Byju’s in funding talks with TPG, sovereign funds as debt weighs
1 year, 10 months ago

Byju’s in funding talks with TPG, sovereign funds as debt weighs

Live Mint  

Byju’s is in negotiations with investors including TPG to raise more than $500 million, a much-needed capital infusion that could help the world’s most valuable edtech startup stave off potential debt issues. Several investment firms including TPG and two Middle Eastern sovereign wealth funds have begun due diligence on the Indian company, which is hoping to keep its valuation steady at about $22 billion during the financing, people familiar with the matter said. Backed by the Chan Zuckerberg Initiative, General Atlantic and Tiger Global, Byju’s raised billions of dollars in capital to finance a global acquisition spree in the face of a tech downturn worldwide. The company, which had at one point 150 million users, has since been plagued by challenges including a long-delayed filing of audited financial statements and a truncated fundraising last year.

Tpg Sovereign Funds  workforce  funding  byjus  tpg  tech  including  sovereign  funds  company  weighs  global  valuation  billion  debt  thats  talks

History of this topic

Byju's under scrutiny again: Government launches new investigation into finances
4 weeks ago

Byju's under scrutiny again: Government launches new investigation into finances

India Today  

The government has launched a fresh investigation into the financial and accounting practices of Byju’s, the troubled edtech giant. The new investigation comes after a previous review by the Ministry of Corporate Affairs highlighted lapses in corporate governance at the company, according to sources familiar with the matter, reported Bloomberg. NEW INVESTIGATION DETAILS The Registrar of Companies’ regional office in …

Why Has HSBC Cut Byju's Valuation To Zero? Understanding Edtech Giant's Crisis
6 months, 2 weeks ago

Why Has HSBC Cut Byju's Valuation To Zero? Understanding Edtech Giant's Crisis

News 18  

In a significant move, financial services giant HSBC has slashed the valuation of edtech company Byju’s to zero, as compared with the company’s valuation of $22 billion in 2022. “We assign zero value to Byju’s stake amid multiple legal cases and funding crunch,” according to the HSBC note. Forbes noted, “Only four people from last year’s list dropped off this …

Mystery behind Byju's ‘hidden’ $533 million: Here's where it's tied up
9 months, 2 weeks ago

Mystery behind Byju's ‘hidden’ $533 million: Here's where it's tied up

Hindustan Times  

Edtech company Byju's, currently grappling with an intense financial crisis, said on Sunday they were unable to pay the salaries of their employees due to the investors of their company blocking the funding. However, a web of financial mismanagement and court proceedings traced a hefty sum of $533 million to Byju's, tied up in an offshore account, revealed a US …

Setback for Byju's as Australia-based investor slashes valuation by 98%
9 months, 3 weeks ago

Setback for Byju's as Australia-based investor slashes valuation by 98%

Hindustan Times  

Macquarie Capital, an Australia-based global financial services provider, has decided to slash by nearly 100% its valuation of struggling edtech firm Byju's, in which the former invested ‘a few million dollars’ in 2021, Bloomberg has reported quoting people familiar with the matter. This comes after Julius Baer Group Limited, a Swiss private banking group, accused Macquarie of charging clients based …

Byju’s ‘hidden’ $533 million stuck in unnamed offshore trust
9 months, 3 weeks ago

Byju’s ‘hidden’ $533 million stuck in unnamed offshore trust

Hindustan Times  

A small Florida hedge fund that allegedly helped Indian tech firm Think & Learn Pvt hide $533 million must reveal where the money is located or face possible sanctions from a federal judge on Monday. Byju's reportedly took the help of a Florida hedge fund to hide the money US Bankruptcy Judge John Dorsey in a Friday hearing dismissed an …

Byju’s woes shows failure to adjust to post-covid reality
10 months ago

Byju’s woes shows failure to adjust to post-covid reality

New Indian Express  

Troubled edtech firm Byju’s has been thrown a lifeline by disgruntled investors who have so far pledged to contribute $300 million to allow it to continue operations. The rights issue, expected to close by the end of the month, has valued the company at $200-250 million—a meltdown of about 95 percent from Byju’s peak valuation of $22 billion. Byju’s has …

