Byju’s, an India online education startup, is in discussions to acquire a US target and likely to bid for either Chegg or 2U, Bloomberg reports, citing people familiar with the matter.
The Indian edtech startup has also held talks with multiple SPACs about a possible U.S. listing.
The Bangalore-based company has held talks with both Santa Clara, California-based Chegg and Lanham, Maryland-based 2U and the total value of a deal could be about $2 billion, said the people, who asked not to be named because of the sensitive nature of the negotiations. Chegg’s market value was $2.3 billion as of Friday’s close, while 2U had a market value of $756 million and more than $1 billion in debt and other liabilities. Read more.
