Byju Raveendran, the co-founder & CEO of edtech giant Byju’s, is in talks to raise his stake in the company to as high as 40% and may also offer exits to some investors.
According to a Bloomberg report, Byju Raveendran, who currently has approximately 25% stake in the company, is seeking funds to finance the buyback of stakes in the company by using his shares as collateral.
The edtech firm was valued at $22 billion the last time it raised funds. However, the report noted that the buyback may happen at a lower valuation, adding that discussions with shareholders and financiers are still in the early stages and may fall apart.
According to CrunchBase, Byju’s has raised over $5.8 billion in a total of 27 funding rounds. In October last year, BYJU’S raised $250 million in a funding round from its existing investors, including Qatar Investment Authority.
Source @Indianstartupnews
