Page 16 - Edtech

Edtech major Byju's, lenders agree to amend terms for $1.2 billion loan

Houlihan Lokey serves as financial advisor to the term loan lender group and Kirkland & Ellis LLP, Cahill Gordon & Reindel LLP, and Shearman & Sterling LLP are serving as legal advisors

Byju's vacates its biggest office at Kalyani Tech Park, Bengaluru: Report

By giving up the 558,000 sq ft office space, Byju's might save up to Rs 3 crore per month in rent

GST officials visit Ronnie Screwvala-led upGrad's offices in Mumbai

The edtech stated that it was a routine survey, and that it was fully compliant

Tax officials visit offices of edtech startup upGrad for routine survey

Indian tax officials have visited offices of ed-tech startup upGrad for a routine survey, the company said on Wednesday

Govt orders inspection of Byju's amid financial, corp governance concerns

The corporate affairs ministry has ordered an inspection of the books of BYJU'S, a senior government official said on Monday amid the edtech major facing multiple headwinds, including delay in submitting financial statements and concerns over corporate governance issues. The inspection of Bengaluru-based Think & Learn Pvt Ltd, which operates under the brand BYJU'S, will be carried out by the ministry, which is implementing the companies law. The ministry decided to carry out the inspection after taking note of the developments, including that the company has been unable to finalise its financial statements and that its auditor has resigned, the official told PTI. Earlier this month, the ministry asked the office of the Regional Director in Hyderabad to conduct an inspection of the company, which is registered in Bengaluru, the official said. The official also said that further course of action will be decided after receiving the inspection report. A query sent to BYJU'S seeking ..

Rajnish Kumar, Mohandas Pai to join edtech major Byju's advisory body

Firm appoints ex-upGrad chief as overseas business CEO

Byju's appoints ex-upGrad chief Arjun Mohan as CEO for int'l business

Edtech major Byju's has appointed upGrad's former chief Arjun Mohan as its CEO for international business, according to sources. Byju Raveendran will remain the group Chief Executive Officer (CEO) and Mrinal Mohit will continue to head the India business, the sources told PTI. Byju's declined to comment on the development. Mohan was with Byju's for 11 years as its Chief Business Officer before joining Ronnie Screwvala-promoted upGrad as its India CEO. He resigned from upGrad in December last year. Byju's operates in the US, Canada, Mexico, Australia, the UK, Brazil, and the Middle East, with users in about 100 countries, according to the company website. It owns US-based reading platform Epic and coding site Tynker, acquired for USD 500 million and USD 200 million, respectively. Other overseas acquisitions of Byju's include Singapore-based Great Learning for around USD 600 million and Austria's mathematics operator GeoGebra for USD 100 million. The development comes as the ...

Byju's appoints ex-upGrad chief Arjun Mohan as CEO for int'l biz: Report

Edtech company Byju's has appointed upGrad's former top boss Arjun Mohan as its CEO for international business, according to sources. Byju Raveendran will remain as group CEO and Mrinal Mohit will continue to head the India business, the sources confirmed to PTI. Byju's declined to comment on the development. Mohan was with Byju's for 11 years as its Chief Business Officer before moving on to join Ronnie Screwvala-promoted upGrad as its Chief Executive Officer for India. He resigned from upGrad in December last year.

Fibe eyes upskilling space for lending even as ed-tech faces crunch

The company, which averages around Rs 40 crore in monthly topline sales in the category, partners with upskilling platforms to lend credit to consumers

Govt orders inspection of Byju's account books following turmoil: Reports

The Ministry of Corporate Affairs has sought a report in six weeks, said the people, asking not to be named as the information isn't public

Resignation does not absolve Auditor of onus of reporting fraud: NFRA

The NFRA in a circular has said that it has noticed that auditors are not fulfilling their statutory responsibilities relating to reporting of fraud as required by the Companies Law

Byju's crisis prompts top India VC firm Blume Ventures to shift strategy

Perceived corporate governance lapses are sending shockwaves through the South Asian nation's fledgling startup economy

Byju's CEO speaks to shareholders, firm to set up board advisory committee

Committee will advice CEO on governance structure, says source about edtech giant's plans

Byju's promoters have sold stake worth $408.5 mn since 2015-16: Report

This has taken the promoter shareholding in Byju's to 21.2 per cent currently from 71.6 per cent in 2015-16

Amid deep financial crisis, Byju's and Shah Rukh Khan may part ways

In 2017, Byju's signed Shah Rukh Khan for an annual payment of around Rs 4 crore

Edtech start-up Byju's and lenders renew talks to restructure $1.2 bn loan

Byju's and its lenders have been mired in a conflict for several months following rounds of failed negotiations to revamp its loan agreement

Edtech giant Byju's seeks investors for Aakash Education stake: Report

The company bought Aakash Education for $950 million in 2021

No, Byju, it is about more than your life

A tutorial for EdTech to go back to the elementary

Unacademy's cash burn falls to Rs 1.9 crore, says CEO Gaurav Munjal

"Our FY'24 numbers are going to be awesome. This year is going to be the best year for Unacademy so far," the CEO added

Turmoil at Byju's highlights hurdles for India's startup ecosystem

Already stuck in a 15-month funding slump, India's young companies are in danger of becoming collateral damage to the country's highest-profile startup crisis in years