- Amazon.Com, Inc (NASDAQ:AMZN) will shut down Amazon Academy, an online learning platform it launched in India for high-school students last year, TechCrunch reports.
- Amazon will wind down the edtech service in the country in a phased manner starting August 2023.
- Those who signed up for the current academic batch will receive a full refund.
- Also Read: Amazon Launches Logistics Network In India After Walmart-Backed Flipkart
- Amazon officially launched Academy, previously called JEE Ready, in 2021 after testing the platform since mid-2019. Academy sought to help students prepare for entry into the nation’s prestigious engineering colleges.
- Byju’s, Unacademy, and Vedantu dominate India’s education market.
- Meta Platforms Inc (NASDAQ:META) Facebook also invested in Unacademy, a Bangalore-based startup that offers online learning classes.
- Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) Google, which invested in Indian edtech startup Cuemath, also partnered with CBSE to train more than 1 million teachers in India and offer a range of free tools like G-Suite for Education, Google Classroom and YouTube to help digitize the education experience in the nation.
- Amazon looks to cut about 10,000 jobs and began eliminating roles in some divisions, including devices and services.
- Amazon also shut down teams that make AWS tutorials and other online courses.
- Price Action: AMZN shares closed higher by 1.00% at $94.13 on Wednesday.
- Photo by christian wiediger via unsplash
NIO, Evolution Petroleum And Other Big Stocks Moving Lower In Wednesday’s Pre-Market Session
U.S. stock futures traded lower this morning on Wednesday. Here are some big stocks recording losses in today’s pre-market trading session.
Evolution Petroleum Corporation (NYSE: EPM) dipped 13.9% to $7.62 in pre-market trading after reporting downbeat fourth-quarter results.
