[ad_1] On March 10, troubled edtech company Byju’s reportedly said it had started distributing a portion of outstanding salaries owed to its employees in February. It further said it will settle the remaining balance once it gets permission to utilize the funds from its recently concluded rights issue. According to a report by money controlIn … Read more
[ad_1] New Delhi: Compounding the woes of edtech giant Byju’s, the Enforcement Directorate has banned its founder Byju Raveendran from traveling outside the country. The central agency has issued a vigilance circular against the 43-year-old businessman. Earlier, the ED had issued an “over insinuation” vigilance circular, which meant that the immigration authorities would inform concerned … Read more
[ad_1] Even as companies Byju’s and Paytm face crises amid investor scrutiny and regulatory hurdles, their employees are looking for new jobs. The total number of employees seeking new jobs is around 13,500 – over 6,500 people from fintech company Paytm and around 7,000 from edtech company Byju’s, according to an ET report. The report … Read more
[ad_1] In a recent communication to employees on February 4, Byju Raveendran, founder and CEO of embattled edtech company Byju’s, announced that the company has successfully disbursed all pending January salaries to its employees for the last two days. “I know they told you that you will receive your salary on Monday. You didn’t even … Read more
[ad_1] As many as six shareholders of Byju’s parent company Think and Learn Private Limited have moved a resolution to oust the founders from control of the edtech company amid the financial crisis, PTI reported citing sources. Byju Raveendran of Think and Learn Pvt. Limited. Ltd which runs edtech startup Byju’s (Livemint). {{^subscribeduser}} {{/subscribeduser}} {{^subscribeduser}} … Read more
[ad_1] Story continues below The board of Think and Learn Pvt Ltd, the parent company of Byju’s, has approved a rights issue to raise $200 million from existing investors, effective January 29 and valid for 30 days, sources said. The issuance will come at a post-money valuation of $225 million, which is 99 percent lower … Read more