Mrinal Mohit News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Byju's faces advisory board changes amid setbacks, with Rajnish Kumar and Mohandas Pai not renewing contracts.

Mohit, who was seen as second in command at Byjus, has floated a company that could potentially compete with the beleaguered ed-tech firm of which he was a founding member. The new entity, according to sources, has already opened its first centre.

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.

BlackRock has again reduced the valuation of its share in edtech firm Byju's - 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.

This comes after a series of senior-level exits at Byju’s, with CEO Mrinal Mohit, CFO Ajay Goel, CTO Ajit Goel, and CBO Prathyusha Agarwal leaving the company over the past few months.