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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.
Rising losses, a poor cash reserve and difficulties in lining up financing are limiting the edtech firm’s options to grow its international business.
Editor's note: The Byju’s-2U deal is off. Byju Raveendran said as much in a recent interview with Moneycontrol. “2U is an acquisition offer we made after getting a $2.4 billion financing commitment from one of the largest banks. As it is a public company, we can’t even make an offer before having the financing in place. We didn’t get the deal. But 2U is still not sold. It is still available…” In the first sentence, Raveendran says Byju’s made an offer, but in the very next, it suddenly isn’t clear whether it did and whether it had actually pulled together the financing. It was Bloomberg that first reported in May that the Bengaluru-based company was in talks to acquire “a US target and likely to bid for either Chegg or 2U”. A few months later, Byju’s was reported to have secured over $2 billion in acquisition financing and made a $15 per share offer to the board of the US-listed 2U. But an official announcement on the transaction never came from either party. The 2U stock, which rose 30% in the week …
Rising losses, a poor cash reserve and difficulties in lining up financing are limiting the edtech firm’s options to grow its international business.
Editor's note: The Byju’s-2U deal is off. Byju Raveendran said as much in a recent interview with Moneycontrol. “2U is an acquisition offer we made after getting a $2.4 billion financing commitment from one of the largest banks. As it is a public company, we can’t even make an offer before having the financing in place. We didn’t get the deal. But 2U is still not sold. It is still available…” In the first sentence, Raveendran says Byju’s made an offer, but in the very next, it suddenly isn’t clear whether it did and whether it had actually pulled together the financing. It was Bloomberg that first reported in May that the Bengaluru-based company was in talks to acquire “a US target and likely to bid for either Chegg or 2U”. A few months later, Byju’s was reported to have secured over $2 billion in acquisition financing and made a $15 per share offer to the board of the US-listed 2U. But an official announcement on the transaction never came from either party. The 2U stock, which rose 30% in the week …
The Mideast tech giant is scaling back verticals in Saudi Arabia and possibly rethinking global operations.
The country’s top VC funds are flush with new fundraises. They must now find opportunities to invest, but that’s easier said than done.
The Indian mother and baby products retailer has been slow to grow in the two largest markets of the Gulf. What gives?
The Mideast tech giant is scaling back verticals in Saudi Arabia and possibly rethinking global operations.
The country’s top VC funds are flush with new fundraises. They must now find opportunities to invest, but that’s easier said than done.
The Indian mother and baby products retailer has been slow to grow in the two largest markets of the Gulf. What gives?