How India’s Education Tech Giant Got Schooled and Lost $20 Billion in Value
10 months, 2 weeks ago

How India’s Education Tech Giant Got Schooled and Lost $20 Billion in Value

Live Mint  

Tech-stock valuations in the U.S. are beginning to look rich again. Byju’s, the education-technology company that was once India’s most valuable startup, is planning to raise funds at an implied valuation of $250 million or less—roughly 99% lower than the $22 billion it was valued at as recently as late 2022. The new rights issue would raise $200 million on …

Byju's crisis explained: Why edtech firm, once valued at $22 bn, is witnessing financial downfall
10 months, 3 weeks ago

Byju's crisis explained: Why edtech firm, once valued at $22 bn, is witnessing financial downfall

Hindustan Times  

Ed-tech company Byju's has been grappling with a financial crisis, and in their latest move, the shareholders of the company have moved a resolution seeking the ouster of the founders from top leadership roles, including CEO Byju Raveendran. US-based investment firm Redwood cut a loan of $1.2 billion to Byju's in November 2021, but the ed-tech firm failed to make …

Shareholders ask Byju Raveendran to step down
10 months, 3 weeks ago

Shareholders ask Byju Raveendran to step down

Live Mint  

Mumbai: Several large shareholders of Think and Learn Pvt. Ltd., the parent entity of edtech startup Byju’s, have called for a change in the company’s management, including the removal of co-founder and chief executive Byju Raveendran, people aware of the development told Mint. General Atlantic, Prosus Ventures, Peak XV and Chan Zuckerberg Initiative, among others, signed a notice on Thursday …

Once a unicorn, Byju's slashes valuation by 90% to raise funds as it files financials after 22-month gap
11 months ago

Once a unicorn, Byju's slashes valuation by 90% to raise funds as it files financials after 22-month gap

Firstpost  

Byju’s, a beleaguered edtech startup, is going to slash valuation by more than 90 per cent from its previous round to raise fresh funds and alleviate its financial troubles. Once counted among the world’s most valuable startups, Byju’s is seeking more than $100 million from existing investors through a fresh issuance of shares scheduled for February 2024, at a price …

Byju’s likely to slash its valuation by 90% to raise fresh funds
11 months ago

Byju’s likely to slash its valuation by 90% to raise fresh funds

Live Mint  

Byju’s, once counted among the world’s most valuable startups, is seeking to raise funds at a discount of more than 90% from its previous round to alleviate its financial problems. The beleaguered Indian education provider is asking more than $100 million from existing investors through a fresh issuance of shares slated for next month, at a price that values the …

BlackRock slashes Byju’s valuation to $1 billion, down 95%, says report
11 months, 1 week ago

BlackRock slashes Byju’s valuation to $1 billion, down 95%, says report

Live Mint  

Asset manager BlackRock has once again reduced its valuation of Indian ed-tech unicorn Byju’s, this time by around 95 percent from $22 billion to $1 billion, as per a Tech Crunch report citing company disclosures. Reversal of Fortune This valuation markdown represents a significant reversal of fortune for Byju’s, once considered the poster child of the Indian start-up ecosystem. Despite …

Byju’s targets to be profitable by March 2024, may layoff 3,000-3,500 workforce
1 year, 2 months ago

Byju’s targets to be profitable by March 2024, may layoff 3,000-3,500 workforce

Live Mint  

On account of consolidation and restructuring of the organization and settlement on a $1.2 billion loan, edtech major BYJU'S has set the target to become profitable by March 2024, reported news agency PTI citing sources. "Think and Learn Private Ltd restructuring will see the current operations spread across several business units streamlined into four core areas of K-12, test prep, …

From layoffs to legal hurdles: What's going on at Byju's?
1 year, 5 months ago

From layoffs to legal hurdles: What's going on at Byju's?

