Byju’s, the Indian edtech giant, is in talks to raise $1 billion in fresh funding. The company is looking to bring in new investors to help it sidestep a shareholder revolt.
A group of Byju’s shareholders, including former employees and venture capitalists, have been calling for a change in the company’s management. They are unhappy with the company’s recent financial performance and its high valuation.
Byju’s is offering benefits to the potential investors, including preferential treatment in the case of liquidation. The company is also hoping to close the funding round within two weeks.
The proposed funding round would be a significant boost for Byju’s. It would help the company to shore up its finances and to continue its expansion plans. However, it is unclear whether the shareholder revolt will be resolved even after the funding round is completed.
Here are some additional details about the proposed funding round:
- The new investors are expected to be a mix of private equity firms and strategic investors.
- The funding round is expected to value Byju’s at around $22 billion.
- The funding round is being led by Accel Partners and Tiger Global Management.
The proposed funding round is a sign that Byju’s is still seen as a valuable asset by investors. However, it remains to be seen whether the company will be able to resolve the shareholder revolt and to return to its previous growth trajectory.
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