A group of BYJU’s investors want the company’s founders to be sacked. Around six investors in Think and Learn Private Limited, which operates under BYJU’s brand, have reportedly called for an extraordinary general meeting to address issues at the edtech major. The agenda includes oust founder Byju Raveendran from having control over the company, sources …
Byju’s, the world’s most valuable edtech startup, has cut its valuation ask by 99% in a rights issue it launched Monday as the Indian firm works to address its working capital needs. The startup is looking to raise $200 million in the rights issue, a capital it said is “essential to prevent any further value …
Investment giant Prosus has written down the valuation of edtech giant Byju’s to below $3 billion, marking a steep drop from the $22 billion valuation the Indian startup hit just early last year. Byju’s is facing many “challenges” and Prosus and other backers are working alongside to aid the Bengaluru-headquartered startup’s recovery, Prosus interim chief …
India’s Enforcement Directorate, its anti-money laundering agency, has found that Byju’s violated the nation’s foreign exchange law to the tune of $1.08 billion, a person familiar with the matter told TechCrunch. The findings, which ED plans to make public as early as Tuesday, follows the agency searching the premises of Byju’s and its founder Byju …