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TikTok parent ByteDance to shut edtech business SnapSolve in India

TikTok parent ByteDance to shut edtech business SnapSolve in India

The tech firm is letting go of its employees—over three dozen members of staff in the division.

ByteDance currently runs education-based app SnapSolve and music streaming platform Resso in India ByteDance currently runs education-based app SnapSolve and music streaming platform Resso in India

Parent company of short-video app TikTok, ByteDance is shelving its edtech business in India. The tech firm is letting go of its employees—over three dozen members of staff in the division.

Since Indian government banned TikTok due to the India-China border standoff last year, ByteDance currently runs education-based app SnapSolve and music streaming platform Resso in India. The Indian government banned various apps developed by Chinese companies including TikTok over national security concerns.

“SnapSolve is a doubt solving app providing instant solutions to Math, Physics, Chemistry, Biology and Science doubts and NCERT book questions. Solve homework doubts with your camera or get homework help from top tutors within minutes. Snap homework and then get solutions for any question,” the app’s description on Google Play Store reads.

It further mentions that SnapSolve is a free learning app similar to edtech platforms like Vedantu, Byju’s, Doubtnut, Quesgo. The online edtech universe is booming with several new platforms fetching huge amounts of funding.

5 out of 13 unicorns added in Q3 CY21 are from edtech and fintech sectors per a recent NASSCOM report. The report further stated that total $6.1 billion was raised by Indian start-ups and large ticket deals helped edtech and foodtech companies account for more than 46 percent of the total funding. This includes Unacademy securing $440 million in its late stage funding round from investors like Temasek, Tiger Global, SoftBank among others.

(With agency inputs)

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