Friday, April 19, 2024
Outlook.com
Outlook India
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Arjun Mohan

After major investors Blackrock and Prosus cut the valuation of the edtech firm to $1 billion and $3 billion, respectively, the latest rights issue pegs the pre-money valuation at a meagre $25 million, slumping more than 99% from its peak valuation of $22...

Arjun Mohan will replace Mrinal Mohit who will be leaving the company after nearly 10 years of association

Byju's declined to comment on the development

The development came at a time when upGrad is trying to take cost-cutting measures to keep its business on a profitability track