SadiqKacak
2021-12-16
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Mark Zuckerberg-Backed Indian EdTech Unicorn In Talks To Go Public In US Via SPAC Merger: Report
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Bloomberg noted. Churchill Capital is also the SPAC partner of California-based luxury electric vehicle maker <b>Lucid Group Inc.</b>, which merged with <b>Churchill Capital Corp IV</b> to go public.</p>\n<p>Byju’s had reportedly discussed a SPAC merger earlier with <b>Michael Dell’s</b> MSD Acquisition Corp. and Altimeter Capital Management.</p>\n<p><b>Why It Matters:</b>Byju’s is the thirteenth most valuable startup in the world with a valuation of $21 billion, as per market research firm <b>CB Insight’s</b> unicorn tracker.</p>\n<p>Byju’s was founded by a teacher named <b>Byju Raveendran</b> in 2011. The company, which provides K-12 educational material in the form of animation videos and games, says it has 115 million students on its learning platform and seven million annual paid subscriptions.</p>\n<p>Prominent investors in Byju’s include <b>Meta Platforms Inc</b>. founder <b>Mark Zuckerberg’s</b> Chan-Zuckerberg Initiative,<b>Tiger Global Management</b> and private equity giant <b>Silver Lake Management</b>.</p>\n<p>India’s EdTech sector received a shot in the arm after the COVID-19 pandemic pushed up the demand for online classes.</p>\n<p>Earlier this month, Byju’s announced its acquisition of Austria-based <b>GeoGebra,</b> making it the EdTech company’s tenth acquisition this year.</p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Mark Zuckerberg-Backed Indian EdTech Unicorn In Talks To Go Public In US Via SPAC Merger: Report</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMark Zuckerberg-Backed Indian EdTech Unicorn In Talks To Go Public In US Via SPAC Merger: Report\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-16 19:31 GMT+8 <a href=https://www.benzinga.com/news/21/12/24638562/mark-zuckerberg-backed-indian-edtech-unicorn-in-talks-to-go-public-in-us-via-spac-merger-report><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>India’s biggest online education firm Byju’s is in advanced talks to go public through a merger with one of Churchill Capital’s special purpose acquisition companies, BloombergreportedThursday, citing...</p>\n\n<a href=\"https://www.benzinga.com/news/21/12/24638562/mark-zuckerberg-backed-indian-edtech-unicorn-in-talks-to-go-public-in-us-via-spac-merger-report\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.benzinga.com/news/21/12/24638562/mark-zuckerberg-backed-indian-edtech-unicorn-in-talks-to-go-public-in-us-via-spac-merger-report","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1130764045","content_text":"India’s biggest online education firm Byju’s is in advanced talks to go public through a merger with one of Churchill Capital’s special purpose acquisition companies, BloombergreportedThursday, citing people familiar with the matter.\nWhat Happened: Byju’s would raise a total of about $4 billion and seek a valuation of about $48 billion based on the preliminary terms discussed, as per the report.\nThe negotiations with investor Michael Klein’s Churchill Capital are not final and an announcement could be made in January. Bloomberg noted. Churchill Capital is also the SPAC partner of California-based luxury electric vehicle maker Lucid Group Inc., which merged with Churchill Capital Corp IV to go public.\nByju’s had reportedly discussed a SPAC merger earlier with Michael Dell’s MSD Acquisition Corp. and Altimeter Capital Management.\nWhy It Matters:Byju’s is the thirteenth most valuable startup in the world with a valuation of $21 billion, as per market research firm CB Insight’s unicorn tracker.\nByju’s was founded by a teacher named Byju Raveendran in 2011. The company, which provides K-12 educational material in the form of animation videos and games, says it has 115 million students on its learning platform and seven million annual paid subscriptions.\nProminent investors in Byju’s include Meta Platforms Inc. founder Mark Zuckerberg’s Chan-Zuckerberg Initiative,Tiger Global Management and private equity giant Silver Lake Management.\nIndia’s EdTech sector received a shot in the arm after the COVID-19 pandemic pushed up the demand for online classes.\nEarlier this month, Byju’s announced its acquisition of Austria-based GeoGebra, making it the EdTech company’s tenth acquisition this year.","news_type":1},"isVote":1,"tweetType":1,"viewCount":965,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":3,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/690882044"}
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