Byjus
Karnataka HC restrains Byju Raveendran from alienating property assets
The court’s order followed a petition by Qatar Holding, a subsidiary of the sovereign wealth fund of Qatar, which is seeking to enforce a $235 million arbitral award against Raveendran and his investment firm. The claim also has an interest component of 4% per annum, compounded daily, from February 28 last year until the payment is made, the counsel representing Qatar Holding said during the hearing. The accrued interest on the $235 million arbitral award now amounts to $14 million.
PhysicsWallah files updated papers for Rs 3,820 crore IPO, Alakh Pandey, Prateek Maheshwari to pare stake
PhysicsWallah (PW) has filed its updated draft red herring prospectus (UDRHP) with Sebi, aiming to raise Rs 3,820 crore through a mix of fresh issue (Rs 3,100 crore) and an offer-for-sale by its cofounders Alakh Pandey and Prateek Maheshwari (Rs 3,600 crore each).
Dream 11 out, BCCI hunts for next big hitter
The Board of Control for Cricket in India aims to secure ₹452 crore via front-of-jersey sponsorship. This follows Dream 11's exit due to government regulations. The sponsorship covers 140 matches from 2025-28. BCCI seeks ₹3.5 crore per bilateral match and ₹1.5 crore for ICC/ACC events. Despite limited time before the Asia Cup, strong sponsor interest is anticipated.
Qatar Investment Authority moves Karnataka HC to enforce $235 million award against Byju Raveendran
The Qatar fund has also claimed interest at 4% per annum on $235 million, compounded daily, from February 28 last year until the date of payment. The accrued interest amounts to $14 million. In 2022, Qatar Holding had provided $150 million to BIPL, a loan personally guaranteed by Raveendran. This money was partly used to acquire 1.78 crore shares in Aakash Educational Services. However, despite a restriction on transferring those shares, Raveendran moved these to another Singapore-based entity controlled by him.
Amazon completes $200 million cash acquisition of Axio, adds an NBFC licence via deal
While the company did not disclose the deal size, sources pegged it at around $200 million, with all the existing investors of Axio making an exit and the founders continuing to run the show.
Girish Mathrubootham exits Freshworks: A timeline of the SaaS major’s 15-year journey
The vision of the founder of the company is summed up in one of his posts: “I wanted us to think and act like a global company even if we were still a team of 10.” Per its website, the provider of enterprise-grade, AI-assisted service software has served more than 73,000 customers in over 120 countries.
Dream11, BCCI end jersey sponsorship after online gaming ban
The BCCI has confirmed the conclusion of its ₹358-crore jersey sponsorship agreement with Dream11. This decision follows the enactment of the Promotion and Regulation of Online Gaming Bill, 2025, which led Dream11 to discontinue its real money gaming activities. BCCI Secretary Devachit Saikia stated that the board will refrain from associating with similar organizations in the future.
From Sahara to Dream11: Harsh Goenka calls India's cricket jersey as 'real brand survival test'
Harsh Goenka's comment highlights the risks of sponsoring the Indian cricket team. Dream11 ended its jersey deal after a new gaming law. Many past sponsors like Sahara and Byju's faced financial or legal issues. The Board of Control for Cricket in India seeks a new sponsor for the Asia Cup. Despite the 'jersey jinx,' the sponsorship remains highly desirable.
The ET Startup Awards 2025: elite jury to pick winners on August 28
Happy Tuesday! The ETtech team has been neck-deep preparing for the past few months to bring you the 11th edition of The Economic Times Startup Awards (ETSA). Today, we are unveiling the elite jury and nominees for two more categories — Woman Ahead and Social Enterprise.
Byju’s founders plan $2.5 billion lawsuit against Glas Trust, others for reputational damage
The lenders will be sued in Indian and overseas courts. Meanwhile, the group of lenders has filed a case in a US bankruptcy court against Raveendran, Divya Gokulnath, and former Byju’s chief strategy officer Anita Kishore, accusing them of co-orchestrating and executing a scheme to “conceal and steal $533 million of loan proceeds” from a $1.2 billion loan taken by Byju’s US arm, Alpha.
