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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.
The edtech startup acquired Aakash Educational Services, in which Blackstone has a 38% stake, last year for $1 billion in cash and stock.
Editor's note: Byju’s troubles seem never-ending. The Morning Context has learnt that the Bengaluru-based company hasn’t fully paid the Chaudhrys and private equity firm Blackstone Group for its acquisition of Aakash Educational Services Ltd (AESL) last year. AESL and Blackstone are planning to serve Byju’s notice for non-payment. “Aakash and Blackstone haven’t been fully paid for the acquisition yet and things have got serious now,” says a person in the know, asking not to be named. “Byju’s has the money, but if the company clears these payments, it might not be left with a comfortable runway, especially as funding dries up and its SPAC plans seem nowhere on the horizon.” Byju’s—India’s largest edtech company with a valuation of $22 billion—acquired AESL in June 2021 for $1 billion in cash and stock in what was the biggest deal in the industry. At the time of the acquisition, the Blackstone Group held just over 38% in AESL through Singapore VII Topco I Pte Ltd and BCP Asia Athena ESC (Cayman) Ltd, with the promoters holding the rest. Founder J.C. Chaudhry owned about 55% of …
The edtech startup acquired Aakash Educational Services, in which Blackstone has a 38% stake, last year for $1 billion in cash and stock.
Editor's note: Byju’s troubles seem never-ending. The Morning Context has learnt that the Bengaluru-based company hasn’t fully paid the Chaudhrys and private equity firm Blackstone Group for its acquisition of Aakash Educational Services Ltd (AESL) last year. AESL and Blackstone are planning to serve Byju’s notice for non-payment. “Aakash and Blackstone haven’t been fully paid for the acquisition yet and things have got serious now,” says a person in the know, asking not to be named. “Byju’s has the money, but if the company clears these payments, it might not be left with a comfortable runway, especially as funding dries up and its SPAC plans seem nowhere on the horizon.” Byju’s—India’s largest edtech company with a valuation of $22 billion—acquired AESL in June 2021 for $1 billion in cash and stock in what was the biggest deal in the industry. At the time of the acquisition, the Blackstone Group held just over 38% in AESL through Singapore VII Topco I Pte Ltd and BCP Asia Athena ESC (Cayman) Ltd, with the promoters holding the rest. Founder J.C. Chaudhry owned about 55% of …
The UAE-based school operator is making a move into Saudi Arabia as it enters its biggest expansion phase yet.
A $5 billion logistics platform in the Emirates, a group of Indian fraudsters caught in a conference con and Saudi Arabia’s troubles.
The investment signals a shift from structured learning to bite-sized, bingeable learning that mixes entertainment with education. But can it deliver real-world skills?
The UAE-based school operator is making a move into Saudi Arabia as it enters its biggest expansion phase yet.
A $5 billion logistics platform in the Emirates, a group of Indian fraudsters caught in a conference con and Saudi Arabia’s troubles.
The investment signals a shift from structured learning to bite-sized, bingeable learning that mixes entertainment with education. But can it deliver real-world skills?
