Rising losses, a poor cash reserve and difficulties in lining up financing are limiting the edtech firm’s options to grow its international business.
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. …
Pradip is a co-founder at The Morning Context and leads our newsletters vertical. He has previously worked at The Ken as a staff writer, at Mint as an assistant features editor and the Deccan Chronicle as a copy editor. He works with a slew of expert newsletter writers across subjects and domains. His own writing spans the gig economy, farmers caught in the crossfire of technology, global warming and parents trapped in the edtech wave. Some of his best stories have come at the intersection of technology and human endeavour.
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