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Bengaluru-based educator-rainmaker Byju Raveendran’s flagship company received an unqualified audit report from Deloitte Haskins & Sells Llp auditor, according to Mint.
This company provides educational technology (Edu-tech) services. It includes content and tools for students in classes 4th through 12th, as well as preparation services for various competitive entrance exams such as CAT, IAS, and GRE.
What is Think & Learn Private Ltd.’s (BYJU) Share Price?
Think and Learn Private Ltd is a Bangalore-based company that manufactures and sells online education courses, such as English language learning, IT training courses, and higher education courses for college students. In addition, Think and Learn also provides teacher training services and coaching.
Over the last year, this tech giant has faced several issues that threaten its long-term profitability, such as being unable to set out a path toward it and multiple rounds of layoffs. Furthermore, its parent company, BlackRock Investments, marked down its stake in it.
As of March 2022, Byjus was valued at $22 billion and had amassed over 130 million registered users. It experienced rapid expansion through acquisitions – most notably its $1 billion purchase of test-prep provider Aakash Educational Services and $500 million investment in coding platform WhiteHat Junior.
However, recent developments suggest that some creditors to the Indian ed-tech unicorn are seeking to accelerate repayment on some debt and provide more flexible loan terms – this has caused widespread concern among investors, lenders, employees, and some shareholders of the company.
Think and Learn has also been subject to numerous regulatory concerns. For instance, the National Commission for Protection of Child Rights summoned Byju Raveendran – CEO of Think and Learn – for a court appearance regarding allegations of hard selling or misselling courses to students.
The Company has been able to meet these challenges thanks to its investors. Sumeru Ventures and Vitruvian Partners led its latest round of funding, which valued it at $22 billion. They are also working towards building an inclusive board.
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What is Think & Learn Private Ltd.’s (BYJU) Share Price Per Share?
Think & Learn Private Limited is an Indian education technology (edtech) provider. Their products include education technology and software. In addition to that, Think & Learn offers online learning courses for various competitive examinations both domestically and abroad. Established in 2011, this Bangalore, Karnataka-based firm now serves customers worldwide.
BYJU investors gathered for a video conference call this week to review its latest financial results, listen to CEO and founder-rainmaker Byju Raveendran discuss them, and confront Deloitte Haskins & Sells over an unscheduled filing that occurred later than expected. However, this meeting was marred by controversy; Byju and Deloitte Haskins & Sells auditors are at odds over late filing procedures.
The Enforcement Directorate (ED) conducted searches and seizure action at three premises in Bengaluru as part of their probe into an alleged money-laundering case involving Raveendran and Think & Learn Private Limited (BYJU). Last month, both Raveendran and Kaveri were interrogated by ED under Section 2(2) of FEMA.
Think & Learn Private Limited was established on 30 November 2011 under the Companies Act 2013. Its registered office can be found at IBC Knowledge Park 4/1, 2nd Floor Tower D Bannerghatta Main Road Bangalore Karnataka India 560034 with a share capital of Rs 100 lakh and paid up money of Rs 100 crore; currently, their status is Active.
At present, Byju Raveendran and Divya Gokulnath serve as directors. It is registered with the Registrar of Companies, Bangalore, with corporate identification number U80903KA2011PTC061427.
Byju’s shares have appreciated by nearly 20 percent this year, giving its edtech significant market capitalization of around $22 billion, an impressive increase. Unfortunately, however, Byju is grappling with cash flow problems; to address them the company has been seeking funding through equity and structured instruments from investors like Abu Dhabi’s sovereign wealth fund ADQ for $1 billion investment.
BYJU’s lenders have requested a $200 million prepayment and higher interest rates as part of an attempt to restructure its $1.2 billion debt load, potentially delaying its IPO and hampering future expansion plans.
What is Think & Learn Private Ltd.’s (BYJU) Share Price Per Share YTD?
BYJU’s mission to develop cutting-edge global learning tools lies at the intersection of technology, interactive content, and personalized learning methodologies. Since its formation as Think and Learn Private Limited in 2011 as Think and Learn India Private Limited, the company has steadily expanded into one of India’s premier edtech companies, offering services from PreK through 12 to competitive exams and beyond. Through acquisitions such as Osmo Tynker WhiteHat Jr Epic, its reach has expanded substantially.
BYJU recently raised $250 million through its latest venture capital (VC) round led by Davidson Kempner Capital Management with participation from existing investors IFC and Qatar Investment Authority. This funding round brings BYJU’s total VC funding up to $5.08 billion across 28 games.
Last year, India’s highest-value startup, Byjus, reached out to shareholders of Aakash Educational Services Ltd to offer them the final installment of their stake in the test prep firm it purchased for $1 billion in 2021. This deal included both cash and stock transactions; founders Raveendran and his wife Divya Gokulnath will continue holding minority shares of Byjus as minority owners of their new company.
As it struggles financially, Byju’s has begun reducing employees as part of a restructuring exercise. They may also consider closing WhiteHat Jr in order to reduce expenses and reach profitability.
On June 22nd, Deloitte Haskins & Sells withdrew as Byju’s statutory auditor due to delays in filing its financial results, following three of Byju’s key investors — Prosus, Peak XV Partners, and Chang Zuckerberg Initiative — leaving due to financial mismanagement concerns at Byju.
Byju’s share price may have declined since its recent controversies, yet it continues to be popular with investors. Unlisted shares can be bought through Stockify, an online stock trading platform. The company’s CIN is U80903KA2011PTC061427, and its registered office address is IBC Knowledge Park 4/1 Block I Gachibowli Hyderabad Telangana with two directors named Byju Raveendran and Divya Gokulnath who possess considerable corporate experience and are highly regarded as leaders.
What is Think & Learn Private Ltd.’s (BYJU) Share Price Per Share YTD YTD
Think & Learn Private Limited (BYJU) is an educational technology provider. We offer educational videos, online tests, subscription packages, and customer service to customers around the world. Think & Learn has raised $5.08B through 28 rounds; its most recent debt funding round occurred on May 12, 2023, with 54 investors; among these was Davidson Kempner Capital Management, as one participant in this round.
Think & Learn Private Ltd’s board members include Byju Raveendran, Prateek Lala, Amit Khansaheb, Roshan Thomas, Arjun K Perikal Naval Satarawala Chopra, and Mukul Baveja. Shardul Amarchand Mangaldas & Co LLP and Phoenix Advisers serve as legal advisers, while Ernst & Young LLP provides financial advice and tax due diligence services.
Byju’s stock has lost more than half its value over the past year due to investors being wary about ed-tech firms due to slowing growth and rising debt levels. This slump has also resulted in Byju laying off thousands of employees as it reduces expenses.
Byju’s is struggling with its valuation, forcing it to delay an initial public offering (IPO). According to recent filings with the Securities and Exchange Commission, Byju has decided not to go forward with an IPO because the current stock price is “unattractive to investors.”
Recently, this company has focused on expanding its presence in school education through strategic acquisition. Additionally, they have invested in technology products in order to enhance customer experiences and encourage user engagement. Furthermore, the company is exploring opportunities in international markets in order to broaden its footprint. Therefore, the company stands to benefit from an increasing demand for its educational content in both domestic and international markets. In the long term, it may become one of the dominant players in the global education space; this would enable it to increase revenues and profits in the future. Furthermore, new products have been introduced, and strategic partnerships have been entered into them to further their competitive position and boost revenues and profits in the future.