Supreme Court rejects BCCI, Byju’s plea to withdraw insolvency case
The Supreme Court on Monday dismissed appeals by the Board of Control for Cricket in India (BCCI) and Byju’s co-founder Riju Raveendran seeking to withdraw the corporate insolvency resolution process (CIRP) against Think & Learn, the parent company of Byju’s.
Byju Raveendran denies making secret payments to government officials to resolve FEMA cases
Byju Raveendran, founder of Byju's, refuted allegations in a Delaware court by Glas Trust's counsel, who accused him of negotiating unofficial payments with Indian officials. Raveendran denies these claims, calling them baseless and aimed at influencing court orders. He highlights that he wasn't a party to the case and couldn't defend himself against these accusations.
Wipro’s Q1 report; Former Nexus MD’s new fund
Happy Friday! IT major Wipro reported an 11% rise in net profit, just ahead of Street expectations. This and more in today’s ETtech Morning Dispatch.
Top tech and startup stories this week
Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
EY-backed RP sues Byju’s Dubai-based marketing agent for Rs 1,597 crore
Think and Learn, facing insolvency, is suing Dubai-based More Ideas General Trading for Rs 1,597 crore over alleged unpaid dues. The lawsuit also implicates Byju Raveendran and other former directors. Byju's founders dispute the claims, alleging the resolution professional is trying to divert attention from their challenges to the insolvency proceedings and GLAS Trust's authority.
US bankruptcy court says Byju’s founder failed to comply with order
The court has further directed Raveendran to comply with the discovery orders. “Raveendran shall remit to the clerk of court the sum of $10,000 for each day he remains in contempt of the orders,” it said. In American legal parlance, the term ‘discovery’ refers to the process by which parties obtain evidence and information from the other party.
US court holds Byju in contempt; Apple’s new India-born COO
A US bankruptcy court has held Byju Raveendran in civil contempt for ignoring multiple court orders tied to Byju’s US unit. This and more in today’s ETtech Top 5.
Udaan buys ShopKirana; Paytm Money’s new CEO
B2B platform Udaan has acquired retail tech startup ShopKirana. This and more in today’s ETtech Top 5.
Aakash Educational Services sends another legal notice to EY
Aakash, in which Think & Learn holds a minority stake, accused EY of conflict of interest and professional misconduct. The notice alleged that the consultancy firm has been involved in its financial operations since 2021 while also working as an “exclusive financial advisor and official result validator” for its rival, Allen Career Institute.
Byju’s US assets Epic and Tynker sold for a song
Computer science education company CodeHS has acquired Tynker for $2.2 million in cash, a significant drop from the $200 million that Byju’s paid in a cash-and-stock deal to acquire it in 2021. Epic, which was acquired by Byju’s in 2022 through a $500-million cash-and-stock transaction, has been sold to China's TAL Education Group for $95 million.
Byju’s investors vote to oust CEO Raveendran
Investors in Byju's led by Prosus filed a petition at NCLT alleging oppression and mismanagement by the present management of Byju’s. They seek to remove Raveendran as CEO, overhaul the board, conduct a forensic audit, and declare the rights issue invalid.
Byju’s lenders win fight over loan default, control of unit
Lenders have been pushing hard for the repayment of the $1.2 billion loan amid the company’s mounting distress after a pandemic-era boom in online learning fizzled out. Byju’s had been working to sell assets and deal with the loan issue when government investigators searched company offices this year.
Byju’s under fire: our top stories covering controversies surrounding the edtech major
Byju’s, Indian highest-valued startup, had a torrid 2022 thanks to a series of controversies over its financials, unpaid loans, governance and layoffs, among other things. The ETtech team kept a close eye on all the developments surrounding Byju’s. Here are five-must read stories:
Fire sale at Byju’s; Meesho’s pre-IPO move
Troubled edtech startup Byju’s is selling its US assets at steep losses, mandated by a US bankruptcy court. This and more in today’s ETtech Top 5.
