Byju’s targets to be profitable by March 2024, may layoff 3,000-3,500 workforce
1 year, 5 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, online, and hybrid. The business restructuring, aimed at matching resources with cash flows, will see the company achieve break-even by coming March, in the fourth quarter of the current fiscal," a source said. BYJU'S booked a loss of ₹4,588 crore for the fiscal year ended March 31, 2021, 19 times more than the preceding fiscal.

Byju  crore  company  restructuring  profitable  workforce  targets  2024  fiscal  consolidation  31  30003500  source  layoff  set  byjus  target

History of this topic

Byju's CEO's 'not immediately, but eventually' reply to employee over unpaid salary
3 weeks, 5 days ago

Byju's CEO's 'not immediately, but eventually' reply to employee over unpaid salary

India Today  

Byju's CEO Byju Raveendran assured an employee that pending salaries, unpaid for the past three months, would be cleared, though not "immediately". His response came after an employee called him out in the comments section of the Byju's CEO's now-viral post on LinkedIn. He also called for a "thorough investigation" into alleged misconduct by the firm's lenders and financial advisors, …

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

Byju's journey from startup star to facing insolvency: All you need to Know
8 months, 2 weeks ago

Byju's journey from startup star to facing insolvency: All you need to Know

Business Standard  

The Indian cricket board last year asked a tribunal to initiate insolvency proceedings against Byju's for defaulting on $19 million of dues. Indian edtech company Byju's was staring at insolvency proceedings on Tuesday following a tribunal order, deepening a crisis that has seen the one-time market darling's valuation plunge from about $22 billion to less than $2 billion. Byju's has …

Byju Raveendran to sales staff amid crisis: ‘Your job is not to sell, but to…’
10 months, 3 weeks ago

Byju Raveendran to sales staff amid crisis: ‘Your job is not to sell, but to…’

Hindustan Times  

Byju's cut prices for its courses by up to 30 percent and rolled out flexible working policies for sales staff amid crisis, Moneycontrol reported citing people in the know. The edtech company's founder and CEO Byju Raveendran held a meeting with almost 1,500 sales associates and urged them to be more empathetic while selling courses rather than adopting the earlier …

Byju’s founder secures private debt to meet employee salaries amid financial strains, NLCT dispute, says report
11 months, 1 week ago

Byju’s founder secures private debt to meet employee salaries amid financial strains, NLCT dispute, says report

Live Mint  

With this, the edtech unicorn has now disbursed partial salaries for both February and March to employees after previous delays. Byju Raveendran, founder and CEO of Byju’s, has reportedly secured a private debt of approximately ₹30 crore to cover the March salaries of employees amidst financial challenges faced by the edtech company, Business Standard reported. {{^adFree}} {{/adFree}} NCLT Dispute - …

Byju's announces rejig of business; founder Raveendran to take over firm's daily operations
11 months, 2 weeks ago

Byju's announces rejig of business; founder Raveendran to take over firm's daily operations

The Hindu  

Byju Raveendran, the founder of the edtech company Think and Learn, which owns the Byju's brand, will handle the firm's day-to-day operations following the resignation of CEO Arjun Mohan, the company said on April 15. The company has also announced a major rejig of the business that will consolidate its business into three focused divisions - the learning App, online …

Byju’s begins salary payout for March after delay of two months: ‘Arranged an alternative line of credit’
11 months, 3 weeks ago

Byju’s begins salary payout for March after delay of two months: ‘Arranged an alternative line of credit’

Live Mint  

Edtech firm Byju's on Monday started paying salaries for March after delaying it for two months. In an e-mail sent to its employees seen by the Economic Times, the edtech company stated that it has arranged an alternative line of credit to pay salaries on time. Byju's-Investors dispute Byju's investors including Prosus NV, Peak XV Partners, General Atlantic, and Sofina …

Byju Raveendran's net worth is now zero from 17,545 crore in 2023: What happened?
11 months, 3 weeks ago

Byju Raveendran's net worth is now zero from 17,545 crore in 2023: What happened?

Hindustan Times  

Edtech company Byju's founder Byju Raveendran saw his wealth vanish, as per the latest Forbes Billionaire Index. Previously listed with a net worth of ₹17,545 crore, Byju Raveendran's worth in the 2024 Index shows him at zero amid challenges faced by Byju's which once had a peak valuation of $22 billion. Forbes noted, “Only four people from last year's list …

Byju’s delays March salaries, blames 'few misguided foreign investors'. Here's what the company told employees
11 months, 4 weeks ago

Byju’s delays March salaries, blames 'few misguided foreign investors'. Here's what the company told employees

Hindustan Times  

Byju's said that it will delay March salaries to its employees making it the third straight month when the edtech company struggled with disbursements. The company blamed 'foreign investors' for the financial woes, in an email to employees as it said that “a few misguided foreign investors in Byju's have obtained an interim order in late February which has restricted …

