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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.
Byju's 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.