Byju’s RP’s suit claims directors owe compensation to company under IBC laws
An EY-backed resolution professional, Shailendra Ajmera, has sued former Byju's directors. The lawsuits claim fraudulent asset transfers. These transfers allegedly deprived Think and Learn of funds. The transactions involve $533 million and Rs 130 crore. Riju Ravindran previously filed a petition. He sought Ajmera's removal citing conflict of interest. A Delaware court also ruled against Byju's Alpha's asset transfer.
Byju’s secures stay on EGM resolutions from Karnataka HC
In a statement Wednesday evening, Byju’s said the court has passed an order saying any resolutions proposed during the EGM by investors will be considered invalid until the final hearing and disposition of the petition.
Byju’s founders tell NCLAT they settled BCCI arrears
Embattled edtech startup Byju's and the Board of Control for Cricket in India (BCCI) have arrived at a settlement, a lawyer said on Wednesday. The payment to BCCI will be made by founder Byju Ravindran's brother Riju Ravindran, the lawyer added. On July 30, Byju Raveendran’s counsel had said the amount would be paid in three installments over the next 10 days.
Byju’s parent expected to adopt FY22 results this week
Byju’s, which has missed payment on a $1.2 billion term loan, said it’s completed a long-awaited audit of all group units. Parent Think & Learn Pvt Ltd. is expected to incorporate the audited financials into its consolidated results this week, Byju’s said in a statement Monday.
Byju’s Alpha accused of hiding $500 million from lenders
Lenders accused one of India’s hottest tech companies, Byju’s Alpha, of hiding $500 million as part of a fight between creditors and the self-proclaimed biggest education technology company in the world.
Byju’s picks up Rs 300-crore loan from subsidiary Aakash
Last week, Byju’s closed a financing round of $250 million from existing investors, including Qatar Investment Authority (QIA), which led the round with over $100 million.
Byju’s puts Epic, Great Learning on sale to clear $1.2 billion loan
Byju’s has been working with bankers to sell the two assets to strategic investors and the sources told us it has garnered some interest. Simultaneously, it is in talks to raise fresh equity capital, the people added.
Byju’s lenders accused of using bogus loan-default claims
The distressed-debt lenders are “playing hardball” to create leverage in negotiations to restructure the loan and causing problems for Byju’s executives, Sheron Korpus, a lawyer for the Bengaluru-base company, said at a hearing in state-court in Delaware Friday.
Former SBI chairman Rajnish Kumar, ex-Infosys CFO Mohandas Pai join Byju’s advisory council
These appointments come after Byju’s three key investors–Peak XV Partners, Prosus and Chan Zuckerberg Initiative–resigned from the board leaving only Raveendran, cofounder Divya Gokulnath and Riju Ravindran on the board.
Byju’s puts IPO plans into overdrive, to raise $400-600 million first
Byju’s could close the pre-IPO funding round in a few weeks at a valuation of about $21 billion and then seek a valuation of $40-50 billion in the IPO based on financial results and investor demand, Bloomberg reported.
Byju’s raises $500 million in round led by Silver Lake, valuation almost $11 billion
Since the lockdown, Byju’s has seen over 20 million new students start learning from its platform for free. Today, the app has over 64 million registered students and 4.2 million annual paid subscriptions. Byju’s had doubled its revenue from Rs 1430 crore to Rs 2800 crore in FY 19-20.
Shah Rukh Khan may not renew deal with Byju’s
Edtech platform Byju’s, which is cutting costs after struggling to raise funds, is unlikely to renew its endorsement deal with actor Shah Rukh Khan when it ends in September
Byju’s app removed from Google Play Store due to non-payment
But the other apps of the embattled edtech company, including Byju’s Exam Prep, which supports students preparing for competitive exams like the IAS, MBA, and UGC NET, and the Think and Learn Premium app, continue to remain available on the platform.
