Byju Raveendran, the eponymous founder of Indian edtech titan Byju’s, has pledged his home as well as those owned by his family members to raise money for paying employees as the company battles a cash crunch, according to people familiar with the matter.
While investors of Byju's have been asking Raveendran to step aside from an operating role, this is the first instance of shareholders banding together to issue a statement seeking a change of guard at the company. The current board of Think & Learn comprises Raveendran, his wife and brother...
In response to uncertainties regarding the utilisation of funds raised through a rights issue last month, the company has directed its entire workforce of over 20,000 employees to indefinitely operate remotely
Earlier this week, a WhatsApp group of parents whose children attend Byju’s Tuition Centres in Jodhpur, Rajasthan, suddenly lit up with activity. This group, which The CapTable has accessed, was created last year. Back then, it was a way for concerned parents to coordinate their efforts to hold the
A group of four investors had moved the NCLT against Byju's $200-million rights issue at a 99% discount to the firm's peak valuation of $22 billion. On 27 February, the NCLT directed Byju's to keep the proceeds from the rights issue in a separate escrow account.
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