Vedantu CEO and Co-Founder, Vamsi Krishna, on Friday denied the reports of Byju's acquiring the company for around USD 600-700 million.

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"I normally don't react to these, as by the frequency of them, if these were true, we would have been sold over 4-5 times by now :D!

This information is 100% absolutely false and V are not doing or even remotely considering anything of this sort," he said on Linkedin.

Byju's was yet to officially comment on the major development in the growing online Indian edtech space.

Vedantu offers individual and group classes across K-12 and test preparation segments. Over 1.5 lakh students study live every month on the platform and more than 40 million users access free content, tests, doubts, videos on Vedantu's platform and its channels on YouTube monthly.

Byju's, the world's leading edtech company, with 100 million registered students on its flagship learning app, acquired Singapore headquartered Great Learning for USD 600 million late last month.

The partnership marked Byju's entry into the professional and higher education segment with a USD 1 billion commitment.

Edtech company Byju's is currently India's most valuable unicorn startup with a valuation of over USD 17 billion.

Last month, Byju's acquired Epic, the world's leading digital reading platform for kids 12 and under, for USD 500 million.

The big acquisition came on the heels of it buying the Aakash Institute for nearly USD 1 billion earlier this year.

Byju's in August last year acquired Mumbai-based live online coding provider WhiteHat Jr in an all-cash deal worth USD 300 million (roughly Rs 2,246 crore).

Live online learning platform Vedantu last month announced a strategic investment in Pedagogy, an AI-enabled learning startup that provides online courses and interactive digital books for students preparing for competitive examinations.

(With inputs from IANS)

First Published:Aug 6, 2021 1:01 PM IST