Byju Raveendran: News
Legal troubles mount for BYJU'S founder in the US
Byju Raveendran, the founder of edtech giant BYJU'S, has been held in civil contempt by the US Bankruptcy Court for the District of Delaware.
Indian government launches new probe into BYJU'S financial misconduct
The Indian government has launched an investigation into the financial and accounting practices of BYJU'S, the beleaguered online tutoring firm.
'Came for father's treatment': Byju Raveendran dismisses Dubai relocation rumors
Byju Raveendran, the founder of ed-tech start-up BYJU'S, has denied rumors of his move to Dubai.
BYJU'S defaulted on $1.5 billion loan, rules US court
The Supreme Court of Delaware, US, has ruled that Indian edtech giant BYJU'S failed to repay a $1.5 billion loan.
Supreme Court halts BYJU'S settlement with BCCI: Here's why
The Supreme Court of India has stayed National Company Law Appellate Tribunal's (NCLAT) decision, which allowed a settlement between edtech giant BYJU'S and the Board of Control for Cricket in India (BCCI).
Government probe clears BYJU's of fraud but flags governance lapses
The Indian government has absolved online-education startup BYJU'S of financial fraud following a yearlong investigation by the Ministry of Corporate Affairs.
BYJU'S term loan lenders initiate bankruptcy proceedings against US assets
Term-loan lenders of BYJU'S Alpha Inc and Glas Trust Company have initiated involuntary Chapter 11 bankruptcy proceedings against three US-based guarantors - Epic Creations Inc, Neuron Fuel Inc, and Tangible Play Inc.
US court penalizes BYJU'S co-founder Riju Ravindran for concealing funds
Riju Ravindran, co-founder of the edtech behemoth BYJU'S, has been penalized by a US Bankruptcy Court for contempt.
BYJU'S India CEO Arjun Mohan resigns, founder Raveendran takes charge
Arjun Mohan, the CEO of BYJU'S India, has resigned from his position just over six months after assuming it.
From billionaire to zero: Byju Raveendran's net worth wiped out
Byju Raveendran, the co-founder of edtech giant BYJU'S, has been removed from Forbes's World's Billionaires List 2024.
BYJU'S invites dissenting shareholders to participate in rights issue
BYJU'S, the edtech company currently facing challenges, has extended an invitation to its dissenting shareholders to participate in a rights issue within the next 72 hours.
BYJU'S shuts down offices, asks employees to work from home
The road to recovery seems distant for BYJU'S while it grapples with maintaining cash flow.
NCLT issues fresh insolvency notice to BYJU'S: Here's why
The National Company Law Tribunal (NCLT) has served a notice to crisis-ridden BYJU'S, following a plea submitted by US-based GLAS Trust Company.
BYJU'S dramatic EGM ends, Karnataka HC to decide founder's ouster
BYJU'S held an extraordinary general meeting (EGM) today to vote on the removal of CEO and founder Byju Raveendran.
Why Enforcement Directorate has restricted Byju Raveendran from leaving India
Acting on the Enforcement Directorate's (ED) order, the Bureau of Immigration (BOI) has issued a lookout circular (LOC) against Byju Raveendran, the founder and CEO of BYJU'S.
BYJU'S raises $200M through rights issue at 99% valuation cut
BYJU'S , the embattled edtech company, has managed to raise $200 million through a fully subscribed rights issue at a 99% valuation cut, as reported in a shareholder letter written by founder and CEO Byju Raveendran.
BYJU'S gets lifeline with $300M pledge ahead of rights issue
Edtech giant Think and Learn, which operates under the BYJU'S brand, has secured a $300 million commitment from investors for its ongoing rights issue, as per PTI.
BYJU'S accuses investors of 'conspiring' against company, delays employee salaries
BYJU'S leadership has accused some investors of plotting to remove top executives during a challenging time, as stated in a letter to employees.
Defaulting on $1.2B loan, BYJU'S US unit files for bankruptcy
BYJU'S Alpha Inc., a subsidiary of Indian edtech giant BYJU'S, has filed for bankruptcy protection in the US after defaulting on $1.2 billion loan.
BYJU'S slashes valuation by 99% in desperate funding bid
BYJU'S has cut its valuation as by a staggering 99% in the latest rights issue. Once touted as the world's most valuable edtech start-up, the company is struggling to raise money.
Billionaire behind Manipal Group becomes largest stakeholder in BYJU'S Aakash
Ranjan Pai, the billionaire chairman of Manipal Education and Medical Group, has bought a 40% stake in BYJU'S Aakash Education Services Ltd. for $300 million.
BYJU'S plans to raise funds at 90% discounted valuation
Embattled edtech unicorn BYJU'S is looking to raise over $100 million from current investors at a massive 90% discount to its previous $22 billion valuation, per Bloomberg.
BYJU'S founder pledges homes to pay staff their salaries
Byju Raveendran, the founder of Indian edtech giant BYJU'S, pledged his and his family members' homes.
