Edtech major Byju's is growing slowly but sustainably and is close to achieving profitability at the group level, the company's CEO Byju Raveendran said on Thursday. Ltd (Livemint)The company organised a town hall with Raveendran to allay apprehensions about the uncertainty around the company's growth and its future. "Byju shared that BYJU'S is close to achieving profitability at the group level, demonstrating the company's commitment to financial management and optimization of operations," a source said. He said that despite the challenges faced by tech companies globally, BYJU'S has made substantial progress towards this significant milestone. Prosus' 9.6 per cent stake value pegs the edtech firm's valuation at around USD 6 billion instead of USD 22 billion claimed by BYJU'S.

Source: Mint June 30, 2023 02:41 UTC