Byju Raveendran, co-founder and CEO of edtech behemoth Byju’s, is in talks to increase his stake in the company to as much as 40% and may offer exits to some investors.
According to Bloomberg, Byju Raveendran, who owns approximately 25% of the company, is looking for funds to finance the buyback of stakes in the company by using his shares as collateral.
The last time the edtech company raised funds, it was valued at $22 billion. However, the report stated that the buyback may occur at a lower valuation, and that discussions with shareholders and financiers are still in the early stages and may fail.
According to CrunchBase, Byju’s has raised over $5.8 billion in 27 funding rounds. BYJU’s raised $250 million in a funding round from existing investors, including Qatar Investment Authority, in October of last year.
