Byju's, once a $22 billion edtech giant, has collapsed. Founder Byju Raveendran faces jail for contempt. ...More

Byju's, once a $22 billion edtech giant, has collapsed. Founder Byju Raveendran faces jail for contempt. The company's downfall stems from unchecked ambition and excessive spending during a period of abundant capital. Aggressive expansion and a reliance on pandemic-era growth proved unsustainable. Investors now fight over assets and loans as the once-celebrated startup lies in ruins. ...Less

Byju Raveendran, founder of the failed Indian tech firm Byju's, has been sentenced to six months in jail ...More

Byju Raveendran, founder of the failed Indian tech firm Byju's, has been sentenced to six months in jail by a Singapore court for contempt. The court found he disobeyed multiple orders concerning his assets. This latest setback comes as foreign investors, including Qatar Investment Authority, pursue him globally to recover losses. ...Less

Byju's founder Byju Raveendran announced a settlement in principle with lenders like GLAS Trust and Qatar ...More

Byju's founder Byju Raveendran announced a settlement in principle with lenders like GLAS Trust and Qatar Investment Authority, following a Singapore court's contempt ruling. He stated the court proceedings created a misleading impression, as parties were nearing a comprehensive settlement and no wrongdoing was found on his part or other founders'. ...Less

Byju's founder Byju Raveendran has been sentenced to six months in jail by a Singapore court for contempt ...More

Byju's founder Byju Raveendran has been sentenced to six months in jail by a Singapore court for contempt of court. The court cited his disobedience of multiple orders concerning his assets. Raveendran must also pay S$90,000 in costs and provide proof of ownership for Beeaar Investco Pte. ...Less

The venture capital firm, which was initially looking to raise as much as $500 million for its fifth Indi ...More

The venture capital firm, which was initially looking to raise as much as $500 million for its fifth India fund, has now cut the target size to around $300-350 million, the people said, requesting anonymity as the discussions are private. ...Less

Happy Wednesday! Groww delivered strong gains to early investors after the IPO lock-in expired. This and ...More

Happy Wednesday! Groww delivered strong gains to early investors after the IPO lock-in expired. This and more in today’s ETtech Morning Dispatch. ...Less

Edtech firms UpGrad and Unacademy have filed for antitrust clearance with the CCI for their proposed merg ...More

Edtech firms UpGrad and Unacademy have filed for antitrust clearance with the CCI for their proposed merger. UpGrad will acquire Unacademy in an all-stock deal, valuing the test-prep startup at Rs 2,055 crore, a significant markdown from its 2021 peak. The transaction is anticipated to close in June-July. ...Less

After on-again, off-again talks, Ronnie Screwvala-run edtech firm UpGrad is acquiring UpGrad in a cut pri ...More

After on-again, off-again talks, Ronnie Screwvala-run edtech firm UpGrad is acquiring UpGrad in a cut price deal. UpGrad is also raising an internal round of approximately Rs 375 crore from existing backers such as Temasek, which is a common investor across both companies, as per people in the know. ...Less

Happy Monday! Upgrad is set to acquire Unacademy at a 90% markdown of its peak valuation. This and more i ...More

Happy Monday! Upgrad is set to acquire Unacademy at a 90% markdown of its peak valuation. This and more in today's ETtech Morning Dispatch. ...Less

Investors in Byju's led by Prosus filed a petition at NCLT alleging oppression and mismanagement by the p ...More

Investors in Byju's led by Prosus filed a petition at NCLT alleging oppression and mismanagement by the present management of Byju’s. They seek to remove Raveendran as CEO, overhaul the board, conduct a forensic audit, and declare the rights issue invalid. ...Less

Lenders have been pushing hard for the repayment of the $1.2 billion loan amid the company’s mounting dis ...More

Lenders have been pushing hard for the repayment of the $1.2 billion loan amid the company’s mounting distress after a pandemic-era boom in online learning fizzled out. Byju’s had been working to sell assets and deal with the loan issue when government investigators searched company offices this year. ...Less

Byju’s, Indian highest-valued startup, had a torrid 2022 thanks to a series of controversies over its fin ...More

Byju’s, Indian highest-valued startup, had a torrid 2022 thanks to a series of controversies over its financials, unpaid loans, governance and layoffs, among other things. The ETtech team kept a close eye on all the developments surrounding Byju’s. Here are five-must read stories: ...Less

