Page 14 - Byju's
Byju's shareholders schedule meeting to oust edtech CEO and board: Report
This is the first time shareholders have banded together to issue a statement calling for a change in leadership at Byju's
 "Byju's shareholders schedule meeting to oust edtech CEO and board: Report")
Ranjan Pai may invest additional $50-60 million in Byju's-owned Aakash
Pai may intend to make additional investments in Aakash to spur business growth and scale the business during the upcoming enrolment season
Cash-strapped Byju's to raise $200 mn after taking 99% valuation cut
Equity rights issue likely at post-money valuation of $230-250 million
 "Cash-strapped Byju's to raise $200 mn after taking 99% valuation cut")
Byju's to raise $200 million via rights issue from existing investors
Byju Raveendran said that Byju's is now less than a quarter away from achieving operational profitability
 "Byju's to raise $200 million via rights issue from existing investors")
TMS Ep617: Byju's GenAI, interim Budget, market rally, PM Suryoday Yojana
Can GenAI save Byju's? Will there be a special package for rural India in interim Budget? Will the markets see a pre-Budget rally? What is PM Suryoday Yojana? All answers here
 "TMS Ep617: Byju's GenAI, interim Budget, market rally, PM Suryoday Yojana")
US lenders take Byju's to NCLT to initiate insolvency proceedings
The lenders said this was done after over 16 months of efforts on behalf of the Ad Hoc Group to restructure the loans
 "US lenders take Byju's to NCLT to initiate insolvency proceedings")
Ranjan Pai to own 40% in Byju's Aakash Institute, make it debt-free
Aakash Institute's board has approved the conversion of Ranjan Pai's $300 million investment, making him the principal shareholder and rendering the company debt-free
 "Ranjan Pai to own 40% in Byju's Aakash Institute, make it debt-free")
Focus on reducing losses, bring in efficiency: Byju's India CFO Golani
The company has taken various measures to improve the company's operating financial conditions including scaling down the underperforming businesses significantly
 "Focus on reducing losses, bring in efficiency: Byju's India CFO Golani")
FY22 report card: Edtech company Byju's losses widen to Rs 8,245.2 cr
Subsidiaries WhiteHat Jr, Osmo contributed to 45% of losses
 "FY22 report card: Edtech company Byju's losses widen to Rs 8,245.2 cr")
Edtech major Byju's to slash $22 bn valuation by 90% to raise fresh funds
The company is focusing on rebuilding its core business and will double down on recent attempts to jump on to the next big bandwagon in education
Byju's reports Rs 5,014 cr in operating revenue, Rs 8,245 in losses in FY22
Edtech giant grapples with financial challenges as auditors raise concerns over $1.2 billion term loan
Byju's vs BCCI: Edtech wants arbitrator to decide Rs 158 crore dispute
The firm claimed before the NCLT that it is in talks with the BCCI to settle the payment dispute. However, the BCCI reportedly denied and told the tribunal that no negotiations were underway
 "Byju's vs BCCI: Edtech wants arbitrator to decide Rs 158 crore dispute")
Byju's-owned Aakash Educational's FY22 net up 82% at Rs 79.5 crore
The company's net profit increased 82.2 per cent year-on-year (Y-oY) to Rs 79.5 crore in FY22
 "Byju's-owned Aakash Educational's FY22 net up 82% at Rs 79.5 crore")
US investor BlackRock slashes Byju's valuation by 95% to $1 billion
In November 2023, Netherlands-based tech investor Prosus NV marked down Byju's valuation to under $3 billion
 "US investor BlackRock slashes Byju's valuation by 95% to $1 billion")
BlackRock slashes Byju's valuation by 95% from $22 bn to $1 bn: Report
Tech investor Prosus NV valued Byju's at under $3 billion in November last year after BlackRock cut its valuation to about $8.4 billion in May
 "BlackRock slashes Byju's valuation by 95% from $22 bn to $1 bn: Report")
Here's how the world's most valuable learning app Byju's became a trap
The group is facing an acute liquidity crunch. Amid mass layoffs and deep losses, the former billionaire founder has sold his homes to pay salaries
 "Here's how the world's most valuable learning app Byju's became a trap")
Year Ender: 10 big events that shaped the Indian corporate world in 2023
From Hindenburg's report on the Adani Group to the signing of the biggest aircraft orders by Air India and Indigo, India saw several important corporate news in 2023. Here are the 10 most significant
 "Year Ender: 10 big events that shaped the Indian corporate world in 2023")
US-based Code.org sues Byju's-owned WhiteHat Jr over payment dues
In May 2021, Code.org announced the signing of a licensing agreement with WhiteHat Jr, which at that time was providing tutoring services to over 175,000 students worldwide
 "US-based Code.org sues Byju's-owned WhiteHat Jr over payment dues")
Byju's in talks with investors to raise $300 mn in return for more controls
Shareholders call for board rejig so that they can have a bigger say in ops
 "Byju's in talks with investors to raise $300 mn in return for more controls")
Lawyers say Byju's in good health, BCCI's plea to be heard on Jan 17
Byju's gave this response when the NCLT inquired about the company's current status during the hearing of the insolvency plea filed by BCCI against the company
 "Lawyers say Byju's in good health, BCCI's plea to be heard on Jan 17")