A group of large investors in Byju’s has called for an extraordinary general meeting where they seek to change the leadership at Byju’s days after the edtech group launched a rights issue at $25 million pre-money valuation. The consortium o…
Byju’s said on Wednesday that recent accusations by India’s crime-fighting agency regarding a breach of the nation’s foreign exchange rule are “solely technical” in nature and the startup anticipates that any resultant pen…
Prosus has marked down the valuation of Byju’s, India’s most valuable startup, to below $3 billion, the investment giant’s executives said on an earnings call Wednesday even as they asserted that they remain bullish on the opportuniti…
Developer community site Stack Overflow has laid off 28% of its staff, the Prosus-owned company announced Monday. In a blog post, Stack Overflow’s CEO, Prashanth Chandrasekar indicated that the company is focusing on its path to profitability. Wh…
Bob van Dijk, the chief executive of Naspers and Prosus, has stepped down from his position effective immediately in a surprising move at the firms that own and are major backers of several large software businesses and startups globally. Ervin Tu, pre…
Indian online pharmacy startup PharmEasy has informed its existing investors that it plans to raise a new round of funding via rights issue at a 90% markdown from the previous valuation, a person familiar with the matter said. PharmEasy, which earlier deferred a plan to go public, is racing to raise the new capital to…
Prosus, the largest non-founder shareholder in Byju’s, has drastically slashed the worth of its stake in the edtech giant, implying a starkly diminished valuation of $5.1 billion to the Indian startup. Prosus disclosed on Tuesday that it had downsized the value of its 9.6% stake in Byju’s to around $493 million in the financial year…
Prosus and Peak XV Partners confirmed Friday evening that their representatives have resigned from the board of Byju’s, India’s most valuable startup, that is also reeling from the departure of its auditor Deloitte this week. The board members’ resignations — which Byju’s vehemently denied on Thursday — came shortly after global auditing giant Deloitte told…
Prosus is actively engaging with multiple players to explore sale of classified business Olx’s Autos unit in several markets including India and Indonesia, according to a source familiar with the matter. In a statement, the technology investor said pursuit of a global growth strategy for Olx’s automotive business “is no longer the right approach for…
Finrtech Kissht and PayU’s LazyPay are among the apps that India’s IT Ministry has blocked in the ongoing crackdown as New Delhi moves to curb the misuse of consumers’ data and protect the nation’s integrity. The LazyPay website has been blocked by several internet service providers in the country. A message on the Prosus-owned website…
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