Edtech Start-Up Byju

Edtech Startup Byju Delays Payments on $ 1 Billion Transactions: Report

Byju’s, an online education provider and India’s most valuable start-up, has clearly delayed payments for the $ 1 billion acquisition last year, news agency Bloomberg said in a development-savvy source. I quoted and reported it.

Blackstone Inc. and other shareholders of test preparation provider Akash Educational Services were expected to pay in cash this week, partly in Byju’s stock, but Byju sought an extension of two months, the report added. I did.

He also said that some sellers received partial payments in 2021.

Blackstone, which owned 38% of Aakash, chose to postpone payments until this year, the report further states.

A Byju spokeswoman said the acquisition process was “completely well underway and all payments are expected to be completed by the agreed date, August 2022.”