The venture capital firm, which is the second-largest institutional shareholder in the edtech unicorn, informed LPs that Ravishankar's decision to resign from the board of directors was due to BYJU's lack of openness when it came to providing investors with financial updates and information.
It is also reported that all the freshers have been fired by BYJU'S in this lay off
The report says that the delay is due to the multiple acquisitions by Byju's during the financial year and it also plans for further acquisitions in the subsequent financial year
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The fresh capital has knocked up the company's valuation by almost 45 per cent since it entered the coveted unicorn club in September after raising USD 150 million funding led by Softbank at a valuation of USD 1.45 billion.