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BYJUS US UNIT
Lightspeed eyes new India fund, plans smaller corpus of $300–350 million amid AI focusThe venture capital firm, which was initially looking to raise as much as $500 million for its fifth India fund, has now cut the target siz...- ETtech Explainer: Inside the alleged $533 million heist at Byju’sOliver Chapman, founder and chief executive of the UK-based OCI, claims that Byju’s Alpha diverted $533 million using his firm to another e...
- The downfall of India’s hot startup is wiping out US debtholdersByju's, India’s most valuable startup, faced a corporate collapse after borrowing $1.2 billion in the US. Legal issues arose when $533 mill...
- Byju’s content manager, business partner face US court sanctionsLenders owed more than $1.2 billion are fighting to liquidate US education software companies that Byju’s purchased a few years ago for $82...
- Byju’s founder accused of trying to regain firm with hidden cashByju Raveendran has been trying to regain control of his capsizing education technology empire, which is under court supervision in both In...
- Byju’s affiliate drained cash from US units in violation of bankruptcy rules: lawsuitA lawsuit in Delaware claims that Byju Raveendran's company illegally transferred nearly $700,000 from US affiliates amid bankruptcy procee...
- Byju’s bankruptcy ruling in US catches Indian official off guardThe decision, made at a Tuesday hearing in Delaware, will lead to involuntary Chapter 11 bankruptcy of units including Neuron Fuel Inc., Ep...
- Byju’s ex-director Riju Ravindran fined $10,000 a day over missing $533 millionAfter imposing the sanctions on Riju Ravindran, US Bankruptcy Judge Brendan Shannon also rejected a request to put the US debt fight on hol...
- Byju’s challenges NCLT order restricting fund use in Karnataka High CourtByju’s faces protests from investors over $200 million rights issue conducted at 99% discount. Lenders within consortium loaned $1.2 billio...
- US court says Riju Ravindran’s testimony “lacks credibility”, imposes penalty: Byju’s lender groupAn Indian tech firm, Think & Learn Pvt, faces penalties for concealing $533 million from lenders. Riju Ravindran, a director, failed to loc...
- Byju's US unit files for bankruptcy in DelawareByju's Alpha unit listed its assets in the range of $500 million to $1 billion, according to a court filing, which showed estimated credito...
- From $22 billion to $1 billion: Byju’s valuation at BlackRock bottomPreviously, BlackRock had valued Byju's at $8.2 billion at the end of the March quarter of 2023. For Byju's, this is not the first valuatio...
- The downfall of Byju's: How the world’s most valuable learning app became a trapThe group is facing an acute liquidity crunch. Amid mass layoffs and deep losses, the former billionaire founder has sold his homes to pay ...
- Ranjan Pai cuts Rs 1,400 crore cheque for Davidson Kempner debt, books Aakash seatsIn May, Byju’s had signed a Rs 2,000-crore ($240 million) structured credit deal with Davidson Kempner against the cash flows of Aakash Ins...
- Byju’s lenders accused of using bogus loan-default claimsThe distressed-debt lenders are “playing hardball” to create leverage in negotiations to restructure the loan and causing problems for Byju...
- Government airs concerns over complaints against edtech companiesComplaints against Byju’s and group entities were highlighted during a discussion, as the edtech leader caters to a large student base, peo...
- Byju's acquires US edtech firm Epic in $500-million dealByju's Epic acquisition is part of its overseas expansion plans, wherein it expects to generate annual revenue of $300 million this financi...
- BYJU’S aims to empower 5 million children with education by 2025The edtech company announced the launch of its social initiative - Education for All.
- With $150m more, Byju’s is 4th valuable Indian private companyThere’s no shortage of funds for proven winners in Indian startup space. Byju’s reaches a fresh milestone, while Moglix gets more funds to ...
- Byju's claims to have tripled its revenues to Rs 1,430 crore in FY19The edtech company also claimed it had turned profitable on a full-year basis, without disclosing the exact profit number.
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