Byju's delays January salaries for employees amid liquidity crunch
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
Source: moneycontrol.com
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Byju's investors issue EGM notice for founders' ouster, say 'deeply concerned' about stability of company
Byju's recently launched a rights issue to raise $200 million from existing investors at $225 million valuation
Source: moneycontrol.com
Byju's launches rights issue to raise $200 million from existing investors at $225 million valuation
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
Source: moneycontrol.com
Rights issue caps Byju's wild ride from top startup to throwaway valuation
Investors have 30 days to decide if they want to participate. The steep discount means those who do not participate will face massive erosion of their shareholding.
Source: livemint.com
Former EdTech Billionaire Byju Raveendran Braves The Odds To Raise Funds Again
India’s embattled edtech firm Byju’s is considering a rights issue for existing investors at a $2 billion valuation, according to a source familiar with the company’s plans.
Source: forbes.com