M
Manish Singh
Guest
Indian edtech giant Byju’s, the nation’s most valuable startup, is in talks to go public in the U.S. by merging with a blank check company led by Churchill Capital, a person familiar with the matter said.
Byju’s, currently valued at about 45 billion and looking to raise as much as surpassing Singapore’s Grab.
The talks haven’t been finalized yet and the terms may still change, the person cautioned. Bloomberg News first reported about the talks.
TechCrunch reported in August that Byju’s had started engaging with bankers to explore listing options. Several bankers offered Byju’s a valuation of \)"> 40 billion to 6 billion in mid-2019, has expanded to the U.S. and several international markets in recent years and made a series of acquisitions to fuel the inorganic growth. This year itself it has spent 1.3 billion in the ongoing financial year, it has said.
The startup’s unusually aggressive quest for growth has also attracted serious criticism. The Rest of the World and many media outlets have reported that the startup’s salespeople mislead parents — many of whom can’t afford to buy the startup’s products — into getting their kids to join Byju’s subscription. The startup has previously also used intimidation tactics to silence its critics.
Byju’s, currently valued at about
The startup’s unusually aggressive quest for growth has also attracted serious criticism. The Rest of the World and many media outlets have reported that the startup’s salespeople mislead parents — many of whom can’t afford to buy the startup’s products — into getting their kids to join Byju’s subscription. The startup has previously also used intimidation tactics to silence its critics.