Menu
BW CFO World
Community for Finance Professionals, Consultants and allied businesses
  • Home
  • News
  • Videos
  • Articles
    • Credit & Capital
    • Economic Trends
    • Financial Compliance
    • Financial Leadership
    • Financial Management
    • Financial Reporting
    • Financial Strategy
    • Risk Management
    • Taxation
  • Featured
  • Nominate for Awards
Close Menu
20211213_125712
September 5, 2022

BYJU’s Likely To Raise $500mn: Reports

Urvi Srivastava Financial Reporting Byjus, edtech, investment, MIT

The investment will be used by the business for inorganic development, particularly in the US, the source claims

BYJU’S, a leading provider of educational technology, is prepared to raise  more than $500 million (about Rs 3,900 crore) in less than a week at a valuation of approximately $23 billion, according to the sources. The corporation intended to utilise the money for US acquisitions.

According to the sources, the business is in talks with the Sovereign Wealth Funds (SWF) of Abu Dhabi and the Qatar Investment Authority (QIA) about financing between $400 and $500 million and $250 to 350 million, respectively.

The investment will be used by the business for inorganic development, particularly in the US, the source claims. Epic, a US-based reading platform, and Tynker, a coding website, were already acquired by the company for $500 million and $200 million, respectively.

Other foreign purchases made by Byju include the Austrian math operator GeoGebdra and the Singapore-based Great Learning, both of which cost roughly $200 million.

According to information obtained, Byju’s and the US-based edtech company 2U are in active communication. 2U operates platforms like edX, which provide online courses developed by Harvard University, Massachusetts Institute of Technology (MIT), Boston University, etc.

The edtech organization was also thinking about acquiring Chegg. However, a company insider asserts that there aren’t any active conversations with Chegg.

Meanwhile, The Byju’s are still raising money, however as part of the $800 million round of fundraising announced in March at a valuation of $22 billion, Sumeru Ventures and Oxshott have not yet contributed $250 million.

Avatar

Urvi Shrivastav

→ Urvi Shrivastav

India’s External Debt Rises 8.2% YoY Multibagger Tata Stock Reaches Lifetime High For Sixth Straight Day

Related Posts

Mayank

Financial Reporting

Synergizing finance, strategy and management: The multipronged role of today’s CFO

NEC

Financial Reporting

NEC Corporation elevates India CFO Mayank Khandelwal to Head of Finance for Global Regional Headquarters and Country Affiliates

Screenshot 2023-04-18 190754

Financial Reporting

Ramesh Bafna Appointed As The New CFO Of Zepto; Succeeding Jitendra Nagpal

Selected Stories

  • MayankSynergizing finance, strategy and management: The multipronged role of today’s CFO

    Read more

  • NECNEC Corporation elevates India CFO Mayank Khandelwal to Head of Finance for Global Regional Headquarters and Country Affiliates

    Read more

  • Screenshot 2023-04-18 190754Ramesh Bafna Appointed As The New CFO Of Zepto; Succeeding Jitendra Nagpal

    Read more

  • Screenshot 2023-03-28 180755Infobip appoints Richard Kraska as Chief Financial Officer

    Read more

  • 1494568857_NoPMEQ_CFO-470CFO – From ‘Finance’ To ‘Futuristic’

    Read more

Movements

  • Screenshot 2023-03-28 180755Infobip appoints Richard Kraska as Chief Financial Officer
  • zUah2lDb_400x400Deloitte India Named Romal Shetty As CEO For Four-Year Term
  • cfo imageVishnuhari Pareek Named As Head Of Finance At Arkam Ventures
  • thumbnail_Sidharth1Siddharth Sehgal Is New CFO Of BeatO
  • Business men giving a handshake. Business conceptRamamurthy Becomes MD, CEO of BSE, SEBI approves appointment

Categories

  • Accounting
  • CFO Stance
  • Credit & Capital
  • Economic Trends
  • Featured
  • Financial Compliance
  • Financial Leadership
  • Financial Management
  • Financial Reporting
  • Financial Strategy
  • Financial Technologies
  • Global News
  • Interview
  • Movements
  • Risk Management
  • Taxation

Recent Comments

    Back To Top
    BW CFO World
    • Home
    • News
    • Videos
    • Articles
      • Credit & Capital
      • Economic Trends
      • Financial Compliance
      • Financial Leadership
      • Financial Management
      • Financial Reporting
      • Financial Strategy
      • Risk Management
      • Taxation
    • Featured
    • Nominate for Awards
    © Copyright BW BUSINESSWORLD 2018. All Rights Reserved.