
Byju's to list Aakash Institute by mid-2024
The Bengaluru-headquartered edtech unicorn acquired Aakash Institute in April 2021, for a cash and stock deal worth ₹1,983 crore.
The Bengaluru-headquartered edtech unicorn acquired Aakash Institute in April 2021, for a cash and stock deal worth ₹1,983 crore.
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.
The edtech unicorn will lay off around 380 employees.
The child rights organisation has already summoned Byju Raveendran on December 23 over alleged malpractice of hard selling and misspelling of its courses to the students, based on a news report.
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The development comes days after India's most valued startup said it will lay off 2,500 employees.
The development comes a week after Byju’s employees met labour minister of Kerala V Sivankutty, urging him to intervene over the alleged mass termination of as many as 140 employees at Technopark.
These measures will help us achieve profitability in the defined time frame of March 2023, says Byju's.
Byju's roadmap includes going deeper into India with more regional languages, and explore the prospect of becoming a global player, says co-founder Divya Gokulnath.