Byju’s denies hiding $533 million in hedge funds, says money invested in ‘high-grade fixed income assets’
Byju’s statement was in response to a Bloomberg report that said the Bengaluru-based firm’s lenders had alleged that the edtech company hid $533 million in an obscure three-year-old hedge fund, operating from a pancake restaurant in Miami.
Byju’s valuation tops $15 billion after over $1-billion funding
Byju’s, India’s most valued edtech startup, has raised $1.51 billion in three tranches of Series F funding round. The capital raised is likely to be used for inorganic growth by way of acquisitions.
Byju’s lenders seek $200 million prepayment over restructuring $1.2 billion loan
Edtech company yet to agree to the clause; lenders also want fortnightly updates on firm’s cash position. Byju’s holds $650 million in overseas accounts and about Rs 1,500 crore in liquid funds in India
Byju’s, Davidson Kempner in talks to settle dispute
Byju’s and New York-based investor Davidson Kempner Capital have begun negotiations to settle their dispute over the breach of a loan covenant linked to the Indian edtech company’s test preparation subsidiary, Aakash Institute.
Lenders call Byju’s lawsuit ‘meritless’, an effort to avoid obligations
After filing suit against American investment management firm Redwood and its entities, Byju’s missed its quarterly interest payment of about $40 million for the TLB, which was due by June 5.
Byju’s audit firm Deloitte sought two key changes in FY21 financials
“Revenues from streaming services (online courses), which was previously recognised fully on commencement of contract, has been adjusted to be recognised rateably over the period of the contract,” according to notes accompanying the annual earnings report of Think & Learn Pvt Ltd, Byju’s parent.
Former UpGrad CEO Arjun Mohan returns to Byju’s
Before his UpGrad stint, Arjun Mohan had spent a little over 11 years at K-12 edtech major Byju’s, where his last designation was chief business officer. Before that, he had worked at several Tata group companies.
Byju’s misses $40 million loan payment, sues term loan lender Redwood
In its suit, edtech major Byju’s sought to “disqualify” lender Redwood, which allegedly has taken on “predatory tactics”, and consistently increased its exposure by acquiring a sizable stake in the TLB with the intent of making windfall gains, the company said in a statement on Tuesday morning.
ICC signs Byju’s as global partner for 3 years
In addition to the integrated brand presence, Byju’s will work closely with the ICC to deepen engagement with fans through the creation of innovative campaigns.
Face-off likely at EGM over plan to oust Byju’s CEO
Investors demand ouster of Byju Raveendran and family, accuse management of non-compliance, misinformation, and withholding information. They seek details on AESL acquisition, loan terms, investigations, audits, and board restructuring for improved oversight and governance.
Byju’s creditors onboard Kroll to ‘safeguard’ assets including Great Learning
The appointment was made on behalf of the secured creditors of Byju’s Alpha, as part of the lenders’ exercise of their security rights following defaults by the company, said a statement from Kroll.
Court relief for Byju’s in TLB lenders’ suit
The lenders of Byju’s $1.2 billion term loan had moved the city court last Thursday seeking an ex-parte injunction on the transaction allowing Ranjan Pai to convert a loan of about $250-$300 million he had advanced to the brick-and-mortar coaching network into equity in Aakash Institute. Thursday’s legal challenge by the TLB lenders caught both Byju’s and Pai “by surprise”.
Byju’s has ED trouble, as agency finds alleged forex violations of Rs 9,000 crore
The Enforcement Directorate has found FEMA violations to the tune of Rs 9,000 crore by edtech major Byjus, sources told us.
Byju’s denies allegations against US arm, says transfers fully compliant with credit agreement
The fund transfers “did not contravene any terms of the parties’ credit agreement and the agreed-upon rights and responsibilities”, Byju’s said.
Consortium of Byju’s lenders extends pact to deal with edtech jointly: report
An earlier pact signed by the lenders’ consortium, which requires them to act in concert in negotiations with the edtech, is set to expire in July.
Byju’s to recruit 3.5k, double workforce
Byju’s is looking to hire about 2,000 people for its sales and operations team, while the rest will be added to its content-creation team.
