Byju's crisis: An arbitrator, appointed under Singapore International Arbitration Centre rules, has ordered Byju’s not to dispose of 4 million shares of Aakash, which amounted to a 6 per cent stake as per the loan agreement.
Byju's, once among the world's most valuable startups, faced many challenges with venture capital funding and the demand for online learning becoming scarce in a post-Covid world.
It is worth noting that this would not be the first restructuring exercise at BYJU'S. Earlier this year, the edtech laid off about 1,000 employees. Late last year, the company let go of 2,500 employees.