In a statement Wednesday evening, Byju’s said the court has passed an order saying any resolutions propos ...More

In a statement Wednesday evening, Byju’s said the court has passed an order saying any resolutions proposed during the EGM by investors will be considered invalid until the final hearing and disposition of the petition. ...Less

Embattled edtech startup Byju's and the Board of Control for Cricket in India (BCCI) have arrived at a se ...More

Embattled edtech startup Byju's and the Board of Control for Cricket in India (BCCI) have arrived at a settlement, a lawyer said on Wednesday. The payment to BCCI will be made by founder Byju Ravindran's brother Riju Ravindran, the lawyer added. On July 30, Byju Raveendran’s counsel had said the amount would be paid in three installments over the next 10 days. ...Less

Last week, Byju’s closed a financing round of $250 million from existing investors, including Qatar Inves ...More

Last week, Byju’s closed a financing round of $250 million from existing investors, including Qatar Investment Authority (QIA), which led the round with over $100 million. ...Less

Lenders accused one of India’s hottest tech companies, Byju’s Alpha, of hiding $500 million as part of a ...More

Lenders accused one of India’s hottest tech companies, Byju’s Alpha, of hiding $500 million as part of a fight between creditors and the self-proclaimed biggest education technology company in the world. ...Less

Byju’s, which has missed payment on a $1.2 billion term loan, said it’s completed a long-awaited audit of ...More

Byju’s, which has missed payment on a $1.2 billion term loan, said it’s 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, Byju’s said in a statement Monday. ...Less

Byju’s has been working with bankers to sell the two assets to strategic investors and the sources told u ...More

Byju’s has been working with bankers to sell the two assets to strategic investors and the sources told us it has garnered some interest. Simultaneously, it is in talks to raise fresh equity capital, the people added. ...Less

Byju’s could close the pre-IPO funding round in a few weeks at a valuation of about $21 billion and then ...More

Byju’s could close the pre-IPO funding round in a few weeks at a valuation of about $21 billion and then seek a valuation of $40-50 billion in the IPO based on financial results and investor demand, Bloomberg reported. ...Less

Byju’s, India’s most valued edtech startup, has raised $1.51 billion in three tranches of Series F fundin ...More

Byju’s, India’s most valued edtech startup, has raised $1.51 billion in three tranches of Series F funding round. The capital raised is likely to be used for inorganic growth by way of acquisitions. ...Less

The distressed-debt lenders are “playing hardball” to create leverage in negotiations to restructure the ...More

The distressed-debt lenders are “playing hardball” to create leverage in negotiations to restructure the loan and causing problems for Byju’s executives, Sheron Korpus, a lawyer for the Bengaluru-base company, said at a hearing in state-court in Delaware Friday. ...Less

Edtech company yet to agree to the clause; lenders also want fortnightly updates on firm’s cash position. ...More

Edtech company yet to agree to the clause; lenders also want fortnightly updates on firm’s cash position. Byju’s holds $650 million in overseas accounts and about Rs 1,500 crore in liquid funds in India ...Less

These appointments come after Byju’s three key investors–Peak XV Partners, Prosus and Chan Zuckerberg Ini ...More

These appointments come after Byju’s three key investors–Peak XV Partners, Prosus and Chan Zuckerberg Initiative–resigned from the board leaving only Raveendran, cofounder Divya Gokulnath and Riju Ravindran on the board. ...Less

Edtech platform Byju’s, which is cutting costs after struggling to raise funds, is unlikely to renew its ...More

Edtech platform Byju’s, which is cutting costs after struggling to raise funds, is unlikely to renew its endorsement deal with actor Shah Rukh Khan when it ends in September ...Less

Since the lockdown, Byju’s has seen over 20 million new students start learning from its platform for fre ...More

Since the lockdown, Byju’s has seen over 20 million new students start learning from its platform for free. Today, the app has over 64 million registered students and 4.2 million annual paid subscriptions. Byju’s had doubled its revenue from Rs 1430 crore to Rs 2800 crore in FY 19-20. ...Less

Byju’s statement was in response to a Bloomberg report that said the Bengaluru-based firm’s lenders had a ...More