Baron Capital marks up Swiggy, Pine Labs valuation; almost halves Byju’s value
In its April-June quarterly report, Baron Capital cut the valuation of Byju’s to $11.7 billion as of June 30, down 44.6% from $21.2 billion as of March 31.
Byju’s seeks $200 million in rights issue at 99% valuation cut
Byju’s, which is facing multiple crises and is in urgent need of a fresh cash infusion, is likely to price the share offering at as low as $5 per share, which would ascribe it a post-money valuation of around $220-250 million, people aware of the matter said. The rights issue will be open for subscription for 30 days.
Byju’s spends $2 billion for acquisitions over six months, adds Great Learning, Toppr to list
Byju’s still has cash of $1 billion after financing these acquisitions and that capital will be used as investment to scale these new platforms, cofounder and chief executive Byju Raveendran says.
BlackRock marks down Byju’s valuation again to $8.2 billion
Earlier in February, the fund manager had cut the value of its investment in Byju’s to about $11 billion. The edtech firm’s other marquee investors include Tiger Global, Sequoia Capital, General Atlantic, Prosus and Tencent.
Byju’s cuts another 1,000 jobs; ‘year of efficiency’ at Meta, says Mark Zuckerberg
Troubled edtech firm Byju’s, in a fresh round of layoffs, has fired another 1,000 employees. This and more in today’s ETtech Top 5
Byju’s in talks with SoftBank, others to raise up to $250 million
Byju’s is in the process of expanding to English-speaking markets, including the United States, the UK and Australia. The company has also hired teachers across geographies for this expansion initiative.
Byju’s forms executive committee for new leadership at Aakash after exit of CEO, CFO
Byju Raveendran– chief executive officer at Byju’s, Ajay Goel–group chief financial officer of Byju’s, Anup Kumar Agrawal, chief business officer of AESL and Sachin Saxena, chief human resources officer (CHRO) of AESL are part of the executive council, as per an internal note sent by Raveendran.
WhiteHat Jr CEO Ananya Tripathi leaves in another top-level exit at Byju’s
Tripathi was one of at least five business vertical heads who reported to Mrinal Mohit, Byju’s India business head. Four of them, including Tripathi, have quit the firm since June.
Byju’s $800 million funding round yet to close; edtech says Byju Raveendran completed $400 million infusion
Raveendran, 42, the son of educators, founded his startup in 2015. Byju’s, whose parent company is formally known as Think & Learn Pvt, is the largest of a crop of startups that over the past decade have thrived on India’s growing mobile connections and investment from abroad.
Byju’s gets $122m from tech billionaire Yuri Milner’s fund DST Global
Byju’s has allotted 42,666 Series F preference shares to DST Global for ₹908.9 crore, documents filed with the Ministry of Corporate Affairs showed.
Silver Lake in $500 million round, Byju’s valued $10.8 billion
Byju’s said it had seen strong growth during this time, with 64 million registered users and 4.2 million annual paid subscribers, having added 20 million new free users in the past few months.
With $150m more, Byju’s is 4th valuable Indian private company
There’s no shortage of funds for proven winners in Indian startup space. Byju’s reaches a fresh milestone, while Moglix gets more funds to grow.
More trouble for Byju’s as three board members, auditor Deloitte resign
Representatives from Peak XV (formerly Sequoia Capital India), Prosus and Chan Zuckerberg, on Byju’s board have resigned along with its auditor Deloitte.
Edtech unicorn Byju's raises $1.2 billion via term loan
Byju’s, India’s highest valued edtech startup, has taken advantage of the interest rate arbitrage available in global markets, with record low rates, to upsize its planned $700 million fundraise via a term loan.
ED issues show cause notice of Rs 9,362 crore to Byju’s for forex violation
Earlier in the day, ET reported that ED had found alleged forex violations to the tune of Rs 9,000 crore by edtech giant Byju’s, citing sources. In response to ET’s request for comment on the matter, a spokesperson said the company “unequivocally denies media reports that insinuate it has received any notice from the Enforcement Directorate.”
