MAM
ŠKODA AUTO India introduces ‘Single Wicket’: a unique nationwide hunt for the next gen cricketing stars
MUMBAI: ŠKODA AUTO India announced the commencement of its unique cricketing talent scouting programme – ŠKODA 'Single Wicket' – for the young and aspiring players in the ‘Under 12’ and ‘Under 14’ age categories. The first edition of this tournament will be organized between July 2019 and January 2020, and stands to witness the participation of 100,000 students, from 5,000 schools, across 50 cities nationwide.
ŠKODA Single Wicket is a six-ball/one-over cricket tournament played between two players alternatively, that is, each participant will get a chance to bat, bowl, and demonstrate their skill set to an independent panel of jury members/selectors during the ‘City Trials’. The top eight performers, from each category, would advance to the ‘City Finals’ whereas all the participants will take home the official ŠKODA Single Wicket jerseys. Meanwhile, the parents and the guardians accompanying their loved ones will be able to experience the Czech marque, at specially designed ŠKODA AUTO engagement zones.
The shortlisted 100 individuals, in the U-12 and the U-14 categories, will travel along with their parent to Mumbai, Maharashtra for the ‘National Finale’. Here, the national champions, across the two categories, will be awarded ₹ 10 lacs each while the runners up will take home ₹ 5 lacs each. An incredible pool of talent, technique and potential, the ‘City Winners’ from across the nation, will be awarded prizes worth ₹ 15,000 each.
Commenting on the introduction of the ŠKODA Single Wicket, Mr. Zac Hollis, Director – Sales, Service and Marketing, ŠKODA AUTO India said, “With Single Wicket, we celebrate the spirit of cricket and sportsmanship, in India. This first of its kind nationwide talent search programme is an innovative exercise to reach out to our customer, transcending geographies, and, who knows, in doing so we may discover India's next gen cricketing stars.”
Brands
UpGrad to acquire Unacademy in share-swap deal, founders confirm
Proposed share-swap could unite two edtech rivals as sector eyes consolidation
MUMBAI: The Indian edtech sector may be inching toward another wave of consolidation, with online learning platform upGrad signing a term sheet to acquire rival Unacademy in an all stock transaction.
If completed, the deal would bring together two of the country’s most prominent education technology companies at a time when the sector is adjusting to slower demand and a sharper focus on profitability after the pandemic driven boom.
UpGrad founder and chairperson Ronnie Screwvala confirmed the development in a post on X, stating that Unacademy co-founder and chief executive Gaurav Munjal would continue to lead the company following the acquisition.
“We at upGrad have signed a term sheet to acquire Unacademy in an all stock deal, with founder and ceo Gaurav Munjal staying on to build Unacademy and focus on what it does best, creating online education products that learners love,” Screwvala wrote.
He added that the agreement includes a break fee provision if the transaction fails to close. Screwvala also said the combined entity could strengthen upGrad’s integrated learning model spanning K12 education, professional training and lifelong learning.
Unacademy confirmed that the proposed transaction will be executed through a 100 per cent share swap, with the valuation to be disclosed only after the deal closes and regulatory filings are completed.
Announcing the development on X, Munjal described the agreement as the beginning of a new chapter for both companies and the wider edtech ecosystem.
He noted that Unacademy had spent the past year reshaping its operations to focus more sharply on online education products. Among the steps taken were consolidating company operated offline centres with franchise partners and launching a Rs 50 crore employee stock ownership plan buyback, in which around 40 per cent of former employees have already participated.
Munjal also highlighted the traction gained by Airlearn, the company’s language learning product, which he said is expanding in markets including the United States, the United Kingdom, Germany and Canada.
“Our cash reserves as of today are more than $100 million,” he said.
The proposed deal also marks a turnaround from earlier talks between the two companies that had stalled over disagreements on valuation and structure. Previous discussions had placed Unacademy’s valuation in the range of $300 million to $400 million, according to media reports.
If the transaction goes through, Munjal will continue as co-founder and chief executive of Unacademy, focusing on building online learning products for students in India and global markets.
For upGrad, the acquisition would broaden its footprint across the education spectrum, from school level learning to professional upskilling and lifelong education.
The move comes as India’s edtech sector enters a more sober phase after years of rapid expansion. Companies across the industry have been trimming costs, restructuring operations and seeking scale to build more sustainable businesses.
Against that backdrop, the potential combination of upGrad and Unacademy could signal that the next phase of edtech growth may be driven less by blitzscaling and more by strategic partnerships and consolidation.
