🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
✕
Login
Home
News
Messages
Startup Showcase
Trackers
Premium
Premium Content
Jobs
Notifications
Settings
Try our Valuation Calculator →
Log In
News on Medial
Byju’s investors set up working group to engage with edtech months after stepping down from board
Money Control
·
1y ago
Medial
Six major investors of Byju's, including General Atlantic and Prosus, have formed an informal working group to stay connected with the company, monitor its progress, and provide suggestions. This move comes after three key investor board members resigned due to disagreements with the founder and CEO. Byju's has been facing various challenges, such as alleged mis-selling, management resignations, mass layoffs, and financial probe by India's Enforcement Directorate. The company has also been dealing with repayment issues to its international creditors and selling assets to repay loans.
View Source
Related News
Byju’s India CEO Arjun Mohan resigns, founder Raveendran to return to helm daily ops
Economic Times
·
1y ago
Medial
Arjun Mohan, CEO for Byju's India, is stepping down from his role after just six months. This comes as the edtech firm faces challenges with investors and a deepening crisis. Byju Raveendran, the founder, will now take control of the company's daily operations. Mohan led the clean-up of the company's workforce and was involved in the restructuring, but the firm still faces financial issues, including pending salaries for employees. Raveendran plans to consolidate the India business into three divisions: App & AI, test preparation, and tuition centers.
View Source
NCLT to hear Byju’s investors’ ‘oppression and mismanagement’ suit on Tuesday
Thehindubusinessline
·
1y ago
Medial
The Bengaluru bench of the National Company Law Tribunal (NCLT) is set to hear a petition filed by several investors of edtech giant Byju's, alleging oppression and mismanagement by the company's management. The investors are seeking the removal of the founders, a new board appointment, a declaration of the recent rights issue as void, and a forensic audit. The petition comes amidst a larger conflict between Byju's leadership and its investors, with a recent extraordinary general meeting resulting in the removal of the CEO and changes in the board.
View Source
Byju’s $200 m rights issue fully subscribed, says CEO Raveendran
Thehindubusinessline
·
1y ago
Medial
Edtech giant Byju's successfully raised $200 million through a rights issue, according to CEO Byju Raveendran. This comes after the company announced plans to raise funds through a rights issue in January. Raveendran expressed gratitude towards shareholders but also urged major investors to participate, amid a rift between Byju's and some of its largest shareholders. The company is facing financial challenges and some investors are seeking to replace the leadership and restructure the board. Raveendran committed to board restructuring and appointing non-executive directors after the FY23 Audit. Byju's is also set to launch an artificial intelligence tool called Byju's Wiz.
View Source
Byju’s CFO was tasked with changing auditor amid deteriorating ties with Deloitte, sources say
Money Control
·
2y ago
Medial
According to sources, the CFO of BYJU'S, India's prominent edtech startup, was allegedly given the responsibility of changing the company's auditor. This development comes in the wake of recent corporate governance lapses at BYJU'S, including the resignation of Deloitte Haskins & Sells as the auditor. The Ministry of Corporate Affairs is reportedly examining these governance issues. While an auditor stepping down is a red flag for a company, Deloitte’s resignation was in the works after relations broke down between the big four audit giant and Byju’s.
View Source
Baron Capital marks up Swiggy, Pine Labs valuation; almost halves Byju’s value
Economic Times
·
1y ago
Medial
US asset management firm Baron Capital Group has increased the valuations of food delivery firm Swiggy and fintech platform Pine Labs as of June this year, citing a positive outlook on India's macroeconomic environment. However, Baron slashed the valuation of edtech company Byju’s by almost half due to recent events, including changes in auditors and board resignations. This reflects Byju’s challenges, including disagreements with lenders, investors, employees, and customers. Despite this, Baron still sees potential in Byju’s as India's largest edtech player with structural growth opportunities in online education services.
View Source
BYJU’S seeks $300 Mn infusion from investors in exchange for larger shareholding
Inc42
·
1y ago
Medial
BYJU'S CEO Byju Raveendran has requested investors to infuse $300 million into the troubled edtech firm in exchange for a larger shareholding. Shareholders have also urged Raveendran to revamp the company's board to have a greater say in its operations. The negotiations are ongoing, and a deal could materialize in the coming months. This development comes amid multiple legal and governance challenges faced by BYJU'S, including a legal battle with lenders and the Enforcement Directorate's investigation for alleged violations.
View Source
BYJU’S Gets $300 Mn Commitment In Ongoing Rights Issue
Inc42
·
1y ago
Medial
Parent company Think and Learn, which owns edtech giant BYJU'S, has secured a commitment of $300 million from investors for its ongoing rights issue. The rights issue aims to raise $200 million through equity rights, valuing BYJU'S at $220-250 million. Negotiations are taking place with unhappy investors to encourage their participation in the rights issue. BYJU'S also plans to appoint two independent directors to its board after finalizing its financial results for fiscal year 2023. The troubled edtech firm has faced losses, business model challenges, and conflicts with investors in recent years.
View Source
[Live Updates] BYJU’S At War: Everything You Need To Know About Byju Raveendran’s Battle With Investors
Inc42
·
1y ago
Medial
BYJU'S, the edtech giant, is facing a battle with its investors as they call for an extraordinary general meeting (EGM) to reconstitute the board and change the leadership. The EGM, held on February 23, saw most investors voting in favor of removing co-founder and CEO Byju Raveendran from the company. BYJU'S challenged the validity of the resolutions passed at the EGM, claiming the meeting was attended by a select group of shareholders. Amidst this turmoil, BYJU's founder and CEO assured employees that it's business as usual.
View Source
OpenAI announces new board members, reinstates CEO Sam Altman
TechCrunch
·
1y ago
Medial
Sam Altman is rejoining the board of directors at artificial intelligence research lab OpenAI, months after stepping down as CEO. Three additional members will also join the board, bringing the total to seven. The move follows criticism of the board's lack of diversity and the nomination of economist Larry Summers, who has made controversial remarks about women. Altman's reinstatement comes after an investigation concluded that his departure was due to a breakdown in trust between him and the prior board.
View Source
Byju Raveendran Blames Investors For Driving BYJU’S Valuation To Zero
Inc42
·
10m ago
Medial
BYJU Raveendra blames investors for BYJU'S downfall, stating that their push for aggressive expansion and subsequent desertion of the company when the market downturned led to the edtech giant's valuation dropping to zero. Raveendran adds that it became impossible for BYJU'S to raise funding after three marquee investors left its board last year.
View Source
Trackers
Active Indian VC’s
OG Capital
Email
With a hands-on approach, OG Capital aims to invest in over 20 promising...
Accel Partners
Email
Early and growth-stage investments in disruptive technology companies with...
Blume
Email
Early-stage venture capital firm investing in technology startups in India. Focus on...
Access All Trackers
Startup Showcase Winners
June 2025
Buddy
Helping your parents when you are miles away
BiteStop
The Pit Stop Your Cravings Deserve
Bloomer
The next generation E-commerce platform
Enter Ongoing Startup Showcase
Top Users
Trending News on Medial
Download the medial app to read full posts, comements and news.
Go to Medial App
Not Now
Know everything that’s happening in the startup ecosystem, first.
Enable Notifications?
No, thanks
Count me in
![[Live Updates] BYJU’S At War: Everything You Need To Know About Byju Raveendran’s Battle With Investors](https://inc42.com/wp-content/uploads/2024/02/BYJUS-Statutory-Violations-social.png)
