MUMBAI: Byju's, an educational technology platform founded by Malayali entrepreneur Byju Raveendran is facing financial challenges. Reports indicate that the companies it acquired during its prosperous years are being sold to repay loans obtained from the United States. Byju's borrowed Rs 9,956 crore from the United States and to meet this obligation, it is reportedly selling two foreign companies it acquired for Rs 8,195 crore.

The companies being sold by Byju's are Epic and Great Learning. In November 2021, Byju's secured a loan of 1.2 billion dollar from a group of foreign investors which must be repaid within six months. Given this situation foreign subsidiaries are being put up for sale.

Byju's App was once one of the most highly valued startup companies in the country with a reported market capitalization of 2.2 billion dollar (roughly Rs 1.80 lakh crore). Prominent global investors such as Tiger Global, Sequoia Capital, General Atlantic, Prosus, BlackRock and Tencent have invested in Byju's startup.

Renowned football star Lionel Messi has signed on as the global brand ambassador for Byju's. Byju's app was also the official sponsor of the previous Qatar World Cup football tournament.