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Byju’s founder floats share offer to make peace with estranged investors
Byju Raveendran, the founder of embattling edtech group Byju's, has made a last-ditch attempt to placate the Indian startup's disgruntled investors, Byju Raveendran, the founder of Byju's, has made a last-ditch attempt to placate the Indian startup's disgruntled investors.
In an email to shareholders Friday morning, a copy of which TechCrunch has reviewed, Raveendran said the startup’s board is considering to make the investors an offer to claim the renounced shares in a way that prevents dilution to their existing Byju’s holdings. Prosus Ventures, Peak XV Partners and Chan Zuckerberg Initiative are among the investors who didn’t participate in Byju’s recent $200 million rights issue. The investors have instead sought, using legal means, to remove Raveendran and his family from the startup and to invalidate the rights issue.
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