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Byju's income grew to Rs 5,298.43 crore in FY22. But its losses widened to Rs 8,245.2 crore in FY22. Its total expenses for FY22 rose by 94 per cent to Rs 13,668.44 crore
"To be clear, this fight is only against a few vested interests who were trying to sabotage the company by impeding the rights issue," CEO Raveendran said in a letter addressed to the employees
The edtech company responded to statements from select investors calling for an extraordinary general meeting (EGM) to replace founder and group CEO Byju Raveendran
Byju's is facing multiple challenges, including a cash crunch, delays in financial reporting and legal disputes with lenders
At least six BYJU's investors have called for an Extraordinary General Meeting (EGM) to address issues at the edtech major and oust founders from having control over the firm
US unit of Indian education technology startup Byju's has filed for Chapter 11 bankruptcy proceedings in the U.S. court of Delaware, listing liabilities in the range of $1 billion to $10 bn
The current board of Byju's parent Think and Learn mainly consists of Raveendran, his wife and Byju's co-founder Divya Gokulnath, and his brother Riju Ravindran
'We are deeply concerned about the future stability of the company under its current leadership and with the current constitution of the Board,' the shareholders said in a statement
This is the first time shareholders have banded together to issue a statement calling for a change in leadership at Byju's
Byju Raveendran said that Byju's is now less than a quarter away from achieving operational profitability
The company has taken various measures to improve the company's operating financial conditions including scaling down the underperforming businesses significantly
Subsidiaries WhiteHat Jr, Osmo contributed to 45% of losses
The company is focusing on rebuilding its core business and will double down on recent attempts to jump on to the next big bandwagon in education
The group is facing an acute liquidity crunch. Amid mass layoffs and deep losses, the former billionaire founder has sold his homes to pay salaries
From Hindenburg's report on the Adani Group to the signing of the biggest aircraft orders by Air India and Indigo, India saw several important corporate news in 2023. Here are the 10 most significant
In May 2021, Code.org announced the signing of a licensing agreement with WhiteHat Jr, which at that time was providing tutoring services to over 175,000 students worldwide
Shareholders call for board rejig so that they can have a bigger say in ops
Byju's says FY22 earnings were approved at the AGM as well as the reappointment of BDO as the statutory auditors of the company.
'Rise and fight alongside me': Founder of beleaguered edtech company tells meeting of senior executives, says source