Equity Equity Monday: Edtech consolidation, and Amazon continues to make you like it less
Apr 5, 2021
This week, the podcast dives into the tumultuous world of tech stocks, noting a rise in American markets despite disappointing news from India. Facebook's privacy issues are under scrutiny, while Amazon faces backlash for retaliating against workers. In edtech, Byju's is making waves with a billion-dollar acquisition. On the funding front, Meesho reaches a impressive $2.1 billion valuation, and Cresta secures an additional $50 million. Plus, the journey of Alkami Technology towards its IPO showcases innovative roots in unexpected places.
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Amazon's Anti-Union Tactics
- Amazon faces scrutiny after illegally retaliating against two internal critics amidst unionization efforts.
- Reports reveal harsh tactics used to suppress worker organization, including alleged firings, interrogations, and disciplinary actions.
Byju's Acquisition
- EdTech giant Byju's acquired Akash Educational Services, a chain of physical coaching centers, for $1 billion.
- This signifies a trend of EdTech companies expanding into in-person learning as the market matures.
Meesho's Funding and Valuation
- Indian social commerce platform Meesho raised $300 million, reaching a $2.1 billion valuation.
- SoftBank Vision Fund 2 led the round, highlighting the global growth of social commerce.