BlackRock, an investor in Byju’s, estimates that its stake of Indian edtech giant, once valued at $ 22 billion, is now worth nothing. The write-down in its estimations, disclosed in an SEC filing, makes Byju’s one of the most spectacular startup slides in recent memory. BlackRock’s disclosure for the period ending March this year follows […]
HSBC believes that $22 billion Byju’s is now worth zero
In a research note, HSBC estimates that the Indian edtech giant Byju’s, once valued at $ 22 billion, is now worth nothing. The write-down in its estimation makes Byju’s one of the most spectacular startup slides in recent memory. It follows a very rough year for the Bengaluru-based startup, which was India’s most valuable not […]
Byju’s founder floats share offer to make peace with estranged investors
Byju Raveendran, the founder of embattling edtech group Byju’s, has made a last-ditch attempt to placate the Indian startup’s disgruntled investors, informing them that the board is weighing an offer of renounced shares to prevent dilution of their holdings. In an email to shareholders Friday morning, a copy of which TechCrunch has reviewed, Raveendran said […]
India’s tribunal court allows Byju’s to proceed with key EGM
Byju’s secured favorable outcomes in two court hearings Thursday, paving the way for the embattled edtech startup to move ahead with the extraordinary general meeting scheduled for Friday. The National Company Law Tribunal refused to defer on Thursday Byju’s planned EGM, where the Indian startup seeks to increase the authorized share capital to give effect […]
Camshaft says Byju’s unit beneficial owner of $533 million funds
Camshaft disclosed in court filings this week that some $ 533 million it managed for Byju’s Alpha, a U.S. unit of Indian edtech group Byju’s, was transferred to another 100% and U.S.-based subsidiary of Byju’s, thereby refuting allegations that the Indian firm used the wealth manager’s services to misappropriate money. In the court filings, Camshaft […]