Categories: LayoffsLayoffs India

Extramarks Layoffs: Company shifts focus to B2B Business

Introduction

Extramarks is a Noida-based edtech start-up that provides digital learning solutions for students ranging from kindergarten to grade 12. The platform offers interactive study material, online tutorials, and assessments. Extramarks was founded in the year 2007 by Atul Kulshrestha, and since then, it has grown to become one of the leading edtech players in India. It has raised over $30 million in funding, including $10 million by Reliance Industries. However, Extramarks recently made headlines for laying off 300 employees.

History

Extramarks was founded by Atul Kulshrestha in the year 2007. It started as a small start-up, but within a few years, it became one of the leading edtech players in India. Extramarks has been successful in providing digital learning solutions to students across the country. In 2012, Extramarks launched an e-learning platform to cater to the needs of students studying in CBSE, ICSE, and state board schools.

Funding and Investors

Extramarks has raised over $30 million in funding to date. Its investors include Reliance Industries, IDFC Parampara, Helion Venture Partners, and Cisco Investments. In December 2020, Reliance Industries invested $10 million in Extramarks, which was aimed at expanding its footprint in the edtech sector.

Performance

Extramarks has been successful in providing digital learning solutions to students across India. It has been helping students achieve better results for over a decade. Extramarks has a user base of over 10 million students in India, and it has been offering its services to over 12,000 schools in the country.

Reason for Layoffs

Recently, it was reported that Extramarks laid off 300 employees. The reason cited for the layoffs was the company’s decision to shut its B2C business. Extramarks CEO Atul Kulshrestha stated that the company has decided to focus on its B2B business, where it works with schools and institutions, rather than directly with students.

Number of Employees Laid Off

As per the reports, Extramarks laid off 300 employees. This number is significant as it represents a considerable portion of the company’s workforce.

Statement from Company Stakeholders

In a statement, Extramarks CEO Atul Kulshrestha stated, “We have taken this difficult decision to close the B2C business and focus our resources on the B2B business. It was a tough call to make, but we believe that it is the right decision for the long-term health of the company. We will continue to support our employees during this transition and provide assistance in finding new opportunities.

Conclusion

In conclusion, Extramarks is a leading edtech player in India that provides digital learning solutions for students across the country. Though it recently laid off 300 employees, the company continues its focus on its B2B business. Extramarks has been successful in providing digital learning solutions to students across India, and it remains committed to its mission of improving learning outcomes for students. By following SEO standards and practices, this blog will help Extramarks to rank on Google’s first page and reach a broader audience.
Abhishek Sharma

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Abhishek Sharma
2 years ago

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