Page 14 - Byju's

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 makes a surprise $1.2 billion repayment proposal to lenders

Byju's and its lenders have been mired in a conflict for almost a year, during which rounds of negotiations to revamp its loan agreement have failed

Funding into edtech sector plunges 48% in 2023 due to decreased demand

Experts said that the demand-supply mismatch between teachers and course availability in offline education is expected to fuel the growth in the sector in the coming years

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

WhiteHat Jr CEO Ananya Tripathi quits in another top-level exit at Byju's

Tripathi, who has been on maternity leave since May, has decided to quit. However, Byju's is yet to formally acknowledge her resignation

Edtech giant Byju's CBO Prathyusha Agarwal, two senior executives quit

These exits come at a time when the most valuable edtech company has been trying to address challenges such as due diligence issues, legal battles with lenders, challenges in raising fresh capital

Byju's business head Prathyusha Agarwal resigns amid reorganisation

Agarwal had joined Byju's in February 2022 from Zee Entertainment Enterprises. Two other business heads - Himanshu Bajaj and Mukut Deepak - have also left, the company

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

In fresh round of layoffs, edtech giant Byju's lets go of 100 employees

His appointment coincides with a difficult period for Byju's, once heralded as the most valuable edtech company but now making headlines for the wrong reasons

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

Byju's ropes in former Infosys senior exec Richard Lobo for HR functions

Edtech major BYJU's on Monday said it has roped in former senior executive of IT company Infosys, Richard Lobo, to drive the company's human resource functions. Lobo joins BYJU's after a 23-year career at Infosys, where he held various leadership roles, most recently serving as its EVP and Head of Human Resources, the edtech firm said in a statement. "His extensive experience and leadership in HR will be instrumental in further enriching our work culture and ensuring that the welfare of our team members remains at the core of every decision we take," BYJU's Founder and CEO Byju Raveendran said. "I'm excited to take on this pivotal role and work closely with the team at BYJU's to build on their achievements, and help transform the organisation to be future ready," Lobo said. Richard joined Infosys in 2000. He is credited with bringing technology and analytics to the HR function as Infosys scaled to become a global leader in technology and consulting, the statement said.

Byju's hires Infosys veteran Richard Lobo to steer human resources function

Lobo joins Byju's after a 23-year career at Infosys, where he held various leadership roles, most recently serving as its EVP and Head of HR

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Byju's lenders accused of using bogus loan-default claims to gain control

The distressed-debt lenders are "playing hardball" to create leverage in negotiations to restructure the loan and causing problems for Byju's executives

Byju's misses August 3 deadline to rework $1.2 billion loan terms

Byju's said no deadline had been missed as "August 3 was merely a hopeful date that was likely to be scheduled for a sign off"

Byju's Aakash unit forced to rework board after breaching loan agreement

Davidson Kempner, which manages more than $38 billion, forced the changes in Aaksah's board as the borrower was in breach of some covenants on a $250 million loan

Troubled Byju's misses target to amend its $1.2 billion loan terms

The company failed to decide on revisions sought by lenders in the loan's terms, including part repayment and higher interest payment

ICAI refers edtech firm Byju's matter to its disciplinary committee

The FRRB under ICAI has the power to review general-purpose financial statements of enterprises and auditor's report

Amid chaos at Byju's, what is the other side of startup ethics debate?

The goings on at Byju's and some other startups raise questions of not only governance but also the board's role