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Edtech unicorn Byju's acquires on-demand tutoring app HashLearn
Edtech Unicorn Byju's has acquired on-demand tutoring app HashLearn. Both the co-founders of HashLearn, Jayadev Gopalakrishnan and Gokul Janga, have joined Byju's as consultants, working under the business unit of WhiteHat Jr. The target company has to transfer all of its intellectual property rights to Byju's upon acquisition of its ultimate holding entity Hash Education Inc. HashLearn offers free and paid subscriptions for students to access its content. The company claims that more than three lakh students have joined the platform since its inception. It had outstanding losses of INR 3.5 crore in FY20. Its revenue from operations also dropped by 90%, from INR 2.38 crore in FY19 to INR 24.02 lakh in FY20. HashLearn was a part of Google's Launchpad Accelerator program in November 2016. The company had also raised funding from Binny Bansal, Anupam Mittal, Rajan Anandan, Bhavish Aggarwal, Sunil Kalra, Singapore Angel Network and others in March 2016.
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