Byju's facing financial crisis as investors block funding, CEO Raveendran unable to pay workers' salaries
Byju's facing financial crisis as investors block funding, CEO Raveendran unable to pay workers' salaries
03/03/24, 3:14 AM
Location
abu dhabiMoney raised
$200 million
Byju's CEO Raveendran expressed concerns over the company's inability to pay employees' salaries due to investors blocking the funds in a separate account. The company faced a controversy regarding a rights issue aimed at raising emergency funding.
Company Info
Location
abu dhabi, abu dhabi emirate, united arab emirates
Additional Info
BYJU'S is an edtech company that provides online educational content and coaching. Founded in 2015, it achieved unicorn status by 2019. The company has rapidly grown and expanded its services globally, offering innovative learning solutions. It has a notable valuation and significant investments from various global investors.