Byju Raveendran, the founder of the world's most valuable edtech startup Byju's, is in financing talks to lift his stake in the company to as high as 40%, people familiar with the matter said.
The former teacher is seeking funding to finance the stake repurchases which could amount to as much as 15% of the firm by using his shares as collateral, according to the people.
Byju's was valued at $22 billion the last time it raised funds, though the buyback may happen at a lower valuation, the people said, asking not to be named discussing private negotiations.
Founded in 2015 and formally known as Think & Learn Pvt., the Bengaluru-headquartered startup shelved plans for a stock-market debut as global markets slumped last year.
Raveendran has about a 25% stake and prominent other investors include the Chan Zuckerberg Initiative, Sequoia Capital India, Blackrock Inc. and Silver Lake.
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