Byju's

Order allows lenders to take control of edtech company's assets in the United States

The Ministry of Corporate Affairs has sought a report in six weeks, said the people, asking not to be named as the information isn't public

In a townhall, Raveendran tells employees edtech is not a 'pandemic phenomenon'

Byju's has to make an interest payment on the loan by June 5

Byju's has volunteered to raise the interest rate for the loan by about 200 basis points (bps), but it has not agreed to the prepayment clause so far

The latest funding round comes as Byju's is aiming to repay a huge $1.2-billion term loan it had secured in November 2021

The edtech giant hired has hired Goel to the company's financial operations, long-term business strategies, and path to profitability

While BlackRock has slashed Byju's valuation by nearly 50 per cent, Invesco has cut Swiggy's stake value by over 23 per cent

Swiggy reached a $10.7 billion valuation in a round led by Invesco in January last year

Byju's acquired AESL in 2021 for about $1 billion. Since then, Byju's said AESL's revenue and profits tripled

Edtech major Byju's is likely to close a USD 250 million equity funding deal in April at a USD 22 billion valuation, sources aware of the development said. The company had last raised USD 250 million in October at the same valuation. "Byju's is in the process of raising USD 250 million. The term sheets are expected to close in about 2-3 weeks," a source told PTI. Another source said the fundraising is an equity deal and happening at a flat valuation of USD 22 billion. When contacted Byju's declined to comment. The company had last raised USD 250 million from existing investors and Qatar Investment Authority. The company attained a valuation of USD 22 billion in the funding round of USD 800 million, announced in March 2022. Byju's has set a target to become profitable by the end of this month. The company retrenched 2,500 employees under the plan and hired 10,000 teachers for India and overseas. Byju's booked a loss of Rs 4,588 crore for the fiscal ended March 2021 -- 19 times

Edtech major BYJU's on Friday denied reports that it is considering a merger of rival Gaurav Munjal-run Unacademy into Aakash Educational Services

At a group level, BYJU's had said its top priority is to achieve "overall profitability by March 2023"

Aakash is eyeing an initial public offering (IPO) and it is looking to raise the capital to create an interim event and set the stage, according to the sources

The pre-IPO round at Aakash will help the startup to tide over a liquidity crunch as talks to raise funds at a parent level are getting delayed with a prolonged due diligence process

Beleaguered coding platform WhiteHat Jr has seen an exodus of top HR executives in recent days, including Ashutosh Singh, Director HR Business Partner (HRBP) and HR leader for international markets

Last year, Byju's laid off about 600 employees at its group companies - WhiteHat Jr and Toppr

WhiteHat Jr shut its schools division that targeted to take its flagship coding curriculum to 10 lakh school students by the next academic year

Under the Consumer Protection Act, 2019, the department of consumer affairs has powers to penalise companies for misleading ads and unfair trade practices

Penetration of technology in the education sector is giving improved academic results, Divya Gokulnath, Co-Founder of BYJU's, said on Tuesday. Edtech is an area which has seen growth, especially since Covid-19. The use of technology in education is delivering improved academic results, she told PTI. "It is a responsibility and duty to ensure that while we do well as an organisation we go beyond business and we do good for society. Education is one sector where you have benefits of double bottom line. I don't think many other sectors can actually stake that claim," Gokulnath said on the sidelines of GSV + Emeritus India Summit event in Gurugram. On the contribution of BYJU's, she said the ed-tech company has close to 7.5 million paying customers and another 5.5 million students from the remotest part of the country who are being given online learning for free. "There is a 6 per cent increase in academic improvement... This is what the sector is capable of doing... you have great ...