Byju’s statement was in response to a Bloomberg report that said the Bengaluru-based firm’s lenders had alleged that the edtech company hid $533 million in an obscure three-year-old hedge fund, operating from a pancake restaurant in Miami. ...Less

Byju’s and New York-based investor Davidson Kempner Capital have begun negotiations to settle their dispu ...More

Byju’s and New York-based investor Davidson Kempner Capital have begun negotiations to settle their dispute over the breach of a loan covenant linked to the Indian edtech company’s test preparation subsidiary, Aakash Institute. ...Less

After filing suit against American investment management firm Redwood and its entities, Byju’s missed its ...More

After filing suit against American investment management firm Redwood and its entities, Byju’s missed its quarterly interest payment of about $40 million for the TLB, which was due by June 5. ...Less

Investors demand ouster of Byju Raveendran and family, accuse management of non-compliance, misinformatio ...More

Investors demand ouster of Byju Raveendran and family, accuse management of non-compliance, misinformation, and withholding information. They seek details on AESL acquisition, loan terms, investigations, audits, and board restructuring for improved oversight and governance. ...Less

“Revenues from streaming services (online courses), which was previously recognised fully on commencement ...More

“Revenues from streaming services (online courses), which was previously recognised fully on commencement of contract, has been adjusted to be recognised rateably over the period of the contract,” according to notes accompanying the annual earnings report of Think & Learn Pvt Ltd, Byju’s parent. ...Less

Before his UpGrad stint, Arjun Mohan had spent a little over 11 years at K-12 edtech major Byju’s, where ...More

Before his UpGrad stint, Arjun Mohan had spent a little over 11 years at K-12 edtech major Byju’s, where his last designation was chief business officer. Before that, he had worked at several Tata group companies. ...Less

In its suit, edtech major Byju’s sought to “disqualify” lender Redwood, which allegedly has taken on “pre ...More

In its suit, edtech major Byju’s sought to “disqualify” lender Redwood, which allegedly has taken on “predatory tactics”, and consistently increased its exposure by acquiring a sizable stake in the TLB with the intent of making windfall gains, the company said in a statement on Tuesday morning. ...Less

In addition to the integrated brand presence, Byju’s will work closely with the ICC to deepen engagement ...More

In addition to the integrated brand presence, Byju’s will work closely with the ICC to deepen engagement with fans through the creation of innovative campaigns. ...Less

Byju’s still has cash of $1 billion after financing these acquisitions and that capital will be used as i ...More

Byju’s still has cash of $1 billion after financing these acquisitions and that capital will be used as investment to scale these new platforms, cofounder and chief executive Byju Raveendran says. ...Less

An earlier pact signed by the lenders’ consortium, which requires them to act in concert in negotiations ...More

An earlier pact signed by the lenders’ consortium, which requires them to act in concert in negotiations with the edtech, is set to expire in July. ...Less

The appointment was made on behalf of the secured creditors of Byju’s Alpha, as part of the lenders’ exer ...More

The appointment was made on behalf of the secured creditors of Byju’s Alpha, as part of the lenders’ exercise of their security rights following defaults by the company, said a statement from Kroll. ...Less

The lenders of Byju’s $1.2 billion term loan had moved the city court last Thursday seeking an ex-parte i ...More

The lenders of Byju’s $1.2 billion term loan had moved the city court last Thursday seeking an ex-parte injunction on the transaction allowing Ranjan Pai to convert a loan of about $250-$300 million he had advanced to the brick-and-mortar coaching network into equity in Aakash Institute. Thursday’s legal challenge by the TLB lenders caught both Byju’s and Pai “by surprise”. ...Less

Troubled edtech firm Byju’s, in a fresh round of layoffs, has fired another 1,000 employees. This and mor ...More

Troubled edtech firm Byju’s, in a fresh round of layoffs, has fired another 1,000 employees. This and more in today’s ETtech Top 5 ...Less

Earlier in February, the fund manager had cut the value of its investment in Byju’s to about $11 billion. ...More

Earlier in February, the fund manager had cut the value of its investment in Byju’s to about $11 billion. The edtech firm’s other marquee investors include Tiger Global, Sequoia Capital, General Atlantic, Prosus and Tencent. ...Less

The Enforcement Directorate has found FEMA violations to the tune of Rs 9,000 crore by edtech major Byjus ...More

