{"id":1655347,"date":"2022-09-23T15:07:07","date_gmt":"2022-09-23T19:07:07","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1655347"},"modified":"2022-09-23T15:07:33","modified_gmt":"2022-09-23T19:07:33","slug":"byjus-pays-234-million-to-blackstone-related-to-aakash-deal-source-2","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/byjus-pays-234-million-to-blackstone-related-to-aakash-deal-source-2\/","title":{"rendered":"Byju\u2019s pays $234 million to Blackstone related to Aakash deal \u2013 source"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbyjus-pays-234-million-to-blackstone-related-to-aakash-deal-source-2%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1655347&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Yuvraj Malik<\/p>\n<p>(Reuters) \u2013     India\u2019s Byju\u2019s has paid 19 billion rupees ($234 million) to Blackstone Inc, settling its dues owed to the private-equity firm as part of a $950 million deal to buy Aakash Educational, a source directly involved with the deal said on Friday.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>The payment made on Thursday was for a stake of about 38% owned by Blackstone in the learning center chain that Byju\u2019s acquired in April 2021.<\/p>\n<p>While closing the deal, Byju\u2019s had paid all of Aakash\u2019s shareholders, except Blackstone as the PE firm had agreed on deferred payment, the source said.<\/p>\n<p>Blackstone did not immediately respond to a request for comment. <\/p>\n<p>The settlement of dues comes against the backdrop of surging losses at India\u2019s popular edu-tech startup, which was last valued at $22 billion.<\/p>\n<p>Tiger Global-backed Byju\u2019s losses ballooned to 45.64 billion rupees ($574.06 million) for the fiscal year ended March 2021, while its revenue fell 3%.<\/p>\n<p>The company was a big beneficiary of a spurt in demand for online learning during the pandemic and attracted investments from some of the biggest venture capital funds and financiers, including Sequoia Capital and Mark Zuckerberg\u2019s Chan-Zuckerberg Initiative, to fund its breakneck pace of growth. <\/p>\n<p>Byju\u2019s, which became one of the symbols of India\u2019s startup success, has spent a combined $2.5 billion in fiscal year ended March 2022 to acquire companies such as Aakash, U.S.-based Epic, kids\u2019 coding platform Tynker, professional education firm Great Learning and exam perpetration platform Toppr.<\/p>\n<p>($1 = 81.1660 Indian rupees)<\/p>\n<p> (Reporting by Yuvraj Malik in Bengaluru; Editing by Anil D\u2019Silva)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/byjus-pays-234-million\/attachment\/file-photo-signage-is-seen-outside-the-blackstone-group-headquarters\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8M0V1-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8M0V1-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Yuvraj Malik (Reuters) \u2013 India\u2019s Byju\u2019s has paid 19 billion rupees ($234 million) to Blackstone Inc, settling its dues owed to the private-equity firm as part of a $950<\/p>\n","protected":false},"author":66,"featured_media":1889173,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1655347","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_finder_url":"https:\/\/www.oann.com\/business\/byjus-pays-234-million\/?utm_source=rss&utm_medium=rss&utm_campaign=byjus-pays-234-million","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1655347","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1655347"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1655347\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1889173"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1655347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1655347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1655347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}