Byju’s In Talks To Acquire US Edtech Firm Chegg Valued At $2 Billion

Edtech unicorn Byju’s has held talks to acquire California-based on-line tutoring firm Chegg, individuals in the know of the talks mentioned.

Byju Raveendran, the corporate’s founder didn’t affirm discussions to purchase Chegg, which was based by Osman Rashid and Aayush Phumbhra in 2005 and has a present market capitalisation of $2.2 billion.

However, Raveendran mentioned the subsequent twelve months would be the finest time to acquire firms. This is an effective time to consolidate as firms can be found at valuations which are engaging, he mentioned.

Byju has additionally been pursuing a public itemizing in the US by a particular goal acquisition firm (SPAC), which is an organization based for the aim of buying or merging with one other firm. According to individuals acquainted with the matter, if it buys Chegg, a publicly traded firm in the US, it could additionally assist the edtech firm go public.