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| Name | Byju's Seeks $250 Million Pre-IPO Funding for Aakash: Report |
| Video Uploader | Video From Indian Journo |
| Upload Date | This Video Uploaded At 09-03-2023 08:41:06 |
| Video Discription | According to reports, Byju's, the world's most valuable edtech startup, is seeking $250 million in convertible notes from its tutoring service unit. Aakash Educational Services will issue the notes, which will be convertible into equity at a 20% discount to the unit's planned initial public offering, according to the article. The fundraising by Aakash will help Byju’s, which is struggling with the delay in its fundraising due to a prolonged due diligence process, tide over its liquidity crunch. The Bengaluru-based company had started conversations with bankers late last year to pick arrangers for Aakash’s IPO, Bloomberg News has reported. Last month, Byju’s laid off over 1,000 employees. Out of these, 15 percent were in engineering roles. It also said all freshmen had been fired by the company in the latest round of layoffs. Indian Journo is the medium of informing you on the latest and various news events and will help you stay up to date on the events shaping our world. You can also follow Indian Journo's social media platforms and engage with us. Like INDIAN JOURNO on Facebook: http://bit.ly/ij_fb Follow INDIAN JOURNO on Instagram (@indianjourno): http://bit.ly/ij_insta Follow INDIAN JOURNO on Twitter: http://bit.ly/ijtwt Follow INDIAN JOURNO on Linkedin: http://bit.ly/ijlkdin Subscribe to INDIAN JOURNO on YouTube: http://bit.ly/ijyt Follow INDIAN JOURNO on Telegram: http://bit.ly/ijteg Get Closer to the News with latest headlines on politics, sports, and entertainment on indianjourno.com http://bit.ly/ij_web Don’t forget to hit the subscribe button to never miss a video from Indian Journo. |
| Category | News & Politics |
| Tags | breakingnews | news | covid | coronavirus | india | trending | viral | breaking | sports | corona | latest news | media | update | sports news | lockdown | news update | politics | dailynews | news today | india latest news | today's news | Byju | Aakash | edtech startup | IPO | Bengaluru |