The Enforcement Directorate has found FEMA violations to the tune of Rs 9,000 crore by edtech major Byjus, sources told us. ...Less

The fund transfers “did not contravene any terms of the parties’ credit agreement and the agreed-upon rig ...More

The fund transfers “did not contravene any terms of the parties’ credit agreement and the agreed-upon rights and responsibilities”, Byju’s said. ...Less

Byju’s is looking to hire about 2,000 people for its sales and operations team, while the rest will be ad ...More

Byju’s is looking to hire about 2,000 people for its sales and operations team, while the rest will be added to its content-creation team. ...Less

Byju’s, which is facing multiple crises and is in urgent need of a fresh cash infusion, is likely to pric ...More

Byju’s, which is facing multiple crises and is in urgent need of a fresh cash infusion, is likely to price the share offering at as low as $5 per share, which would ascribe it a post-money valuation of around $220-250 million, people aware of the matter said. The rights issue will be open for subscription for 30 days. ...Less

In its April-June quarterly report, Baron Capital cut the valuation of Byju’s to $11.7 billion as of June ...More

In its April-June quarterly report, Baron Capital cut the valuation of Byju’s to $11.7 billion as of June 30, down 44.6% from $21.2 billion as of March 31. ...Less

Byju’s is in the process of expanding to English-speaking markets, including the United States, the UK an ...More

Byju’s is in the process of expanding to English-speaking markets, including the United States, the UK and Australia. The company has also hired teachers across geographies for this expansion initiative. ...Less

Byju’s, India’s highest valued edtech startup, has taken advantage of the interest rate arbitrage availab ...More

Byju’s, India’s highest valued edtech startup, has taken advantage of the interest rate arbitrage available in global markets, with record low rates, to upsize its planned $700 million fundraise via a term loan. ...Less

Raveendran, 42, the son of educators, founded his startup in 2015. Byju’s, whose parent company is formal ...More

Raveendran, 42, the son of educators, founded his startup in 2015. Byju’s, whose parent company is formally known as Think & Learn Pvt, is the largest of a crop of startups that over the past decade have thrived on India’s growing mobile connections and investment from abroad. ...Less

Byju Raveendran– chief executive officer at Byju’s, Ajay Goel–group chief financial officer of Byju’s, An ...More

Byju Raveendran– chief executive officer at Byju’s, Ajay Goel–group chief financial officer of Byju’s, Anup Kumar Agrawal, chief business officer of AESL and Sachin Saxena, chief human resources officer (CHRO) of AESL are part of the executive council, as per an internal note sent by Raveendran. ...Less

Tripathi was one of at least five business vertical heads who reported to Mrinal Mohit, Byju’s India busi ...More

Tripathi was one of at least five business vertical heads who reported to Mrinal Mohit, Byju’s India business head. Four of them, including Tripathi, have quit the firm since June. ...Less

Byju’s had earlier said it would “rationalise” about 5% of its 50,000-strong workforce across departments ...More

Byju’s had earlier said it would “rationalise” about 5% of its 50,000-strong workforce across departments such as product, content, media and technology in a phased manner ...Less

Byju’s has allotted 42,666 Series F preference shares to DST Global for ₹908.9 crore, documents filed wit ...More

Byju’s has allotted 42,666 Series F preference shares to DST Global for ₹908.9 crore, documents filed with the Ministry of Corporate Affairs showed. ...Less

A host of well-funded startups including Meesho, Cars24, and Unacademy have trimmed workforce to save cap ...More

A host of well-funded startups including Meesho, Cars24, and Unacademy have trimmed workforce to save capital and extend their runways amid a global slowdown and increasing pressure from investors. ...Less

Byju’s said it had seen strong growth during this time, with 64 million registered users and 4.2 million ...More

Byju’s said it had seen strong growth during this time, with 64 million registered users and 4.2 million annual paid subscribers, having added 20 million new free users in the past few months. ...Less

There’s no shortage of funds for proven winners in Indian startup space. Byju’s reaches a fresh milestone ...More

There’s no shortage of funds for proven winners in Indian startup space. Byju’s reaches a fresh milestone, while Moglix gets more funds to grow. ...Less

Representatives from Peak XV (formerly Sequoia Capital India), Prosus and Chan Zuckerberg, on Byju’s boar ...More

