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Byju s Incurs Over Rs 8,000 Crore in Losses in FY22, Driven by Whitehat Jr and OSMO

Byju s Incurs Over Rs 8,000 Crore in Losses in FY22, Driven by Whitehat Jr and OSMO
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Saving edtech company Byju s: Inside the great rescue act

As the edtech company navigates its year from hell, three men are putting the guard rails around it

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Byju s in talks with 3-4 strategic buyers to sell Epic for $450 million

Byju s is in talks with three-four strategic buyers, including Joffre Capital Ltd and language learning platform Duolingo, to sell one of its key assets, US-based digital reading platform Epic, for about $400-$450 million, according to sources. With this, the beleaguered edtech firm wants to meet various commitments, including repaying its entire $1.2 billion term loan B (TLB) within six months. The binding offers of the bidders to acquire Epic are expected to come in the next few weeks after the due diligence is complete, said a person familiar with the matter.

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Edtech company Byju s plans asset sale to pay off $1 2 billion loan

Byju s, India s most-valued startup, has decided to put two of its key assets Epic and Great Learning on the block to generate $800 million-$1 billion in cash, with an aim to meet the edtech firm s various commitments, including repaying the entire $1.2 billion term loan B (TLB) within six months, according to sources. The cash-strapped company has proposed repaying $300 million of the $1.2 billion loan in the next three months, depending on whether the lenders accept Byju s amendment proposal, said the people familiar with the development. This loan repayment proposal has been submitted to the lenders and conversations are going in the right direction, said a person in the know.

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Who is Byju Raveendran founder of Edutech start-up Byju s

Know more about Byju Raveendran, founder of Edutech start-up Byju's that has changed the landscape of online education system in India.

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