Byju’s delays payments for $1 billion Aakash acquisition
Online education provider Byju’s, India’s most valuable startup, is pushing back payments for an approximately $1 billion acquisition struck last year, according to people familiar with the matter. The acquisition process is “fully on track and all payments are expected to be completed by the agreed upon date i.e. August 2022," a Byju’s spokeswoman said. Blackstone didn’t respond to an email seeking comment and an Aakash representative declined to comment. The Morning Context reported earlier that the deal’s payments had been postponed. Byju’s, one of the world’s most valuable startups with backing from Tiger Global Management and Mark Zuckerberg’s Chan Zuckerberg Initiative, has expanded its business globally through acquisitions. But the tech investing climate has changed radically in recent months as company valuations have plummeted, and the number of startup deals and total funding raised dropping to its lowest level since late 2020. Byju’s asked to push back the Aak...