Good morning and apologies for the lack of a newsletter yesterday. Reliance continues to woo American investors, with now KKR reportedly investing Rs. 5500 Cr in Reliance Retail for a 1.27% stake in the entity. In other news- Amazon is adding regional languages to its platform & Camp K12 is in talks to raise a new round.
➡️ I'm not going to lie, I'm getting just a bit tired of the activity in EdTech- but here we are talking about yet another coding classes for kids company. Camp K12 is in talks to raise a $12 - $15M round led by Falcon Edge's Alpha Wave Incubation with participation from existing investors Matrix and SAIF Partners who had earlier led a $4M seed round in the company.
➡️ The company is building in a space which has recently seen a lot of buzz- teaching children how to code. A lot of current EdTech company have been offering these classes including Vedantu, Toppr, Cuemath, Lido Learning, Coding Ninjas, and Uable as well as the most well known of the bunch White Hat Jr (acq. by BYJUs).
➡️ Alpha Wave Incubation also seems to be making some aggressive moves in EdTech with this being their 3rd reported investment in the space in the last couple of months (Classplus, Cuemath & now Camp K12)- Interesting that all the companies start with the letter "C"
➡️ I think the question we should be asking though is if kids should even be taught how to code at such an early age? Seeing how some of these platforms sell to parents, I wonder how many of these kids are actually interested in learning how to code. I'm sure the ones who are actually interested will pick it up themselves and don't need classes for it.
➡️ Moreover, I don't think there's a terrible amount of research that even points to successful programmers learning how to code at an early stage but I don't think parents seem to grasp that very well.
2. https://bit.ly/33QtdEx: Amazon adds new regional languages to its platform
➡️ Amazon has introduced 4 new languages on the platform, Tamil, Telugu, Kannada and Malayalam, as it looks to expand its offerings to consumers who might be new to the platform and to eCommerce in general.
➡️ This push for a newer audience seems to line up with Diwali (which is in a couple of months) as all major eCommerce platforms plan their festive season sales.
➡️ Amazon plans to capture the next 200 - 300M Indians who will come & shop online in the future, and it is quite likely that these folks might find it more comfortable to navigate the web in their native languages. Amazon had launched Hindi on the platform 2 years ago and has seen prior successes with that.
➡️ The next two months are also going to be an interesting time for eCommerce as India returns to somewhat normalcy (despite leading the entire world in new number of COVID cases/day) with the IPL and increasing demand of eCommerce. The festive season shopping sales will be interesting to see if there is a rapid rise in eCommerce as a percentage of total commerce (as the US has witnesses).
Feedback & ❤️ always appreciated BONUS (Tweet of the day): https://twitter.com/ankitkr0/status/1308332431351582721
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