Byju's offered to buy 2U in a cash deal at over 1 billion dollars. Currently Byju's has made an offer to buy the shares of 2U at Rs.15 per share, but they still haven't disclosed it officially. The offer represents a 61 per cent premium to 2U's closing price of 9.30 dollars on Nasdaq (American Stock Exchange) on 23 July 2022. Byju's is one of the world's most successful start-ups with backing from Tiger Global Management and Mark Zuckerberg's Chan Zuckerberg, and its expanding globally through acquisitions.
2U is an American educational technology company that contracts with non-profit colleges, universities to build, deliver and support online degree and non-online degree program. 2U has a current market value of 717 million dollars and about 1 billion dollars debt and other liabilities. The shares of 2U have declined more than 80% in the early 2021. Some of the major acquisitions by Byju's are US based educational gaming company Osmo in 2019 for 120 million dollars, Whitehat Jr which teaches coding for children in 2020 for 300 million dollars, Aakash educational services in 2021 for 1 billion dollars, US based digital reading platform Epic for 500 million dollars, Great learning in2021 for 600 million dollars and Gradeup which is India's largest online exam preparation platform in September 2021. According to studies, Byju's is India's most valuable start-up with a valuation of 22 billion dollars.
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