Great Learning Founders Explore Buyback Amid BYJU’S Financial Struggles
Great Learning’s founders, Arjun Nair, Hari Nair, and Mohan Lakhamraju, are exploring the possibility of a management buyback from BYJU’S , which acquired the company for $600 million in 2021. This strategic move involves seeking support from investors to regain control of Great Learning, offering them equity in return. The founders aim to ensure the continued involvement of the original management team. Amid financial challenges and controversies faced by BYJU’S, including a substantial debt of $1.2 billion, the founders see an opportunity to reclaim their startup. BYJU’S plans to raise funds by selling Great Learning and another entity called “Epic” to alleviate its financial burdens. The founders are closely monitoring developments related to the Epic deal before finalizing their buyback plans. BYJU’S is navigating a challenging period with financial constraints, controversies, and a restructuring plan that involves laying off over 4,000 employees. The Great Learning founders m...