Key Points
While sounding optimistic about a turnaround, Raveendran said the edtech had taken the best decision in the world when it took the Term Loan B (TLB), which was the easiest capital..
Three of Byjus key investorsProsus, Peak XV Partners, and the Chan Zuckerberg Initiativeresigning from the board at the same time in 2023 was one of the biggest setbacks for the troubled edtech firm, making it impossible for the company to raise funds, founder Byju Raveendran said Thursday...
In June 2023, ET first reported that early backer GV Ravishankar, managing director at Peak XV Partners (formerly Sequoia Capital India), along with Russell Dreisenstock of Prosus (previously Naspers) and Vivian Wu of Chan Zuckerberg Initiative, had stepped down from Byjus board...
The US lenders, represented by Glas Trust Co LLC, had opposed the settlement between Byjus and the Board of Control for Cricket in India (BCCI) alleging the money paid by Raveendrans brother Riju Ravindran was tainted..
On August 27, a group of investors including General Atlantic Singapore TL Pte Ltd, Peak XV Partners Investments IV, Peak XV Partners Investments V, Sofina SA and MIH Edtech Investments, which together own 16.75% of the companys issued and paid-up share capital, moved the Supreme Court...
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