Stay updated with the latest news and articles about Byju’s.
Blackstone Inc. has received a payment from Byju's of 19 billion rupees ($234 million), made on Thursday, for a 38% investment in the learning centre network Aakash that Blackstone now owns.
The borrowing comes as India’s most valued startup is looking to refinance itself after spending over $2.2 billion on an acquisition spree this year.
As reported by Moneycontrol, this move is in line with the right other acquisition, this being the nine one for the ongoing fiscal year of 2021.
The online education provider Byju's could close the pre-IPO fundraising at a valuation of about $21 billion.
He said that currently Vedantu was expanding three times each year and they had no plans to be bought and any suggestions of their purchase would be just fictional. He added to say that they would be continuing to construct Vedantu.
In a regulatory filing, the firm stated that BYJU's has acquired six startups in 2021 across India and the US.
The acquisition marks the company's foray into the North American market where it will be investing the sum of a billion dollars over the next two years.
Byju’s is one of the most paramount educational startups in the country and it was launched in 2015.
Leading online learning platform Byju’s has raised $500 million as it is now funded by US-based private equity Silver Lake by an $11 Billion Valuation. Byju’s is also funded by many other investors which include General Atlantic, Owl Ventures and Tiger Global.
WhiteHat Jr is an Edtech startup that focuses on teaching coding to children from ages 6-18.
With Chinese company VIVO withdrawing from IPL Sponsorship, Indian companies compete for the position.
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