Stay updated with the latest news and articles about Byju’s.
According to the people, there was rumor that Byju's would begin firing BTC staff on July 26 due to a significant decline in tuition center enrollment, which had spurred local business leaders to organize pan-India rallies.
BYJU’S constituted a advisory council which will play a pivotal role in advising and mentoring BYJU'S Board and its CEO, Byju Raveendran, on crucial matters that shape the company's future.
Byju's has been making headlines for various infamous reasons, one after the other pointing at operational failure and unwelcomed decisions of management. Let's take a look at what has happened till now.
Byju's recently organised a townhall meeting to address the concerns of its employees amidst the ongoing crisis triggered by the resignation of board members and auditor Deloitte.
Byju's has received $250 million from US-based alternative investment company Davidson Kempner Capital Management under a structured credit agreement.
The resignations of GV Ravishankar representing Peak XV Partners, earlier known as Sequoia Capital India and Russell Dreisenstock of Prosus can cause troubles for Byju's, which showed a valuation of $22 billion (nearly 1,80,350 crore) last year.
Byju has laid off 2,500 employees last October as it struggles to become profitable.
The edtech company was reportedly aiming to raise $1 billion from US-based asset management firms and Middle Eastern sovereign funds using a mix of stocks and structured instruments, according to a report from earlier this week.
Directorate of Enforcement (ED) conducted searches at three premises'-two Business and one residential- of Raveendaran Byju and his company in Bengaluru over alleged violation of the provisions of Foreign Exchange Management Act (FEMA), the ED said on Saturday.
If the deal goes forward, it will include a mix of cash and stock, with the merged entity proposing an IPO rather than Aakash acting alone to seek a public listing.
According to people familiar with the matter, Byju Raveendran, the founder of the world's most valuable edtech startup Byju's, is in financing talks to increase his stake in the company to as much as 40%.
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