Prosus downgrades edtech giant BYJU's valuation to less than $3bn
Tech investor Prosus has reduced the value of its investment in Indian edtech giant BYJU'S, leading to a company valuation of under $3 billion.
ED uncovers Rs. 9,000cr FEMA violation at BYJU'S, issues notice
The Enforcement Directorate (ED) has issued a show-cause notice to BYJU'S, accusing the company of violating the Foreign Exchange Management Act (FEMA) to the tune of Rs. 9,000 crore.
BYJU'S founder in talks to sell controlling stake in Aakash
BYJU'S CEO Byju Raveendran, is in talks with private equity firms like Bain Capital and KKR about selling a controlling stake in Aakash Educational Services Ltd (AESL), the Economic Times has reported.
BYJU'S accused of hiding $533 million from lenders
In a startling turn of events, edtech giant BYJU'S has been accused by lenders of hiding a substantial sum of $533 million in a little-known hedge fund named Camshaft Capital Fund, per Bloomberg.
BYJU'S eyes $1 billion from non-core asset sales
India's most-valued start-up, BYJU'S, is conducting a strategic review of its assets to put on sale non-core subsidiaries and refocus on core, profitable segments, per Moneycontrol.
BYJU'S fails to pay performance-linked incomes to tuition center staff
India's edtech giant, BYJU'S has failed to pay performance-linked incentives to its tuition center staff since September 2022, as per Moneycontrol.
BYJU'S, lenders miss August 3 deadline to rework loan terms
BYJU'S and its lenders missed the August 3 deadline for loan amendment talks, with hopes of a resolution after Byju Raveendran's call with lenders next week.
Ex-BYJU'S employee cries, seeks government's assistance over 'toxic' work culture
A now-former BYJU'S employee has reached out to the government, accusing her ex-employer of terminating her suddenly. In a video, she stated that she would have no option but to end her life if "justice" isn't delivered.
BYJU'S founder Raveendran broke down amid crises: Report
Byju Raveendran, the founder of BYJU'S, broke down in tears after the Enforcement Directorate (ED) raided the Bengaluru offices of the company in April, Bloomberg reported.
Government to inspect financial records of BYJU's, India's most-valued start-up
It is an endless queue of trouble for edtech giant BYJU'S. India's most valuable start-up has been under the scrutiny of lenders and investors for a while.
BYJU'S boardroom drama: Here's what led to resignation of directors
The last few days have been critical for BYJU'S, India's most valuable start-up. The company lost its auditor and three non-promotor directors in the same week, raising questions about its corporate governance.
BYJU'S: 3 key board members tender resignation over lender fiasco
Trouble seems to have a way of targeting BYJU'S, India's most valuable start-up. The company has been involved in a spat with its lenders for a while.
BYJU'S: Round-up of controversies surrounding the edtech giant
BYJU'S is never far from the headlines. The high-flying edtech firm has been embroiled in multiple controversies over the past year.
ED searches BYJU'S CEO's premises over violating foreign funding laws
The Enforcement Directorate (ED) on Saturday, searched three premises belonging to Byju Raveendran, the founder and CEO of Think and Learn Private Ltd. It runs the edtech platform BYJU'S.
Why is BYJU'S raising $250 million at a lower valuation
BYJU'S, the world's most valuable edtech company, is in the advanced stages of raising $250 million. Earlier when the company raised the same amount, it was valued at $22 billion.
BYJU'S mulls closing down WhiteHat Jr, its loss-making coding platform
When edtech giant BYJU'S acquired the coding platform WhiteHat Jr, it was touted as a great decision. How has time changed?
#NewsBytesExplainer: Billionaires who lost their fortune in the recent past
From Elon Musk losing $100 billion in a single calendar year to Sam Bankman-Fried's personal wealth being completely wiped out, the past year has been chaotic for some of the world's richest.
BYJU'S fires over 1,000 employees after promising no more layoffs
BYJU'S, the world's most valuable edtech company, has been struggling due to slow revenue growth and scarcity of funding. The company has now decided to slash over 1,000 jobs as part of a new cost-cutting initiative.
Year in review: BYJU'S highs and lows in 2022
2022 has been a year to forget for tech companies. The pandemic-driven boom was followed by a post-pandemic reality check.
Ex-employees claim BYJU's forced them to sign pre-drafted resignation letters
BYJU'S employees who were laid off before the company's recently announced job cuts have made some serious allegations against the company.
BYJU's acquires Aakash Educational Services for $1 billion
Popular online teaching platform BYJU's announced on Monday that it has acquired Aakash Educational Services Limited, a chain of physical coaching centres in the country, for nearly $1 billion.
Ed-tech unicorn BYJU's secures $122 million from Russian billionaire's fund
Homegrown ed-tech unicorn BYJU's has raised $122 million (Rs. 909 crore) from DST Global, the investment fund started by Russian tech billionaire Yuri Milner.
Karan Bajaj, the yogi who sold his start-up for $300mn
Successful entrepreneurs are hailed for how they hold onto their idea and make it big in the market.