Representatives from Peak XV (formerly Sequoia Capital India), Prosus and Chan Zuckerberg, on Byju’s board have resigned along with its auditor Deloitte. ...Less

Earlier in the day, ET reported that ED had found alleged forex violations to the tune of Rs 9,000 crore ...More

Earlier in the day, ET reported that ED had found alleged forex violations to the tune of Rs 9,000 crore by edtech giant Byju’s, citing sources. In response to ET’s request for comment on the matter, a spokesperson said the company “unequivocally denies media reports that insinuate it has received any notice from the Enforcement Directorate.” ...Less

Byju's has now acquired three edtech startups in the US—Epic and Osmo and now Tynker. All three acquisiti ...More

Byju's has now acquired three edtech startups in the US—Epic and Osmo and now Tynker. All three acquisitions map back to its goal of investing $1 billion in that country over the next three years. ...Less

Byju’s did not pay $40 million in interest that was due on Monday, according to people with knowledge of ...More

Byju’s did not pay $40 million in interest that was due on Monday, according to people with knowledge of the matter. The company said in a statement June 6 that it has filed a complaint concerning the loan to the New York Supreme Court. ...Less

The potential sale of Epic! Creations Inc. would help Byju’s raise funds to pay down a disputed $1.2 bill ...More

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. Other bidders, including Duolingo Inc., have also expressed interest in buying the platform, they said, asking not to be named as the information isn’t public. ...Less

But the other apps of the embattled edtech company, including Byju’s Exam Prep, which supports students p ...More

But the other apps of the embattled edtech company, including Byju’s Exam Prep, which supports students preparing for competitive exams like the IAS, MBA, and UGC NET, and the Think and Learn Premium app, continue to remain available on the platform. ...Less

Byju’s has over the last few days pulled ads featuring Shah Rukh Khan despite advance bookings after faci ...More

Byju’s has over the last few days pulled ads featuring Shah Rukh Khan despite advance bookings after facing backlash on social media platforms like Twitter. Byju’s was one of the largest brand endorsement deals for the actor. ...Less

Computer science education company CodeHS has acquired Tynker for $2.2 million in cash, a significant dro ...More

Computer science education company CodeHS has acquired Tynker for $2.2 million in cash, a significant drop from the $200 million that Byju’s paid in a cash-and-stock deal to acquire it in 2021. Epic, which was acquired by Byju’s in 2022 through a $500-million cash-and-stock transaction, has been sold to China's TAL Education Group for $95 million. ...Less

Just when things seemed to be going the way of the embattled edtech firm, a Supreme Court ruling in Octob ...More

Just when things seemed to be going the way of the embattled edtech firm, a Supreme Court ruling in October last year overturning the NCLAT’s order to end the insolvency proceedings heralded fresh trouble for Byju’s. ...Less

During the hearing, the counsel representing the defendants submitted that access and control of three ba ...More

During the hearing, the counsel representing the defendants submitted that access and control of three bank accounts that the company uses, and their records, had already been provided. Meanwhile, the lenders submitted that the $500 million transfer was relevant to whether the “event of default” occurred. ...Less

The ED has conducted search and seizure actions on several premises linked to the company in Bengaluru. E ...More

The ED has conducted search and seizure actions on several premises linked to the company in Bengaluru. ED had conducted these searches as part of a probe into alleged violation of foreign exchange rules around the investments received and transfer of funds abroad by the edtech firm. ...Less

Two homes owned by the former billionaire’s family in Bengaluru, in southern India, and his under-constru ...More

Two homes owned by the former billionaire’s family in Bengaluru, in southern India, and his under-construction villa in Epsilon — a plush gated community in the city — were offered as collateral to borrow $12 million ...Less

According to the report, earlier this month, the Ministry of Corporate Affairs sent a letter to Byju’s pa ...More

According to the report, earlier this month, the Ministry of Corporate Affairs sent a letter to Byju’s parent company Think & Learn asking them to explain the seventeen-month delay in filing audited accounts. ...Less

While BlackRock has slashed Byju’s valuation by nearly 50%, Invesco has cut Swiggy’s stake value by over ...More

While BlackRock has slashed Byju’s valuation by nearly 50%, Invesco has cut Swiggy’s stake value by over 23%. ...Less

A Bengaluru-based union of IT sector employees has flagged “massive retrenchment” drive at the company wh ...More