Byju’s delays salaries; says will pay Mar due on Apr 8
11 months, 4 weeks ago

Byju’s delays salaries; says will pay Mar due on Apr 8

New Indian Express  

BENGALURU: For three months now, cash-strapped edtech firm Byju’s has been struggling to pay salaries to its employees. A few misguided foreign investors in Byju’s have obtained an interim order in late February, which has restricted usage of the funds raised via successful rights issue. This irresponsible action by 4 foreign investors has compelled us to temporarily hold the disbursal …

Explained: From startup star to financial struggle, the rise and fall of Byju's
1 year ago

Explained: From startup star to financial struggle, the rise and fall of Byju's

India TV News  

Byju Raveendran, an engineer from Kerala, envisioned revolutionising education systems through his startup venture. The current downturn However, today, Byju's finds itself grappling with severe financial distress, struggling even to pay its employees' salaries. Unraveling the story Founded in 2003, Byju's initially gained traction by aiding friends in cracking the CAT entrance exam. Financial fiasco Reports suggested that Byju's faced …

Byju's gives up most office spaces in India, shifts to remote work
1 year ago

Byju's gives up most office spaces in India, shifts to remote work

Hindustan Times  

Edtech company Byju's has left all office spaces across India and is only retaining its headquarters at IBC Knowledge Park in Bengaluru. Bjyu's work from home rule Byju's has asked all employees to work from home indefinitely, except for those working out of approximately 300 Byju's Tuition Centres, it was reported. The company has taken the decision as part of …

Cash-strapped Byju's distributes part of salaries to employees: Report
1 year ago

Cash-strapped Byju's distributes part of salaries to employees: Report

Hindustan Times  

Cash-strapped edtech platform BYJU's has announced that it disbursed parts of pending salaries to all the employees for the month of February, promising to clear the balance once it is allowed to use the funds from the closed rights issue, Moneycontrol reported. In a letter to employees as seen by the website, BYJU's said it has processed part of salaries …

Setback for Byju's as Australia-based investor slashes valuation by 98%
1 year 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 woes shows failure to adjust to post-covid reality
1 year, 1 month 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 …

As Byju's CEO Raveendran faces ouster, edutech firm gets ₹2,500 crore push
1 year, 1 month ago

As Byju's CEO Raveendran faces ouster, edutech firm gets ₹2,500 crore push

Hindustan Times  

Byju's, in the middle of the intense financial crisis and pressure from lenders, got a commitment of $300 million from its investors for the upcoming rights issue, which has slashed the valuation of parent company Think and Learn by over 90 per cent from its peak. Byju's gets $300 million commitment from investors Investors have made a commitment of $300 …

Does the collapse of Byju’s mean the end of edtech?
1 year, 1 month ago

Does the collapse of Byju’s mean the end of edtech?

Live Mint  

Edtech giant Byju’s is struggling to meet salary and vendor payments. Claimed to be India’s first edtech unicorn, with valuation at its peak around March 2022, the company is now struggling to pay salaries. The issue, set to stay open for 30 days, suggests a stark reassessment of Byju's valuation of $22 billion as the company is willing to issue …

Byju's crisis explained: Why edtech firm, once valued at $22 bn, is witnessing financial downfall
1 year, 1 month 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 …

Byju's crisis: Investors seek ouster of founders, want to fire CEO Byju Raveendran
1 year, 1 month ago

Byju's crisis: Investors seek ouster of founders, want to fire CEO Byju Raveendran

Hindustan Times  

As many as six shareholders of Byju's parent company Think and Learn Private Limited have now moved a resolution to oust the founders from having control over the ed-tech firm in the midst of the financial crisis, reported PTI citing sources. In an extraordinary general meeting, the investors of Byju's have urged the consideration to oust all the founders from …

Shareholders ask Byju Raveendran to step down
1 year, 1 month 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 …

Byju’s no longer Unicorn; valuation falls 99% to $230mn
1 year, 2 months ago

Byju’s no longer Unicorn; valuation falls 99% to $230mn

New Indian Express  

BENGALURU: Edtech firm Byju’s will raise $200 million by way of a rights issue to achieve operational sustainability. This raising of funds through a rights issue comes at a time when the company has been struggling for the past 21 months to raise external capital. Byju Raveendran, founder of Byju’s said, “The funds raised will be exclusively utilized to clear …

Once a unicorn, Byju's slashes valuation by 90% to raise funds as it files financials after 22-month gap
1 year, 2 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
1 year, 2 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 …

Byju’s delays Nov salary of around 1000 employees, cites ‘technical glitches’
1 year, 3 months ago

Byju’s delays Nov salary of around 1000 employees, cites ‘technical glitches’

