BYJU
India's Unicorn Count Drops After Four-Year Growth; Byju's Sees Largest Global Valuation Dip: Report"
One notable exclusion from the list is the edtech giant Byju's, which had a valuation of over USD 22 billion a year ago but has since fallen below the USD 1 billion mark. This decline in valuation marks one of the most significant drops among startups worldwide, according to the Hurun report.
Arbitrator Orders Byju's to Hold Off on Selling 6% Stake in Aakash: Legal Twist Unfolds
Arbitration procedures were initiated by MEMG Family Office in March to safeguard its rights, based on the commitment made by Byju's when obtaining the loan.
Byju's Initiates Workforce Reduction Amid Restructuring Efforts
In a recent statement to IANS, Byju's addressed the ongoing situation, attributing it to the final stages of a restructuring initiative set in motion back in October 2023. This initiative aims to streamline operational structures, trim costs, and enhance cash flow management within the organization. Despite these efforts, the company still grapples with unsettled salary payments for its employees in March.
Byju's Ordered by US Court to Freeze $533 Million Debt to Lenders
As per the statement released by the steering committee, the judge has prohibited Byju's co-founders, Byju Raveendran and Divya Gokulnath, from transferring or utilizing any portion of the $533 million loan proceeds previously under the control of Camshaft Capital Fund, and subsequently shifted to an undisclosed offshore trust.
Byju's Shareholders Vote on CEO and Family Member Removal Deemed Invalid by Company
Founder CEO Raveendran, along with his wife and brother—currently the sole members on the company's board—opted to abstain from the extraordinary general meeting (EGM) organized by a consortium of six investors holding over 32% stake in Think & Learn (T&L), the entity behind the online education platform Byju’s.
Shareholder Rebellion at Byju's: Attempt to Oust CEO and Family Members Met with Controversy"
Founder CEO Byju Raveendran, alongside his wife and brother—the sole members of the company board—opted to abstain from the extraordinary general meeting (EGM) orchestrated by a coalition of six investors, collectively holding over 32% stake in Think & Learn (T&L), the parent entity operating the online tutoring platform Byju's.
Byju Raveendran and Board Members to Skip BYJU's Special Shareholder EGM
At the forthcoming meeting, shareholders of BYJU’S will vote on a resolution put forward by some investors aiming to remove founder and CEO Byju Raveendran and his family members due to alleged "mismanagement and failures."
BYJU'S Engages with Disgruntled Investors, Aims to Secure Investments to Maintain Shareholding
In January, BYJU'S initiated a rights issue aiming to raise $200 million through equity rights at a valuation ranging from $220 million to $250 million. This valuation marks a significant decrease of 99 percent from its peak valuation of $22 billion.
EdTech Giant Byju’s Seeks New Funding Round, Eyes Nearly $2 Billion Valuation: Report
Byju Raveendran, Co-founder and CEO of the edtech major, is expected to participate in the new funding round. Byju’s has not yet commented on these reports.
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