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Amazon Pares Back On Ambitious India Edtech Dreams

  • 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

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