Live Mint  

Edtech startup Byju's has delayed the salary of around 1000 employees due to an ‘unexpected technical glitch’. The troubled edtech company however insisted earlier this week that the ED notice pertained to technical issues such as delay in filing Annual Performance Reports with respect to foreign direct investment of ₹8,000 crore. According to a Bloomberg report quoting unnamed sources the …

Byju’s says it’s in talks with BCCI to settle pending insolvency issue
1 year, 4 months ago

Byju’s says it’s in talks with BCCI to settle pending insolvency issue

Live Mint  

Mumbai: Byju’s, the ed-tech firm on Tuesday said it is in talks with the Board of Control for Cricket in India to settle a pending insolvency matter filed against it in Bengaluru National Company Law Tribunal. “We are in discussions with Board of Control for Cricket in India to settle the matter and we hope to achieve that soon,” said …

Byju’s to sell Epic, Great Learning to repay $1.2 bn loan
1 year, 6 months ago

Byju’s to sell Epic, Great Learning to repay $1.2 bn loan

Live Mint  

MUMBAI : Byju’s has put up kids’ reading platform Epic and higher education platform Great Learning for sale, three people aware of the development said, as the edtech giant tries to raise money and pay off a $1.2 billion loan it raised in November 2021. The two assets may together fetch Byju’s around $800 million to $1 billion, which will …

From layoffs to legal hurdles: What's going on at Byju's?
1 year, 9 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, 9 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, 9 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, 9 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, 9 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 layoffs | Edtech giant mulls fresh round of job cuts, likely to fire 1,000 employees: Report
1 year, 9 months ago

Byju's layoffs | Edtech giant mulls fresh round of job cuts, likely to fire 1,000 employees: Report

India TV News  

Byju's layoffs: In a fresh bit to cut costs, India's largest edtech company, Byju's is expected to lay off around 1,000 more employees. The report further stated that the company's latest decision was imminent in the aftermath of Byju's failure to make a quarterly interest payment of roughly $40 million on a $1.2 billion term loan B. Byju's fired around …

ED seizes ’incriminating data’ of Byju’s over alleged forex law violations
1 year, 11 months ago

ED seizes ’incriminating data’ of Byju’s over alleged forex law violations

Live Mint  

According to a statement made earlier today by the Directorate of Enforcement, three Bengaluru premises related to the education platform Byju and its billionaire CEO Byju Raveendran have undergone searches and seizures for possible violations of the nation's foreign exchange rules. The searches under alleged foreign exchange law violations revealed that Think and Learn Private Limited, Byju's parent firm, had …

Byju's Lenders Want $200 Million Prepayment Over Restructuring $1.2-Billion Loan : Report
1 year, 11 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’s in funding talks with TPG, sovereign funds as debt weighs
2 years, 1 month 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 …

Byju's lays off 1,500 employees, cites cost optimisation and outsourcing of operations
2 years, 1 month ago

Byju's lays off 1,500 employees, cites cost optimisation and outsourcing of operations

Hindustan Times  

Byju's has laid off around 1,500 employees, with those let go accounting for 15% of the company's existing workforce, according to media reports. In October last year, the edtech giant laid off 2,500 employees “Byju's has fired around 1,500 employees citing cost optimisation and outsourcing of operations. The company is planning to outsource some functions in areas such as operations, …

Byju’s fires 1,500 staff; senior execs also hit
2 years, 1 month ago

Byju’s fires 1,500 staff; senior execs also hit

Live Mint  

NEW DELHI : Tiger Global-backed Byju’s has fired about 1,500 employees, including senior executives, in the second layoff exercise by India’s most valuable startup in about four months, said four people familiar with the matter. A senior official at Byju’s and one of the four people cited above said the new round of firings were planned in October itself. The …

Edtech firm Byju’s lays off nearly 1,500 employees
2 years, 1 month ago

Edtech firm Byju’s lays off nearly 1,500 employees

Live Mint  

Edtech unicorn Byju's has laid off nearly 1,500 employees, in another round of layoffs according to media reports. Byju’s has fired around 1,500 employees citing cost optimization and outsourcing of operations, four people familiar with the matter, told Mint. Byju’s founder and chief executive officer Byju Raveendran in October had assured employees that no further layoffs beyond the planned 2,500 …

Byju Raveendran writes about the ‘storm’ Byju’s survived in 2022
2 years, 3 months ago

Byju Raveendran writes about the ‘storm’ Byju’s survived in 2022

Live Mint  

Byju Raveendran summarised his feelings on the year 2022 by using a passage from the 2002 book Kafka on the Shore by Japanese author Haruki Murakami. That’s what this storm’s all about.” Byju's founder sent a year-end email to his staff members. However, the company broke records in terms of ambition and execution, creating India's largest physical distribution networks for …

