The online education provider Byju’s, India’s most valuable startup, is in advanced discussions to go public through a merger with one of Churchill Capital’s SPACs, Bloomberg reports.
The startup held talks with several potential SPAC partners and is farthest along in working out an agreement with Michael Klein’s Churchill Capital. Churchill Capital VII raised more than $1.3 billion in an offering in February.
Under the preliminary terms discussed, Byju’s would raise a total of about $4 billion and seek a valuation of about $48 billion. The startup was valued at $21 billion, according to market research firm CB Insights. Read more.