A Bengaluru-based union of IT sector employees has flagged “massive retrenchment” drive at the company where the company staff is being asked to “forcefully resign”. ...Less

Success of rights issue will ensure sufficient operational capital to fund short-term needs from March, m ...More

Success of rights issue will ensure sufficient operational capital to fund short-term needs from March, management says in note to employees. ...Less

The virtual town hall, a 50-minute call starting around 11 am, had Mohit assure employees that the compan ...More

The virtual town hall, a 50-minute call starting around 11 am, had Mohit assure employees that the company will no longer delay variable pays, incentives and will ensure that there are no more layoffs, attendees of the call told ET. ...Less

Taking to LinkedIn, Gokulnath compared Byju’s results with the second biggest blockbuster of the year aft ...More

Taking to LinkedIn, Gokulnath compared Byju’s results with the second biggest blockbuster of the year after the Bollywood movie Brahmastra. ...Less

Tripathi’s potential entry at Whitehat Jr comes at a time when the coding platform for kids has faced sev ...More

Tripathi’s potential entry at Whitehat Jr comes at a time when the coding platform for kids has faced severe criticism for its business practices, especially how the courses were sold to parents. ...Less

Beleaguered ed-tech firm Byju’s missed yet another target date set by its creditors to amend terms of a $ ...More

Beleaguered ed-tech firm Byju’s missed yet another target date set by its creditors to amend terms of a $1.2 billion debt, adding fresh challenges to the Indian borrower’s efforts to resolve disputes around the loan. ...Less

This new round will support BYJU’S’ aggressive plans of international market expansion and the creation o ...More

This new round will support BYJU’S’ aggressive plans of international market expansion and the creation of world-class learning products for students across the globe. ...Less

Byju’s, the once celebrated edtech giant, has found itself embroiled in a prolonged legal and financial c ...More

Byju’s, the once celebrated edtech giant, has found itself embroiled in a prolonged legal and financial crisis. Delayed audits, funding shortfalls, debt disputes, insolvency proceedings, and regulatory actions—including Supreme Court and NCLT interventions—have marked its troubles. Here’s a look at the events that led to this downfall. ...Less

Byju’s, which at $16.5 billion is India’s most valued startup, earned almost three times more from sale o ...More

Byju’s, which at $16.5 billion is India’s most valued startup, earned almost three times more from sale of tablets and SD cards than from sale of reference books. It sold devices worth Rs 1,676 crore and books worth Rs 561 crore in FY20. ...Less

Byju Raveendran's return to the top of daily affairs after nearly four years is of significance as as a g ...More

Byju Raveendran's return to the top of daily affairs after nearly four years is of significance as as a group of Byju’s investors voted in February to oust him as CEO of the company in an extraordinary general meeting. ...Less

Secured creditors of Byju’s Alpha have onboarded two senior executives from risk and financial advisory s ...More

Secured creditors of Byju’s Alpha have onboarded two senior executives from risk and financial advisory solutions provider Kroll to ‘safeguard’ the charged assets of the troubled edtech and Great Learning Education. This and more in today's ETtech Top 5. ...Less

Byju’s, which has been trying to raise fresh funds for months, seeks to close a round within two weeks, s ...More

Byju’s, which has been trying to raise fresh funds for months, seeks to close a round within two weeks, sources said. ...Less

Prosus, earlier Naspers, owns little over 9% in Byju’s and readjusted the fair value of its investment in ...More

Prosus, earlier Naspers, owns little over 9% in Byju’s and readjusted the fair value of its investment in the firm to $493 million as of March 2023. For ZestMoney, Prosus has marked its investment in Primrose Hill (ZestMoney) to nil as against $38 million in FY22. ...Less

Reportedly, Byju’s has been growing at 100% annually for the last three years, since the launch of its le ...More

Reportedly, Byju’s has been growing at 100% annually for the last three years, since the launch of its learning app in 2015. ...Less

Byju's, which continues to face overall scrutiny of its financials and business model, is in talks to rai ...More

Byju's, which continues to face overall scrutiny of its financials and business model, is in talks to raise another $500 million in funding through convertible notes from new and existing investors as a part of its pre-IPO funding. ...Less

Company reiterates its commitment to Kerala, says it will pursue a growth strategy in the state ...More

