquire Pearson's local K-12 learning business in India👩🏻🏫
Edtech unicorn Lead has entered into a definitive agreement with British educational services company Pearson to acquire its K-12 India business. The deal is part of Pearson’s strategy, as per which it has been divesting its K-12 businesses in other geographies as well.
“The acquisition will help the company expand its network to 9,000 schools from around 3,500 currently,” cofounder & CEO of Lead, Sumeet Mehta, told. He further said the acquisition would see around 150 people join Lead from Pearson.
LEAD said it will expand its reach to over 9,000 schools and enhance its product portfolio to cater to more than 5 lakh private schools in India.
Hot Shorts⚡
Digital lending platform KreditBee has raised another $100 million in its Series D round from private equity firm Advent International. With this, the company has raised $180 million in the past two months.
Rural commerce startup VilCart has raised $13 million in a Series A funding round led by Asia Impact, with participation from Nabventures Fund and Texterity Private Limited.
Local news publishing and networking platform PublicNext has received Rs 1 crore funding from Google and has been selected as a recipient of the Google News Initiative (GNI) Innovation Challenge (Asia Pacific).
OpenAI in talks to raise funds valuing it at $29 billion🤑
OpenAI, the artificial intelligence research lab behind chatbot ChatGPT, is in talks to sell existing shares in a tender offer that would value the company at about $29 billion.
The deal is structured in a way in which venture capital firms Thrive Capital and Founders Fund will buy shares from existing shareholders such as employees.
The deal would attract investment of at least $300 million in share sales.
OpenAI's chatbot is a software application designed to mimic human-like conversation based on user prompts and can respond to a large range of questions while imitating human speaking styles.
Microsoft CEO Satya Nadella recently said ChatGPT would also be integrated with its several products including the search engine Bing.
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