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Byju’s has witnessed a staggering decline of approximately 90 per cent in the past year. New Delhi: Edtech firm Byju’s parent company, Think & Learn Pvt, has found itself embroiled in a complex web of financial mismanagement, offshore dealings, and legal disputes. At the centre of it is $533 million, a Florida hedge fund, a…
Read More “Mystery Of Byju’s ‘Hidden’ $533 Million Stuck In Offshore Trust” »
Byju’s logo. | Photo Credit: REUTERS Byju’s founder Byju Raveendran on March 2 said the edtech company will not be able to pay salaries to employees as the recent funds raised through a rights issue are inaccessible due to a legal dispute with certain investors. In a letter to staff, Mr. Raveendran said the rights…
Majority of Byju’s shareholders on Friday voted unanimously for removing founder CEO Byju Raveendran and his family from the board over alleged “mismanagement and failures” at what was once India’s hottest tech startup, but the company dug in its heels, calling the voting done in absence of founders as invalid and ineffective. Founder CEO Raveendran…