Source: Byju’s has paid ~$234M to Blackstone for ~38% shares in Aakash, settling all its dues owed to the PE firm as part of a ~$1B deal from April 2021 (Manish Singh/TechCrunch)

Manish Singh / TechCrunch:
Byju’s has missed its own deadlines to file audited financials for the year ending March 2021 by nearly 18 months; Indian government demands an explanation  —  It took Byju’s 10 years to become India’s most valuable startup, expanding its empire of online learning apps to many markets including …

Moneycontrol:
Prosus valued its 9.67% stake in Byju’s at $578M at the end of Q3 2022, implying Byju’s total value to be $5.9B; Byju’s was valued at $22B in October 2022  —  Although Prosus’ accounting entry implies that it values Byju’s at $5.9 billion, experts say that different shareholders may value a private company differently in their books.

Manish Singh / TechCrunch:
Byju’s raised $250M in new funding as the market downturn delays its IPO; a source says the valuation was $22B, the same as when it raised $800M in March 2022  —  Byju’s said it has raised $250 million in new funding from existing backers as the Indian edtech giant looks to navigate …

Manish Singh / TechCrunch:
Indian edtech giant Byju’s plans to lay off 5% of its workforce, or around 2,500 people, in a bid to achieve profitability by 2023  —  Indian edtech giant Byju’s said on Wednesday it has eliminated 5% of its workforce, or about 2,500 roles, across multiple departments as it looks to improve …

Reuters:
Blackstone to acquire a 52% stake in R Systems, a publicly traded Indian IT services company, for $359M  —  U.S. investment fund Blackstone Inc (BX.N) said on Thursday it would buy a 52% stake in India’s R Systems International (RSYS.NS) from the IT services company’s promoters for $359 million.

Pradip K. Saha / The Morning Context:
Sources: Byju’s plans to layoff about 12,000 people, or nearly 25% of its workforce, over the next year; Byju’s denies the number of job cuts is more than 2,500  —  Byju’s, India’s largest education technology company, with a valuation north of $22 billion, plans to lay off about 12,000 people …