Byju’s said to be in talks to list in U.S. via a SPAC
The Hindu
Deal could value edtech firm at $48 billion
Tiger Global-backed Byju’s is in talks for a U.S. listing through a deal with veteran dealmaker Michael Klein’s blank-check firm that could value the Indian edtech firm at $48 billion, a source told Reuters on Thursday.
Byju’s, which offers online education and caters to all age groups, has benefited from a boom in online education as schools and in-person classes were forced shut by the COVID-19 pandemic.
Discussions with Churchill Capital’s special purpose acquisition company (SPAC) about the deal, that could happen in mid-2022, are in advanced stages with plans to raise about $4 billion, the source added.
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