Byju’s in talks with investors to raise $300 mn in return for more controls

3

With investors asking for a change in the board structure at Byju’s, the edtech giant’s founder and chief executive officer (CEO), Byju Raveendran, is now asking them to put $300 million into the company for more control. 

The company has rung up $5.8 billion from investors such as General Atlantic, Sofina, the Qatar Investment Authority, Sumeru Ventures, Vitruvian Partners, BlackRock, Chan Zuckerberg Initiative, Seq­uoia, Silver Lake, Bond Capital, Tencent, and Tiger Global.
The shareholders have asked Raveendran to revamp the board so that they can have a bigger say in company operations. Byju’s however continues to be troubled to meet financial commitments and even profitability.