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Byju’s clears $230 million payment to Blackstone for $1 billion Aakash deal

TechCrunch LogoTechCrunch6d ago

Byju’s clears $230 million payment to Blackstone for $1 billion Aakash deal - TechCrunch

Quick Summary:

Byju’s has cleared all its dues to Blackstone by paying $234 million it owed the global investment giant for the $1 billion acquisition of Aakash, a source familiar with the matter told TechCrunch, addressing one of the criticisms levelled against the Indian edtech giant in recent months.

It has also made a bid to acquire publicly listed edtech firm 2U, Raveendran confirmed in the earlier interview.

Between April and July, the startup logged revenue of $570 million, it said.


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Article Details

Author / Journalist: Manish Singh

Category: Technology

Topics: Byju's Venture TC Blackstone Edtech Asia Aakash India Byju Raveendran Startups

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-09-23, 18:18:35

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Reading Time: 3 minutes read

Article Length: 406 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 498557

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Official Website: techcrunch.com

Update Frequency: 38 posts per day

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News Last Updated: 8h ago

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