Kerala orders probe as Byju's closes its office, sacks staff
Byju’s had earlier said it would “rationalise” about 5% of its 50,000-strong workforce across departments such as product, content, media and technology in a phased manner
Byju’s to sack up to 2,500 employees in 'rationalisation' bid
A host of well-funded startups including Meesho, Cars24, and Unacademy have trimmed workforce to save capital and extend their runways amid a global slowdown and increasing pressure from investors.
Byju’s skips $40 million loan payment in dispute with lenders
Byju’s did not pay $40 million in interest that was due on Monday, according to people with knowledge of the matter. The company said in a statement June 6 that it has filed a complaint concerning the loan to the New York Supreme Court.
Byju’s in talks to sell US unit Epic for $400 million to Joffre
The potential sale of Epic! Creations Inc. would help Byju’s raise funds to pay down a disputed $1.2 billion term loan, people familiar with the matter said. Other bidders, including Duolingo Inc., have also expressed interest in buying the platform, they said, asking not to be named as the information isn’t public.
Byju’s hits pause on Shah Rukh Khan ads after son Aryan Khan’s arrest
Byju’s has over the last few days pulled ads featuring Shah Rukh Khan despite advance bookings after facing backlash on social media platforms like Twitter. Byju’s was one of the largest brand endorsement deals for the actor.
ETtech Explainer: Edtech company Byju’s legal woes take new turn
Just when things seemed to be going the way of the embattled edtech firm, a Supreme Court ruling in October last year overturning the NCLAT’s order to end the insolvency proceedings heralded fresh trouble for Byju’s.
Byju’s buys coding site Tynker to beef up US expansion
Byju's has now acquired three edtech startups in the US—Epic and Osmo and now Tynker. All three acquisitions map back to its goal of investing $1 billion in that country over the next three years.
Government asks Byju’s reasons for delay in filing audited accounts: report
According to the report, earlier this month, the Ministry of Corporate Affairs sent a letter to Byju’s parent company Think & Learn asking them to explain the seventeen-month delay in filing audited accounts.
BlackRock, Invesco mark down Byju’s, Swiggy holdings as tech valuations correct
While BlackRock has slashed Byju’s valuation by nearly 50%, Invesco has cut Swiggy’s stake value by over 23%.
Byju’s staffers temporarily call off protest after ‘unplanned’ town hall
The virtual town hall, a 50-minute call starting around 11 am, had Mohit assure employees that the company will no longer delay variable pays, incentives and will ensure that there are no more layoffs, attendees of the call told ET.
KKR’s Ananya Tripathi may join Byju’s Whitehat Jr as CEO
Tripathi’s potential entry at Whitehat Jr comes at a time when the coding platform for kids has faced severe criticism for its business practices, especially how the courses were sold to parents.
Byju’s cofounder Divya Gokulnath claims media reports on FY21 financials were misleading
Taking to LinkedIn, Gokulnath compared Byju’s results with the second biggest blockbuster of the year after the Bollywood movie Brahmastra.
Troubled Byju’s misses target to amend $1.2 billion loan terms
Beleaguered ed-tech firm Byju’s missed yet another target date set by its creditors to amend terms of a $1.2 billion debt, adding fresh challenges to the Indian borrower’s efforts to resolve disputes around the loan.
Qatar Investment Authority leads $150 million investment round in BYJU’S
This new round will support BYJU’S’ aggressive plans of international market expansion and the creation of world-class learning products for students across the globe.
Delaware court spikes Byju’s TLB lenders’ plea to investigate $500 million transfer
During the hearing, the counsel representing the defendants submitted that access and control of three bank accounts that the company uses, and their records, had already been provided. Meanwhile, the lenders submitted that the $500 million transfer was relevant to whether the “event of default” occurred.
Byju’s ED probe: Byju Raveendran tells staff all cross-border transactions duly vetted
The ED has conducted search and seizure actions on several premises linked to the company in Bengaluru. ED had conducted these searches as part of a probe into alleged violation of foreign exchange rules around the investments received and transfer of funds abroad by the edtech firm.
