Bengaluru: Byju’s, the leading learning application providers in the country, is reportedly apparently in talks with three of its board members who have resigned from their roles.
On June 22, three important board members had left from the Bengaluru-based company: GV Ravishankar, Managing Director at Peak XV Partners (formerly Sequoia Capital India), Russell Dreisenstock of Prosus (formerly Naspers), and Vivian Wu of the Chan Zuckerberg Initiative.
According to media reports, the edtech company’s leadership is attempting to persuade the three investors to reconsider their choice. While negotiations between Byju’s and the investors continue, the conclusion of their decision to stand down remains undetermined, reports added.
BYJU’s rejected speculation of three board members resigning on Thursday.
However, the investors’ collective decision to resign was motivated by a lack of communication from Byju’s founder and top management, according to media reports.
Byju’s investors have expressed concerns to the company’s leadership in recent months, mainly on audit delays and the management of lender issues.
The edtech unicorn is already dealing with the fallout from its auditor’s resignation, as well as continuing legal battles over a USD 1.2 billion term loan B (TLB).
