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BYJUS PROSUS
From billionaire to jail: Why Byju Raveendran is facing prison and how $22B startup with SRK & Messi as ambassadors crashedByju's founder Byju Raveendran has been sentenced to six months in jail by a Singapore court for contempt of court. The court cited his dis...- Prosus writes off investment in Byju's marking $493 million lossProsus writes off 9.6% stake in Byju's worth $493 million due to value decrease as per HSBC note. Also marks investment in Primrose Hill (Z...
- Prosus stake in Byju’s worth zero: HSBCThis comes at the time of Byju's controversial $200 million right issue at 99% discount to its peak valuation of $22 billion, meaning any i...
- Swiggy, Meesho investor Prosus and parent Naspers name Fabricio Bloisi as CEOFabricio Bloisi appointed chief executive of Prosus and Naspers, succeeding Bob van Dijk. Bloisi, current CEO of iFood, a food delivery bus...
- Investor group accuses Byju’s of violating NCLT orderA group of Byju’s investors led by Dutch investor Prosus is seeking to block a $200 million rights issue and the removal of founder Byju Ra...
- Byju’s investors vote to oust CEO RaveendranInvestors in Byju's led by Prosus filed a petition at NCLT alleging oppression and mismanagement by the present management of Byju’s. They ...
- Byju’s shareholder group calls for EGM, to vote for ouster of Byju Raveendran, boardWhile investors of Byju's have been asking Raveendran to step aside from an operating role, this is the first instance of shareholders band...
- Working to improve edtech returns: Ervin Tu, interim CEO of Byju’s investor ProsusThe comments come after Ervin Tu said on Wednesday that Prosus had marked down the valuation of embattled edtech Byju’s below $3 billion. I...
- Prosus cuts Byju's valuation to under $3 billion; PayU India, Swiggy H1 financialsTechnology investor Prosus has slashed Byju’s valuation to below $3 billion from its peak of $22 billion. This and more in today’s ETtech T...
- Byju’s valuation below $3 billion; company facing challenges: Prosus interim CEOLate last year, Prosus said it had ceased equity accounting of Byju’s as it had lost “significant influence” over the firm after its holdin...
- Davidson Kempner sends legal notice to Byju's arm Aakash for loan covenant breachIn the legal notice which was sent to the company last week, Davidson Kempner said it reserves the right to invoke Aakash’s pledged shares ...
- ETtech Recap: Five must-read stories on Byju's crisis this weekETtech brings you up to speed with all the latest developments surrounding Byju's.
- Plan significant Byju’s markdown over lack of visibility on audited financials: Peak XV tells limited partnersPeak XV told LPs that GV Ravishankar’s resignation from Byju’s board on June 6 was due to the fund’s dissatisfaction with the company’s man...
- Byju's shareholder Prosus cites poor corporate governance for board exitInvestment firm pledges to work with other shareholders and government authorities to safeguard the long-term interests of Byju’s and its s...
- Expect further corrections in startup valuations: Prosus CEO Bob van DijkThe froth of the low-interest rate regime hasn’t fully been washed away and the startup ecosystem is likely to see valuations drop further,...
- Prosus cuts Byju’s valuation to $5.1 billion, writes off ZestMoney investmentProsus, 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 Ma...
- Peak XV, Prosus and Chan Zuckerberg confirm exit from Byju’s boardA Byju’s spokesperson had called our report about the resignations entirely speculative and denied the claims.
- Prosus reports strong growth in Swiggy, Instamart, PayU in 2022The figures for Swiggy are from January to June, while PayU’s are from April to September; Prosus has also changed its accounting policy fo...
- Loss of 'significant influence' over Byju's prompts accounting change by ProsusProsus, which now owns 9.67% in the edtech firm, pegs the fair value of its Byju's investment at $578 million.
- Prosus says Indian portfolio firms Swiggy, Byju’s saw strong growth in FY22“Our food platforms continued to grow strongly at the core of the food delivery business and are now investing to extend that growth throug...
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