Page 4 - Learn Pvt News Today

Byju Raveendran will participate in the share sale to retain his stake in the company: Report

Byju's, once counted among the world's most valuable startups, is seeking to raise funds at a discount of more than 90% from its previous round to alleviate its financial problems.

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The beleaguered Indian education provider is asking more than $100 million from existing investors through a fresh issuance of shares slated for next month, at a price that values the firm at less than $2 billion, people familiar with the matter said. That’s down from $22 billion at its previous round in late 2022.

US-based investment fund BlackRock Inc. has marked down the fair value of its investments in Byju's again, causing the beleaguered startup's valuation to plummet to $1 billion. In a filing on Jan. 5, BlackRock Global Allocation Fund valued one share of Byju's parent, Think & Learn Pvt., at about $209.5 apiece. BlackRock holds a 0.9% stake in the company, which implies a valuation of $1 billion, down from its peak $22 billion valuation.

The non-profit organisation filed a case against WhiteHat Jr on December 1, alleging breach of contract against the latter.

Byju’s has received three offers, totalling around $400 million, for Epic. As per the current plan, the company might need to utilise about $80-100 million from this amount while allocating the rest for term loan B (TLB) lenders, as per a report

(Bloomberg) -- Byju Raveendran, the eponymous founder of Indian edtech titan Byju’s, has pledged his home as well as those owned by his family members to raise money for paying employees as the company battles a cash crunch, according to people familiar with the matter.Most Read from BloombergHow Suspects Laundered Billions in Singapore for YearsWall Street’s Furious Bull Run Gets Reality Check: Markets WrapBitcoin Surges Past $42,000 Even as Stocks and Bonds Take a HitHarvard Alum...

Byju Raveendran, the eponymous founder of edtech titan Byju's, has pledged his home as well as those owned by his family members to raise money for paying employees as the company battles a cash crunch.

Byju Raveendran has raised $400 million in debt to keep firm afloat