Company reiterates its commitment to Kerala, says it will pursue a growth strategy in the state ...Less

By Friday midnight, Peak XV Partners, Prosus and Chan Zuckerberg confirmed their exit from edtech’s board ...More

By Friday midnight, Peak XV Partners, Prosus and Chan Zuckerberg confirmed their exit from edtech’s board. ...Less

The fresh set of layoffs at Byju's is expected to impact employees across marketing, sales, business deve ...More

The fresh set of layoffs at Byju's is expected to impact employees across marketing, sales, business development as well as product and technology functions. It also includes teams at its coding subsidiary, Whitehat Jr., sources added. ...Less

A formal agreement with lenders is of considerable significance for Byju’s as its differences with the fo ...More

A formal agreement with lenders is of considerable significance for Byju’s as its differences with the former over the $1.2 billion TLB have emerged as a key pain point for the firm ...Less

Disney Byju’s Early Learn, as the service is called, will be a standalone app that is likely to go live s ...More

Disney Byju’s Early Learn, as the service is called, will be a standalone app that is likely to go live sometime next week. ...Less

Byju’s is now looking to expand into the English-speaking markets, including the US, the UK and Australia ...More

Byju’s is now looking to expand into the English-speaking markets, including the US, the UK and Australia. It is also working on launching an app for students in classes one to three by the end of this year. ...Less

Byju Raveendran also acknowledged in his internal e-mail that the process was “not as smooth” as the comp ...More

Byju Raveendran also acknowledged in his internal e-mail that the process was “not as smooth” as the company intended. ET has reviewed a copy of the communication. ...Less

Creditors may hike rate by 200-300 bps as debt-financing pact being reworked. ...More

Creditors may hike rate by 200-300 bps as debt-financing pact being reworked. ...Less

Troubled edtech firm Byju’s told the National Company Law Tribunal on Wednesday that it had referred its ...More

Troubled edtech firm Byju’s told the National Company Law Tribunal on Wednesday that it had referred its dispute with the Board of Control for Cricket in India (BCCI) to an arbitrator. ...Less

Indian authorities have launched an investigation into Byju's financial practices, including potential mi ...More

Indian authorities have launched an investigation into Byju's financial practices, including potential misreporting and fund diversion. This follows a previous probe that revealed corporate governance issues at the struggling edtech giant, currently battling insolvency proceedings and facing significant investor losses. ...Less

In the past one year, Byju’s has spent at least $2 billion to acquire edtech startups—from Aakash Institu ...More

In the past one year, Byju’s has spent at least $2 billion to acquire edtech startups—from Aakash Institute in India to Great Learning in Singapore, as well as Tynker and Osmo in the US. ...Less

On August 14, the Supreme Court revived the insolvency case against Byju's, overturning National Company ...More

On August 14, the Supreme Court revived the insolvency case against Byju's, overturning National Company Law Appellate Tribunal (NCLAT) decision that had quashed the bankruptcy proceedings and approved the settlement agreement with the BCCI. ...Less

Unlike Epic — which is also on the block — the sale of Great Learning is being overseen directly by its f ...More

Unlike Epic — which is also on the block — the sale of Great Learning is being overseen directly by its founder Mohan Lakhamraju, along with the TLB investors. Byju’s is seeking around $600 million from sale of the higher education asset but is yet to find a buyer with a binding term sheet. ...Less

The Indian cricket board has filed the application against Byju’s parent company, Think & Learn, under th ...More

The Indian cricket board has filed the application against Byju’s parent company, Think & Learn, under the Insolvency and Bankruptcy Code, 2016 before the Bengaluru bench of the National Company Law Tribunal (NCLT). ...Less

The promoters of Byju’s sold their shares for millions of dollars since 2015, according to a research and ...More

The promoters of Byju’s sold their shares for millions of dollars since 2015, according to a research and data platform. However, a spokesperson for the edtech giant was quick to clarify that the proceeds were reinvested in the firm. This and more in today’s ETtech Top 5. ...Less

Oliver Chapman, founder and chief executive of the UK-based OCI, claims that Byju’s Alpha diverted $533 m ...More

Oliver Chapman, founder and chief executive of the UK-based OCI, claims that Byju’s Alpha diverted $533 million using his firm to another entity belonging to the edtech’s founder, Byju Raveendran. ...Less