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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
In February, the Naspers-owned investment firm was among the key shareholders who called for an EGM to remove founder and CEO Byju Raveendran and family from the edtech company’s board.
Global investment major Prosus has written off its entire 9.6% stake in Bengaluru-based edtech startup Byju’s. The Netherlands-based company, which has also backed Tencent, Swiggy and Stack Overflow, was Byju’s largest external investor. Over the years, it has reportedly invested over $570 million in the company.
In its annual report, Prosus said it “wrote off the fair value of its 9.6% effective interest in Byju’s, due to the decrease in value for equity investors. A fair value loss of $493 million was recognised in other comprehensive income in the current year”.
The write-off by Prosus comes after repeated slashing …
A string of deals and bets signal the ride-hailing company’s ambition to dominate delivery, but questions and challenges remain.
The technology investor’s move to pour Rs 2,000 crore into the online travel aggregator comes as a surprise. Can ixigo live up to the promise of becoming India’s next big travel platform?
Amid creditors’ allegations that the missing $533 million from a term loan is being quietly used to settle cases in India, Delaware bankruptcy court grants them unrestricted use of confidential documents to pursue the matter.
