Billionaire Yuri Milner Nears Funding in Indian Startup Byju’s
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DST Global, the investment company headed by billionaire Yuri Milner, is on the brink of investing the maximum amount as $400 million in Indian online education startup Byju’s, consistent with an individual conversant in the negotiations.
The deal values Byju’s at $10.5 billion and will be signed as early as this weekend, said the person, who didn’t want to be identified because the talks are private. The amount would make Byju’s India’s second-most valuable startup after Alibaba Group Holding-backed financial payments brand, Paytm.
Byju’s was founded by Byju Raveendran, a former teacher, and son of educators, who conceived the smartphone app in 2011.
Suprotik Sinha is the Content Writer with Synkrama Technologies. He writes about technologies and startups in the global enterprise space. An animal lover, Suprotik, is a postgraduate from Symbiosis Institute of Mass Communication (SIMC) Pune. He carries 6+ years of experience in Content Writing, and he also worked in mainstream broadcast media, where he worked as a Journalist with Ibn7 ( now known as News18 India) and Zee Media in Mumbai.