India Today  

Edtech giant Byju’s has seen a sharp turnaround in its fortunes since last year, and the success story of India’s most valuable start-up seems to have turned sour, even as its CEO Byju Raveendran remains optimistic about the company’s future. In a virtual town hall held on Thursday, Raveendran assured employees that the “best is yet to come” for Byju’s, …

Prosus slashes Byju’s valuation to $5 billion: Report
1 year, 5 months ago

Prosus slashes Byju’s valuation to $5 billion: Report

Live Mint  

Dutch-listed technology investor Prosus NV has slashed the valuation of Indian edtech startup Byju's to $5.1 billion, according to a TechCrunch report. Prosus had downsized the value of its 9.6 per cent stake in Byju's to around $493 million in the financial year ended March 31, the report added. Byju's is caught in what many see as a governance crisis …

Byju’s Supernova Moment: End of Star Trek For The Indian EdTech Giant?
1 year, 5 months ago

Byju’s Supernova Moment: End of Star Trek For The Indian EdTech Giant?

The Quint  

India’s edtech juggernaut Byju’s appears to be in serious trouble. Ever since its meteoric rise in mid-2020, I have, like others who have more than a passing interest in India’s education space, been stunned by the developments. Along the way, as the Byju’s phenomenon gained momentum, investors and lenders appeared to jump in some kind of frenzy, possibly more out …

BYJU’S woes | A timeline tracing why India’s Edutech giant is in trouble at home and abroad
1 year, 6 months ago

BYJU’S woes | A timeline tracing why India’s Edutech giant is in trouble at home and abroad

The Hindu  

The financial woes of India’s most successful edutech company Byju’s continue to worsen as it skipped payment of $40 million interest on its $ 1.2-billion loan on June 6. March 2023: Byju’s lenders accelerate loan repayment According to the company’s statement, the group’s lenders in U.S led by investment management firm Redwood accelerated the TLB repayment alleging certain non-monetary and …

Byju's Braces For Crucial Week As Lender Calls Loom Amid Rising Tensions
1 year, 6 months ago

Byju's Braces For Crucial Week As Lender Calls Loom Amid Rising Tensions

News 18  

Byju’s, the world’s highest-valued edtech company, is gearing up for an important week of discussions with its lenders as it seeks to ease growing tensions, people aware of the matter told Moneycontrol. The upcoming discussions hold immense significance for Byju’s, as the company, one of the world’s largest startups, has been in a prolonged dispute with its lenders for over …

BYJU’S refutes claims of hiding $500 million through US-based subsidiary
1 year, 7 months ago

BYJU’S refutes claims of hiding $500 million through US-based subsidiary

Live Mint  

Edtech giant BYJU'S has refuted claims that it is hiding $500 million through its US-based company, BYJU'S Alpha. Terming BYJU's Alpha as a non-operative US entity with no employees, the ed-tech company called the claims made in the Delaware court ‘bewildering’. In a statement about the matter, the company said, “This is an interim order of a Delaware Court to …

Byju's ED Raid: CEO Byju Raveendran Says Company In Compliance, Brought More FDI Than Any Other Startup
1 year, 7 months ago

Byju's ED Raid: CEO Byju Raveendran Says Company In Compliance, Brought More FDI Than Any Other Startup

News 18  

After financial crime-fighting agency ED searched Byju’s premises, the education platform’s CEO Byju Raveendran wrote to employees saying the company brought more FDI to India than any other startup and that the firm fully complies with all applicable foreign exchange laws. “As we are funded by 70+ impact investors who have satisfactorily done due diligence on our operations, including all …

Byju's Lenders Want $200 Million Prepayment Over Restructuring $1.2-Billion Loan : Report
1 year, 8 months ago

Byju's Lenders Want $200 Million Prepayment Over Restructuring $1.2-Billion Loan : Report

ABP News  

Lenders of the ed-tech firm Byju's are asking for up to $200 million in prepayment for the restructuring of a $1.2 billion loan, according to a report by the Economic Times. The report says the world's most valuable ed-tech start-up Byju's has borrowed money from various lenders, including a number of US-based hedge funds. According to the report, Byju's currently …

Byju Raveendran 2nd-richest entrepreneur in global edu sector: Hurun report
1 year, 9 months ago

