/
•
•
Byju’s is going all out to raise any money it can find
From raising debt to fund equity infusions to wooing banks, the edtech company’s current funding push is hard to parse.
8 June, 2022•12 min
0
8 June, 2022•12 min
0
Getting your Trinity Audio player ready...
Why read this story?
Editor's note: Take stock of all the news surrounding Byju’s. There’s the story of its listing in the US through a merger with a special purpose acquisition company, or SPAC. Bloomberg first reported on 16 December that the Bengaluru-based company, India's largest edtech and then valued north of $21 billion, was in talks for a SPAC merger. It reported again in January that the company was aiming for a SPAC merger within a month. Then there was news in May that Byju's is in talks with banks, including Morgan Stanley and JPMorgan Chase, to raise more than $1 billion in debt for acquisition financing. Four days later, Bloomberg reported that the company was in talks to acquire “a US target and likely to bid for either Chegg or 2U”. A day later, The Economic Times reported that the company was in talks to acquire textbook rental startup Chegg. While all of this was happening with a view of the US market, back in India Byju’s has been securitizing and selling its receivables. We wrote about it in depth here. In March, Byju’s …
More in Internet
Internet
Pratilipi has 20 million stories but no big hits. Can microdramas deliver one?
The online storytelling company is betting that content will be the most sought-after commodity as scores of platforms jump on the microdrama bandwagon. But success will hinge on whether it has a good enough story to draw the audience.
