
Byju's massive restructuring to affect 3,500 employees
The restructuring will have an impact on 3,000-3,500 jobs, Fortune India has learnt.
The restructuring will have an impact on 3,000-3,500 jobs, Fortune India has learnt.
The council will play a pivotal role in advising and mentoring BYJU'S board and its CEO, Byju Raveendran, on crucial matters.
Auditor resignation brings more bad news for the edtech start-up.
That's around 75% lower than Byju's staggering $22 billion valuation last year.
Deloitte, which was appointed as Byju's auditor till 2025, said it has not been able to commence the audit as on date
The Bengaluru-headquartered edtech unicorn acquired Aakash Institute in April 2021, for a cash and stock deal worth ₹1,983 crore.
Blackrock, which manages over $10 trillion in assets, had first entered Byju's roster of marquee investors at a $12-billion valuation in 2020.
Alpha Inc, a non-operative entity of the company in the US, is currently facing a lawsuit in the Delaware court, on behalf of the lenders, who are owed $1.2 billion.
Byju Raveendran says the startup has received ₹28,000 crore as FDI.
Edtech startup says the visit by officials from the Enforcement Directorate was related to a 'routine inquiry' under FEMA.