Page 16 - Byju's

Byju's crisis prompts top India VC firm Blume Ventures to shift strategy

Perceived corporate governance lapses are sending shockwaves through the South Asian nation's fledgling startup economy

Byju's CEO speaks to shareholders, firm to set up board advisory committee

Committee will advice CEO on governance structure, says source about edtech giant's plans

Promoters re-invested entire amount raised via secondary share sale: BYJU's

Edtech major BYJU'S on Tuesday said its promoters have re-invested the entire amount raised by them through secondary sale of shares in the company. According to private market intelligence firm PrivateCircle Research, BYJU's promoters -- Byju Raveendran, Divya Gokulnath and Riju Ravindran -- have together sold shares worth around USD 408.53 million in 40 secondary transactions since 2015. "The promoters of BYJU'S have reinvested the entire amounts raised from secondary sales into the business for purposes of scaling it over the years," BYJU'S said in a statement. The statement came in the backdrop of the report of the intelligence firm. PrivateCircle said Raveendran holds 15.90 per cent, whereas Divya Gokulnath and Riju Ravindran have 3.32 per cent and 1.99 per cent, respectively. "Promoters' shareholding in the company has been gradually dropping since 2016. First significant drop was between 2015-2016, when the promoters stake dipped from 71.6 per cent to 54.7 per cent and lat

Byju's promoters have sold stake worth $408.5 mn since 2015-16: Report

This has taken the promoter shareholding in Byju's to 21.2 per cent currently from 71.6 per cent in 2015-16

Amid deep financial crisis, Byju's and Shah Rukh Khan may part ways

In 2017, Byju's signed Shah Rukh Khan for an annual payment of around Rs 4 crore

TMS Ep467 - Byju's, monsoon tourism, market rally, Uniform Civil Code

Has Byju's finally acknowledged its problems? Is monsoon tourism bad for Indian hills? Which risks could derail market rally in H2-CY23? What is Uniform Civil Code? All answers here

Edtech start-up Byju's and lenders renew talks to restructure $1.2 bn loan

Byju's and its lenders have been mired in a conflict for several months following rounds of failed negotiations to revamp its loan agreement

The Byju's story: What is ailing India's once booming start-up sector?

While Byju's has stumbled and may well fall, one must hope that most start-ups learn to thrive in the changed context. The economy would be much less vibrant without them, writes T N Ninan

Edtech giant Byju's to raise funds by paring stake in subsidiary Aakash

According to a media report by ET Now, Byju's parent firm Think & Learn is planning to sell almost 20 per cent stake in the company

Edtech giant Byju's seeks investors for Aakash Education stake: Report

The company bought Aakash Education for $950 million in 2021

Artificial intelligence: Why India risks falling behind in the tech race

India's startup landscape is caught in a time warp, with embarrassed investors marking down their stakes in Byju's, an online education company collapsing under the weight of its own reckless growth

No, Byju, it is about more than your life

A tutorial for EdTech to go back to the elementary

Rise above the noise: Byju Raveendran talks 'struggles', not layoffs

Edtech is not a pandemic phenomenon but a permanent fixture, CEO says in townhall

Kempner reviews $250 million loan to edtech firm Byju's amid crises

The firm is reviewing its lending decision after the company lost its auditor and three board members in the same week

Turmoil at Byju's highlights hurdles for India's startup ecosystem

Already stuck in a 15-month funding slump, India's young companies are in danger of becoming collateral damage to the country's highest-profile startup crisis in years

Top headlines: Adani cos under Sebi lens, TCS on foreign remittances

Business Standard brings you the top headlines at this hour

Court rejects Byju's TLB lenders' request to investigate $500 mn transfer

A Delaware court has rejected a request by edtech major BYJU'S Term Loan B lenders to investigate into USD 500 million transfer from its US-based subsidiary BYJU'S Alpha to other entities, according to details shared by sources. BYJU'S had denied allegations levelled by its USD 1.2 billion Term Loan B lenders, saying it has never defaulted on the payments. "Rejecting the lenders' application for information in relation to the USD 500 million (part of the funds received by BYJU'S Alpha), the Vice Chancellor remarked that lenders had "no basis to further investigate the transfer," the sources said. In doing so, the Vice Chancellor has put a stop to the lenders' unwarranted fishing expedition and attempted to introduce a non-issue into the proceedings, which is limited to determining the control of BYJU'S Alpha," a source said. TLB Lenders, through their agent, GLAS Trust Company, have filed suit against BYJU'S US-based subsidiary for moving out USD 500 million from BYJU'S Alpha and o

Prosus NV slashes valuation of edtech giant Byju's to $5.1 billion

Prosus had downsized the value of its 9.6% stake in Byju's to around $493 million in the financial year ended March 31, the report added

Edtech giant Byju's seeks to raise $1 billion to stave off investor revolt

The education startup is offering benefits to the potential investors, including preferential treatment in the case of liquidation, the report said

Byju says firm's $22 billion valuation intact, accepts past mistakes

Raveendran told the shareholders that discussions were on for several weeks regarding the reconstitution of the board to strengthen processes