Page 7 - Latest Updates on Byju Raveendran
Byju's founder Raveendran pledges homes to raise funds for staff salaries
Two homes owned by Raveendran's family in Bengaluru, in southern India, and his under-construction villa in Epsilon, a plush gated community in the city, were offered as collateral to borrow $12 mn
 "Byju's founder Raveendran pledges homes to raise funds for staff salaries")
Lessons from ED's crackdown on Byju's, Xiaomi to strengthen compliance
Experts are also of view that severe fines, penalties will push companies and startups to ensure their adherence to the regulatory framework when accepting foreign investments and issuing remittances
 "Lessons from ED's crackdown on Byju's, Xiaomi to strengthen compliance")
Edtech firm BYJU'S appoints Jiny Thattil as Chief Technology Officer
This transition is part of BYJU'S ongoing strategic restructuring and reorientation of its leadership team to enhance operational efficiency, the statement said
 "Edtech firm BYJU'S appoints Jiny Thattil as Chief Technology Officer")
Life with Pai: What does Ranjan Pai's re-entry mean for Byju's and Aakash?
Given the past and the present, it was not a surprise that early this year Raveendran reached out to Pai and the outcome has been prompt
 "Life with Pai: What does Ranjan Pai's re-entry mean for Byju's and Aakash?")
Core business loss at edtech giant Byju's may only be tip of iceberg
The financials announced by Byju's are based on an 'unqualified FY22 audit' that indicates the auditor is satisfied with the company's financial reporting
 "Core business loss at edtech giant Byju's may only be tip of iceberg")
Will soon begin audit process for FY23: Byju's CEO Raveendran tells staff
Byju's parent firm Think and Learn reported 2.3 times growth in its core business to reach a total income of Rs 3,569 cr for FY2021-22, and a loss of Rs 2,253 cr y-o-y
 "Will soon begin audit process for FY23: Byju's CEO Raveendran tells staff")
Byju's core business sees 2.3x revenue growth, Rs 2,253 cr net loss in FY22
The financials revealed by Byju's are based on an 'unqualified FY22 audit'; it will file the financials with MCA in the next few weeks, according to the sources
 "Byju's core business sees 2.3x revenue growth, Rs 2,253 cr net loss in FY22")
Manipal Hospitals's Pai offers Rs 300 crore loan facility to Byju's parent
A source told Mint that Pai's total investment in the group might reach $300 million if the deal is finalised
 "Manipal Hospitals's Pai offers Rs 300 crore loan facility to Byju's parent")
Byju's to present FY22 financials at board meet amid investor concerns
The edtech firm is yet to file its FY22 results with Registrars of Companies and this delay has been a key concern among investors as well as the lenders
 "Byju's to present FY22 financials at board meet amid investor concerns")
Focused on cutting costs, Byju's to skip campus placements this year
Even if Byju's were to visit their campuses, it is unlikely that students would be keen to sit for their placements, an official aware of the matter said
Byju's elevates Arjun Mohan as CEO of India business, Mrinal Mohit quits
Arjun Mohan, a member of the founding team who most recently served as the Chief Business Officer, has rejoined the company after a stint at Ronnie Screwvala-led UpGrad
 "Byju's elevates Arjun Mohan as CEO of India business, Mrinal Mohit quits")
Byju's changing fortunes: From buying spree to selling crown jewels
The valuation of the company led by Byju Raveendran jumped to $15 billion by April 2021. Raveendran used the funds to acquire some 20 companies worldwide
Byju's puts Epic, Great Learning on sale to raise $800 million-$1 billion
Byju's is hoping to earn between $400-$500 million from the sale of Epic, which is a US-based kids' learning company
Byju's and lenders postpone legal battle, aim for out-of-court settlement
The parties are working on reaching a forbearance agreement, and discussions are still ongoing
 "Byju's and lenders postpone legal battle, aim for out-of-court settlement")
Baron Capital nearly halves Byju's valuation, marks up Swiggy, Pine Labs
Byju's was last valued at $22 billion when it raised $250 million from Qatar Investment Authority in October last year
Byju's top executive Cherian Thomas quits, joins Impending Inc as CEO
Thomas played an integral part in setting up the US operations at edtech giant Byju's and was also responsible for spearheading the business of Byju's owned educational gaming firm Osmo as its CEO
 "Byju's top executive Cherian Thomas quits, joins Impending Inc as CEO")
Weekend Bites: E-transport, falling rupee, moon shot, and horror in court
In which we munch over the week's platter of news and views
 "Weekend Bites: E-transport, falling rupee, moon shot, and horror in court")
TMS Ep490: Manipal help Byju's, August rains, markets, full-service airline
Will Manipal be Byju's white knight? Can below-normal August rains affect food inflation? How should you trade in a range-bound market? How is low-cost airline different from a full-service airline?
 "TMS Ep490: Manipal help Byju's, August rains, markets, full-service airline")
Byju's sends legal notice to Aakash founders demanding share transfer
Education technology startup Think and Learn Pvt Ltd, which operates under brand name Byju's, has sent a legal notice to founders of Aakash Educational Services
Will 'significantly' mark down Byju's valuation: Peak XV Partners
This is the first time investors have externally flagged financial and corporate irregularities at the edtech firm
 "Will 'significantly' mark down Byju's valuation: Peak XV Partners")
