Page 4 - Arjun Mohan News Today

This EGM is procedurally invalid, contractually in contravention of our AOA and SHA, legally on the wrong side of the Companies Act, 2013. If it is still summoned, it will not have the required quorum and cannot proceed, a Byjus spokesperson said

The development follows a communication Byju’s sent to its employees in December, assuring that the salaries will be credited the first day of every month

Buckle up for the wild ride that Byju's, India's edtech powerhouse, is currently on. In a twist of fate, the company finds itself juggling delayed salaries, a hefty devaluation, and a rebellion from its very own investors.

Byjus recently launched a rights issue to raise $200 million from existing investors at $225 million valuation

Depending on the final set of investors subscribing to the share sale, Byjus founder Byju Raveendran may also end up owning more in the firm if he manages to arrange capital for the financing.

Rights issues are typically valued much lower than the fair market valuation of a company to attract existing investors to double down on their bet

Good Glamm co-founder Priyanka Gill is joining Kalaari Capital as a venture partner, while Lead Group has named Arvind Singhal as chief growth officer.

Approximately 58% of its overall revenue came from its core business of selling video lectures recorded on SD cards and tablets

BlackRock has again reduced the valuation of its share in edtech firm Byjus - this time to about $1 billion, TechCrunch reported on Friday, citing disclosures made by the US-based asset manager. This is 95 per cent less than its peak valuation of $22 billion in 2022. The markdown comes at a time when the company is facing a multitude of challenges, including securing fresh capital, delays in financial reporting and legal disputes with lenders.

In a recent disclosure by US-based asset manager BlackRock, the valuation of its stake in ed-tech giant Byju’s has been further reduced to approximately $1 billion, marking a significant 95% decrease