9
Byju's CEO invokes 'Invictus', announces $200m rights issue amid controversies
source link: https://nextbigwhat.com/byjus-ceo-invokes-invictus-announces-200m-rights-issue-amid-controversies/
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
Byju’s CEO invokes ‘Invictus’, announces $200m rights issue amid controversies
- Byju Raveendran, CEO of Byju’s, has announced a $200 million rights issue to support capital expenditure and corporate objectives amid ongoing controversies.
- Once India’s most-valued startup, Byju’s has faced allegations of accounting irregularities, mis-selling of courses, and layoffs, significantly impacting its reputation and valuation.
- Despite a 118% increase in consolidated revenue in FY22, the company’s losses also surged, raising concerns about financial transparency and timeliness in reporting.
Recommend
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK