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Byju’s goes to war: $2.5 billion lawsuit brewing against Glas Trust; here’s what the matter is about

Byju's founders Byju Raveendran and Divya Gokulnath are preparing a $2.5 billion lawsuit in India and overseas as the edtech giant battles insolvency proceedings and a legal dispute with Glas Trust, ...
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Byju’s founders plan $2.5 billion lawsuit against Glas Trust, others for reputational damage

Byju Raveendran and Divya Gokulnath, founders of Byju’s, are planning to sue Glas Trust and other lenders of the embattled edtech firm, seeking $2.5 billion in damages for alleged reputational harm, ...
inc42

Former Employees Ask BYJU’S To Pay INR 2.3 Cr Salary Dues Or Face Insolvency Proceedings

Bengaluru-based law firm Canvas Legal has issued the demand notice of over INR 2.3 Cr on behalf of 62 former employees of BYJU’S BYJU’S has been given 10 days time as per the Insolvency And Bankruptcy ...
TechCrunch

Byju’s seeks new funding at less than $2 billion valuation, a 90% drop

Byju’s, once valued at $22 billion, is willing to cut its valuation to below $2 billion as it hunts for new funding, a person familiar with the matter told TechCrunch. The Bengaluru-headquartered ...
TechCrunch

Byju’s sues ‘predatory’ lenders on $1.2B term loan, won’t make further payments

Indian edtech giant Byju’s has filed a complaint in the New York Supreme Court to challenge the acceleration of the $1.2 billion term loan B, calling their demands for prepayment of the entire amount ...
The Verge

Byju’s may no longer be Byju’s after shareholders vote out Byju.

Byju Raveendran is CEO of the company once described as India’s most valuable startup, but... maybe not anymore? Byju’s is an app-based educational company that’s snapped up US firms like Osmo (you ...
Forbes

Former Edtech Billionaire Byju Raveendran’s Net Worth Plummets To $100 Million After Byju’s Latest Markdown

Forbes contributors publish independent expert analyses and insights. I write about Indian entrepreneurs. Troubled Indian edtech firm Byju’s is in the spotlight again. Amsterdam-listed investment ...
Bloomberg L.P.

Byju’s Seeks More Time From Lenders to Recast $1.2 Billion Debt

Byju’s, the world’s most valuable edtech startup, has sought more time from creditors to renegotiate an agreement governing a $1.2 billion loan that is in breach of covenants, according to people with ...
techtimes

Indian Startup Byju's To Restructure $1.2 Billion Loan Amidst Steep Losses

One of the most valuable Indian startups, Byju's, plans to restructure its $1.2 billion loan while dealing with cost reduction targets. According to Bloomberg, the online education firm Byju's is ...
Forbes

Indian EdTech Billionaire’s Firm Byju’s Combats Speculation About Its Finances, Eyes $2 Billion Acquisition

There’s been a lot brewing lately at Bangalore edtech giant Byju’s, which is backed by investors such as Tencent and Facebook’s Mark Zuckerberg and was last valued in March at $22 billion. It has been ...
Business Wire

Steering Committee of Ad Hoc Term Loan Lenders and BYJU’S Agree to Complete Loan Amendment by August 3, 2023

NEW YORK--(BUSINESS WIRE)--The steering committee (the “SteerCo”) of ad hoc term loan lenders, who collectively own more than 85% of BYJU’S $1.2 billion term loan, today announced that it and BYJU’S ...