Byju Raveendran 2nd-richest entrepreneur in global edu sector: Hurun report

Live Mint  

Edtech major BYJU's founder Byju Raveendran has become the second-richest entrepreneur in the global education sector, showed M3M Hurun Global Rich List 2023 released on Wednesday. As per the report, Byju Raveendran and his family are ranked 994th on the global list of Indian billionaires, having risen 1,005 positions in the past three years with a fortune of $3.3 billion. …

Byju’s founder Raveendran raising funds to raise his stake in firm
1 year, 11 months ago

Byju’s founder Raveendran raising funds to raise his stake in firm

Live Mint  

Byju Raveendran, the founder of the world’s most valuable edtech startup Byju’s, is in financing talks to lift his stake in the company to as high as 40%, people familiar with the matter said. Byju’s was valued at $22 billion the last time it raised funds, though the buyback may happen at a lower valuation, the people said, asking not …

Byju’s raises $250 mn through rights issue
2 years, 2 months ago

Byju’s raises $250 mn through rights issue

Live Mint  

Edtech major Byju’s has raised $250 million in a rights issue from its existing investors at a $22 billion valuation. Continued support from our esteemed investors re-affirms the impact created by us so far, and validates our path to profitability,” said Byju Raveendran, founder and chief executive of Byju’s. Besides these two, the Bengaluru-headquartered company is backed by Chan-Zuckerberg Initiative, …

Byju's May Raise $500 Million in Fresh Round of Funding Within a Week in Efforts to go Global
2 years, 3 months ago

Byju's May Raise $500 Million in Fresh Round of Funding Within a Week in Efforts to go Global

News 18  

Edtech firm Byju’s plans to raise Rs 3900 crore, which is roughly equal to $500 million in a fresh round of funding within a week, a report quoting sources privy to the development has said. The other overseas acquisitions of Byju’s include Singapore-based Great Learning for around $200 million and Austria’s mathematics operator GeoGebdra for approximately $100 million. Byju’s is …

Why is Byju’s laying off employees and delaying payments?
2 years, 5 months ago

Why is Byju’s laying off employees and delaying payments?

Live Mint  

Bengaluru-based largest ed-tech company, Byju's, is in news for two very different reasons in two different countries. India's $22 billion firm is making headlines in India for joining the layoff bandwagon by announcing the termination of 500 employees in WhiteHat Jr, 1,100 in Toppr and reports suggest the number may be as high as 2500 across its group of companies. …

Byju's in talks to acquire Chegg or 2U, Evaluating US-Based Firms' Financials; Know More
2 years, 7 months ago

Byju's in talks to acquire Chegg or 2U, Evaluating US-Based Firms' Financials; Know More

News 18  

Edtech major Byju’s is in talks with US-based edtech firms companies, Chegg and 2U, to acquire either of them, according to a Bloomberg report. As part of its domestic expansion, Byju’s last year in April had acquired test-prep leader Aakash Educational Services for nearly USD 1 billion to build the start-up’s position in the brick and mortar segment. Later, in …

BYJU’s To Raise $1.2 billion Through Term Loan B Funding; Know Details Here
3 years, 1 month ago

BYJU’s To Raise $1.2 billion Through Term Loan B Funding; Know Details Here

News 18  

BYJU’s, the world’s most valuable ed-tech start-up, currently at $18 billion, is in talks to raise $1.2 billion through a Term Loan B funding. A Term Loan B is funding sourced from global institutional investors that can foster a longer-term investment horizon than traditional banks. The acquiring drive of the company includes coding platform WhiteHat Jr., offline competitive exam preparation …

Byju's in talks to raise up to $1.5 billion after acquisition spree
3 years, 4 months ago

Byju's in talks to raise up to $1.5 billion after acquisition spree

India Today  

India’s leading edtech company Byju’s is in talks with several investors to raise approximately $1-$1.5 billion at a valuation of nearly $21 billion. The online tutoring company, which is the country’s most valuable startup, is reportedly seeking a 27 per cent jump from the earlier valuation of $16.5 billion, at which the company raised funds in June. In the past …

Byju's in talks with Toppr for potential acquisition, deal estimated to be about USD 120-150 million: Report
3 years, 10 months ago

