Byju's founder raising funds to buy back as much as 15% of firm: Report

Raveendran is in the midst of overhauling the company's strategy and cutting marketing spend with a goal to be profitable by March

Byju Raveendran, the founder of the world’s most valuable edtech startup Byju’s, is in financing talks to lift his stake in the company to as high as 40 per cent, people familiar with the matter said.
 

The former teacher is seeking funding to finance the stake repurchases — which could amount to as much as 15% of the firm — by using his shares as collateral, according to the people. Byju’s was valued at $22 billion the last time it raised funds, though the buyback may happen at a lower valuation, the people said, asking not to be named discussing