wordpress blog stats
Connect with us

Hi, what are you looking for?

Updated: Pearson Invests $12.5Mn In TutorVista, JV With EduComp & Future Plans

Update: As a part of a $19 million third round of funding, Bangalore-based e-learning company TutorVista raised $6.5 million from Lightspeed Venture Partners and Manipal Group, apart from $12.5 million from the Pearson group, VCCircle reports. With this, the total from three rounds of funding since its incorporation in 2006 comes to $38 million. CEO K Ganesh told VCCircle that the company intends to use the money to expand to UK and Australia; they have around 10,000 students in all, 90% of which are from the US. Original Story (June 25th 2009): Pearson, the media group behind Financial Times and publishing house Penguin, is showing an increased interest in India's online education sector in the backdrop of an uncertain economy and weakened spending in North America's K-12 publishing market. It has acquired a 17.2% stake in TutorVista, a Bangalore based e-learning company, for $12.5 million, VCCircle reported. TutorVista recieved its first round of funding from Manipal Group, and its second from venture capitals Sequoia Capital India, Silicon Valley Bank and Lightspeed Venture Partners. Lightspeed contributed $7 million, while the other two contributed an additional $3.75 million. TutorVista has 20,000 registered students and offers coaching using online whiteboards and voice over IP (VoIP) primarily to an USA audience. Pearson has plans to include TutorVista's services to its bouquet of education services for students in North America, the UK and other parts of the world. Vocational Training With EduComp Pearson has also set up a joint venture with Delhi-based EduComp, which is listed on the BSE and…

Please subscribe/login to read the full story.
Written By

http://www.linkedin.com/in/preethij

Free Reads

News

With GPS in every car, India's toll collection is going high-tech.

News

Google is currently undergoing the necessary procedures for the leasehold land, which is presently under the ownership of the Maharashtra Industrial Development Corporation.

News

The pilot project for which is being launched in 19 cities this year, with a plan to launch a full-fledged rollout next year.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

NPCI CEO Dilip Asbe recently said that what is not written in regulations is a no-go for fintech entities. But following this advice could...

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