Unacademy Lays Off 350 Employees In Its Third Round Of Job Cuts In A Year: Report
2 years, 4 months ago

Unacademy Lays Off 350 Employees In Its Third Round Of Job Cuts In A Year: Report

ABP News  

Unacademy, the SoftBank-backed edtech unicorn, has sacked 10 per cent of its workforce or about 350 employees in third such round of layoffs within a year, according to several news reports. In an internal email sent to the employees, Unacademy Co-founder and Chief Executive Officer Gaurav Munjal said the restructuring exercise would affect about 10 per cent of employees across …

Byju’s finalising plans for ₹8,000 crore IPO of Aakash Educational Services
2 years, 4 months ago

Byju’s finalising plans for ₹8,000 crore IPO of Aakash Educational Services

Live Mint  

India’s most valuable startup, online-education giant Byju’s, is finalizing plans for a $1 billion initial public offering of its tutoring business Aakash Educational Services, according to people familiar with the matter. The company is in talks with at least four foreign banks -- JPMorgan Chase & Co., Citigroup Inc., Goldman Sachs Group Inc. and Morgan Stanley -- as well as …

Byju Raveendran pens emotional farewell note to sacked staff
2 years, 4 months ago

Byju Raveendran pens emotional farewell note to sacked staff

Live Mint  

Edtech unicorn Byju’s founder sought forgiveness from the 2,500 employees who are in the process of being fired by the edtech, as it pursues a plan to achieve profitability by the end of FY23. We are having to part ways with 2500 of our colleagues,” chief executive and founder Byju Raveendran wrote in an internal letter to employees on Monday. …

Byju’s borrows ₹300 cr from Aakash for ’principal business activities’
2 years, 5 months ago

Byju’s borrows ₹300 cr from Aakash for ’principal business activities’

Live Mint  

Byju's, world's most valuable edtech startup, is all set to take an unsecured loan of ₹300 crore from its subsidiary Aakash Educational Services for 'principal business activities.' In its latest filing with ministry of corporate affairs, Aakash Educational Services said that it is granting an unsecured loan of ₹300 crore to Think & Learn, which operates Byju's, which is subject …

Byju’s raises $250 mn through rights issue
2 years, 5 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 to fire 2,500 employees in next six months as it chalks out plan to become profitable
2 years, 5 months ago

Byju’s to fire 2,500 employees in next six months as it chalks out plan to become profitable

Firstpost  

Byju’s co-founder Divya Gokulnath told PTI that the company will start focussing on building brand awareness overseas through new partnerships and hire 10,000 teachers for India and overseas business New Delhi: Edtech major Byju’s has chalked out a plan to become profitable by March 2023 to optimise its marketing and operational cost, which will lead to retrenchment of 5 per …

Byju’s to layoff 5% employees to become profitable: 10-point cheat-sheet
2 years, 5 months ago

Byju’s to layoff 5% employees to become profitable: 10-point cheat-sheet

Live Mint  

India's ed-tech unicorn Byju’s is laying off 2,500 employees in an attempt to become profitable by March 2023. This move comes after Byju's witnessed a significant drop in its demand despite the pandemic increasing the need for online classes as nationwide lockdown had forced schools and colleges across India to shut down for a couple of months. The 5% layoff …

Byju’s looks to lay off about 2,500 employees
2 years, 5 months ago

Byju’s looks to lay off about 2,500 employees

Live Mint  

Edtech unicorn Byju’s on Wednesday said it will lay off 2,500 employees accounting for 5% of its workforce, over the next six months, as it aims to become profitable by March 2023. These measures will help us achieve profitability in the defined time frame of March 2023,” said Mrinal Mohit, chief executive of Byju’s India business. Byju’s also said it …

Byju’s to fire 2,500 staff, designs mega plan to turn profitable by March 2023
2 years, 5 months ago

Byju’s to fire 2,500 staff, designs mega plan to turn profitable by March 2023

Live Mint  

Byju's announced on October 12 that it had planns to turn profitable by March 2023. In September, due to rising promotion and labour costs, The Tiger Global-backed edtech company recorded a loss of ₹4,588 crore for the 2021 fiscal year. Byju's has developed a plan to reduce its marketing and operating costs in order to turn a profit by March …

Byju's clears USD 230 million dues to Blackstone for Aakash acquisition
2 years, 6 months ago

Byju's clears USD 230 million dues to Blackstone for Aakash acquisition

India TV News  

Edtech firm Byju's has cleared the USD 230 million payment that was due to private equity investment firm Blackstone for acquiring a majority stake in test preparatory firm Aakash Educational Services, according to sources privy to the development. "Byju's paid USD 230 million to Blackstone for acquiring a stake in Aakash," the source told PTI. Payment to Blackstone and non-closure …

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