Page 6 - Learn Pvt News Today

Online education pioneer bought Epic for $500m in 2021 as part of its global expansion

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.

Troubled Indian education provider Byju's is in advanced talks to sell its US-based kids' digital reading platform for about $400 million to Joffre Capital Ltd., seeking funds to ease its financial pressures.

The potential sale of Epic! Creations Inc. would help Byjus 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 isnt public.

India Business News: Indian education provider Byju's is in advanced discussions to sell its US-based digital reading platform, Epic!, for approximately $400 million to Jo

The US-based children's digital reading platform Epic! Creations, owned by the Indian education technology firm Byju's, is reportedly in advanced talks to be sold for about $400 million. Byju's hopes to use this calculated action to give itself the financial cushion it needs to deal with its current financial issues, which include a controversial $1.2 billion term loan.

Bengaluru: Education startup Byju's finally released its financial results on Saturday, after several delays. The results revealed that its parent company, Think & Learn Pvt., reported a slight reduction in losses, despite a surge in business during the pandemic.

Byjus, which has missed payment on a $1.2 billion term loan, said its 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, Byjus said in a statement Monday.

Byjus to report financial results for year through March 2022 after long delay this week. The ed-tech firm is dealing with immense cash crunch

Aakash was acquired by edtech company BYJU’s in April 2021 after which the promoter gave up the management position.