Byju's in talks with Toppr for potential acquisition, deal estimated to be about USD 120-150 million: Report

India TV News  

India's largest edtech platform Byju's is in advanced talks with rival Toppr for a potential acquisition, according to sources. Sources close to the development said the deal is estimated to be about USD 120-150 million in size and could be closed in the next 2-3 weeks. Byju's, which has raised funding from marquee investors like Mary Meeker and Yuri Milner, …

Edtech Unicorn Byju's to Acquire Rival Toppr for $150 Million: Reports
3 years, 10 months ago

Edtech Unicorn Byju's to Acquire Rival Toppr for $150 Million: Reports

News 18  

India’s largest edtech startup Byju’s is in late-stage talks to acquire its rival Toppr for roughly $150 million, according to reports. The report further quoted sources as saying that Toppr was seen a formidable rival by Byju’s, and the acquisition will bolster the latter’s position in the edtech space. Ever since online education was moved almost exclusively online, Byju’s has …

Byju's to Acquire Testprep Firm Aakash Educational Services for $1 Billion: Report
3 years, 11 months ago

Byju's to Acquire Testprep Firm Aakash Educational Services for $1 Billion: Report

News 18  

Edu-tech major Byju’s has signed a deal with test preparation company Aakash Educational Services Ltd for $1 billion, according to reports. Byju’s is valued at $12 billion and has raised significant capital amid growing demand for online learning amid the covid-19 pandemic. The Bengaluru-based startup is backed by Facebook founder Mark Zuckerberg’s Chan Zuckerberg Initiative, Tiger Global Management and Bond …

Edtech Firm Byju’s Valuation Surges After It Receives $200 Million Fresh Investment
4 years, 1 month ago

Edtech Firm Byju’s Valuation Surges After It Receives $200 Million Fresh Investment

ABP News  

As online education has gained tremendous pace owing to pandemic with schools remaining shut for almost a year now, it has only led to the growth of businesses in the edtech space. On of the major players in the field, Byju's has raised $200 million in a fresh funding round from private equity players BlackRock and T. Rowe Price. The …

Edtech firm Byju’s to raise $200 million at $12 billion valuation
4 years, 1 month ago

Edtech firm Byju’s to raise $200 million at $12 billion valuation

Live Mint  

Bengaluru: Online education startup Byju’s is close to raising $200 million in a fresh funding round from American investment firms BlackRock and T. Rowe Price at a valuation of $12 billion, said a person familiar with the matter. The Bengaluru-based edtech firm had last raised $500 million in September from a group of investors including private equity firm Silver Lake …

Edu-tech Company Byju's Raises Rs 908.9 Crore from DST Global
4 years, 3 months ago

Edu-tech Company Byju's Raises Rs 908.9 Crore from DST Global

News 18  

India’s largest edu-tech company Byju’s is raising about Rs 909 crore in funding from billionaire Yuri Milner-led DST Global, according to regulatory documents. According to the documents filed with the Corporate Affairs Ministry by Byju’s, which is operated by Think and Learn Pvt Ltd, 20,622 shares will be offered to DSTG VII Investments-2-IN Ltd, 17,777 shares to DST Asia VII …

Fresh funding round values Byju’s at $10.5 billion
4 years, 4 months ago

Fresh funding round values Byju’s at $10.5 billion

Live Mint  

DST Global, the late-stage venture capital fund backed by Israeli-Russian billionaire Yuri Milner, is in advanced talks to invest around $400 million in online education platform Byju’s, said two people aware of the talks. Bengaluru-based Byju’s will look to raise an additional $200 million from existing investors apart from DST in the ongoing round, said one of the two people …

Byju’s: Billionaire Yuri Milner all set to invest $400 million in Indian education startup
4 years, 4 months ago

Byju’s: Billionaire Yuri Milner all set to invest $400 million in Indian education startup

Live Mint  

DST Global, the investment firm headed by billionaire Yuri Milner, is close to investing as much as $400 million in Indian online education startup Byju’s, according to a person familiar with the negotiations.The deal values Byju’s at $10.5 billion and could be signed as early as this weekend, said the person, who didn’t want to be identified as the talks …

Discover Related