Agrawal new Twitter CEO😎, upGrad goes global🌐, CoinDCX plans📊
Jack Dorsey steps down as CEO - IIT Bombay alumnus Parag Agrawal replaces, upGrad makes first overseas deal, CoinDCX plans to pursue IPO, Funding Deals & more.
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IIT Bombay alumnus Parag Agrawal replaces Jack Dorsey as Twitter CEO😎
Twitter co-founder Jack Dorsey has stepped down as CEO of the social media platform, the company announced on Monday. He was succeeded by Twitter's current Chief Technology Officer and former IIT Bombay alumnus Parag Agrawal.
Dorsey will remain on the board until his term expires in 2022.
Agrawal has been CTO since 2017 and at Twitter since 2011.
In a letter posted on his Twitter account, Dorsey said he was “really sad...yet really happy" about leaving the company and that it was his decision.
Dorsey has faced several distractions as CEO, starting with the fact that he’s also founder and CEO of the payments company Square. Critics have long complained that the arrangement has divided his attention to Twitter’s detriment.
upGrad makes first overseas deal, snaps up Australian Global Study Partners🌐
Edtech unicorn upGrad which has been growing through acquisitions and has earmarked an M&A war chest of $250 million, has entered into an acquisition agreement to buy 100 percent of Global Study Partners (GSP), the largest study abroad company in Australia, for AUD 16 million, with a commitment of a further AUD 10 million in future.
This marks the first international acquisition for the Ronnie Screwvala-promoted firm and strengthens its foray into the study abroad space.
GSP founder and chief executive Elaine Starkey said with this deal with upGrad, her existing partner institutions and recruiters worldwide can expect significant growth in quality student enrolments.
According to a Redseer report, Indian students opting for higher education abroad are increasing rapidly and are expected to grow 2x till 2024, to reach 1.8 million who would be spending $75-85 billion overseas.
21K School, an edtech platform, has raised $5 million in a Pre-Series A round led by Ronnie Screwvala, co-founder and chairman of upGrad.
Digiboxx, a startup that provides file storage and sharing or cloud storage services, has raised $1.5 million in a pre-series-A funding round led by Capgro Fund.
ABL Workspaces, a coworking and flexible working space provider, has raised Rs 15 crore in a Series A funding round from Ethik Inc of Canada.
Jade Forest, a direct-to-consumer beverage brand, has raised $1 million in a funding round led by Mumbai Angels Network.
CoinDCX plans to pursue IPO as soon as India regulations are in place📜
The country’s first cryptocurrency unicorn, CoinDCX, plans to pursue an initial public offering as soon as government regulations allow it, cofounder Neeraj Khandelwal said.
The share sale would be a key vote of confidence for India’s digital asset industry similar to Coinbase Global Inc.’s US listing earlier this year, Khandelwal said in an interview with Bloomberg Television Monday.
“As soon as the government or the situation allows us, we will try for an IPO,” he said. “An IPO gives legitimacy to the industry, just like the Coinbase IPO gave a lot of confidence in the crypto markets. Similarly, we want to instill a similar level of confidence with an IPO of CoinDCX.”
CoinDCX raised Rs 670 crore this year from investors led by Facebook cofounder Eduardo Saverin’s B Capital Group. The funding round valued the firm at $1.1 billion, cofounder and CEO Sumit Gupta said at the time.
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