Indian edtech startup Byju’s cash crunch is continuing and its founder Byju Raveendran has been forced to pledge his homes to pay salary to staff. Raveendran has pledged his two homes in Bengaluru as well as his under-construction villa to borrow $12 million to pay salary to 15,000 staffers of Byju’s parent firm, Think & Learn. Byju’s is also in process of selling its US-based kids’ digital learning platform for $400 million.
Byju’s founder Raveendran borrows money against his homes to pay staff salary as cash crunch continues - Times of India
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