Byju’s founder Byju Raveendran pledges homes to raise funds for staff salaries
Two homes owned by the former billionaire’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 million
Cash crisis induced by select investors, got 100% rights issue commitment: Byju's tells staff
Success of rights issue will ensure sufficient operational capital to fund short-term needs from March, management says in note to employees.
Bengaluru employee union alleges Byju's forcing resignations; company denies claims
A Bengaluru-based union of IT sector employees has flagged “massive retrenchment” drive at the company where the company staff is being asked to “forcefully resign”.
Exclusive: Byju’s India CEO Arjun Mohan resigns, founder Raveendran to comeback at helm of daily ops
Byju Raveendran's return to the top of daily affairs after nearly four years is of significance as as a group of Byju’s investors voted in February to oust him as CEO of the company in an extraordinary general meeting.
Byju’s lenders move to safeguard charged assets; upbeat Q2 numbers for TCS
Secured creditors of Byju’s Alpha have onboarded two senior executives from risk and financial advisory solutions provider Kroll to ‘safeguard’ the charged assets of the troubled edtech and Great Learning Education. This and more in today's ETtech Top 5.
Prosus cuts Byju’s valuation to $5.1 billion, writes off ZestMoney investment
Prosus, earlier Naspers, owns little over 9% in Byju’s and readjusted the fair value of its investment in the firm to $493 million as of March 2023. For ZestMoney, Prosus has marked its investment in Primrose Hill (ZestMoney) to nil as against $38 million in FY22.
Byju’s crosses Rs 100 crores monthly revenue
Reportedly, Byju’s has been growing at 100% annually for the last three years, since the launch of its learning app in 2015.
Byju’s seeks to raise $1 billion to sidestep shareholder revolt
Byju’s, which has been trying to raise fresh funds for months, seeks to close a round within two weeks, sources said.
Byju’s, lenders aim to strike new pact for $1.2 billion loan by August 3
A formal agreement with lenders is of considerable significance for Byju’s as its differences with the former over the $1.2 billion TLB have emerged as a key pain point for the firm
Byju’s-Disney app for early learners
Disney Byju’s Early Learn, as the service is called, will be a standalone app that is likely to go live sometime next week.
Byju’s adds B’luru’s Math Adventures to its platform in an effort to build its K-3 product line
Byju’s is now looking to expand into the English-speaking markets, including the US, the UK and Australia. It is also working on launching an app for students in classes one to three by the end of this year.
ETtech Explainer: Why Byju’s pushed for arbitration in BCCI dispute
Troubled edtech firm Byju’s told the National Company Law Tribunal on Wednesday that it had referred its dispute with the Board of Control for Cricket in India (BCCI) to an arbitrator.
Byju’s faces new probe over financial, accounting practices
Indian authorities have launched an investigation into Byju's financial practices, including potential misreporting and fund diversion. This follows a previous probe that revealed corporate governance issues at the struggling edtech giant, currently battling insolvency proceedings and facing significant investor losses.
NCLAT adjourns Byju’s case hearing to Oct 1
On August 14, the Supreme Court revived the insolvency case against Byju's, overturning National Company Law Appellate Tribunal (NCLAT) decision that had quashed the bankruptcy proceedings and approved the settlement agreement with the BCCI.
Byju’s asset sale hangs fire amid investor flare-ups
Unlike Epic — which is also on the block — the sale of Great Learning is being overseen directly by its founder Mohan Lakhamraju, along with the TLB investors. Byju’s is seeking around $600 million from sale of the higher education asset but is yet to find a buyer with a binding term sheet.
Byju’s posts Rs 262 crore consolidated loss in FY20, revenue up 82%
Byju’s, which at $16.5 billion is India’s most valued startup, earned almost three times more from sale of tablets and SD cards than from sale of reference books. It sold devices worth Rs 1,676 crore and books worth Rs 561 crore in FY20.
