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Angel Investor (Individual)

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Investments

11

Portfolio Exits

3

About Aayush Phumbhra

Aayush Phumbhra is Co-Founder and Senior Vice President of Chegg, where he is involved in the key strategic decisions with the current and future direction of the company. He leads logistics and infrastructure deployment and is largely responsible for scaling Chegg's supply chain to keep pace with its torrid growth. Inspired by his personal experience and frustration with his own university's bookstore, Aayush believes in the mission of Chegg: to enable college students to save a significant amount of money by letting them rent textbooks rather than buy them. Prior to the founding of Chegg, Aayush was an analyst at Wells Fargo Home Mortgage and a management and technology consultant at BearingPoint. Aayush holds a master of business administration in marketing and accounting from Iowa State University. Before moving to the United States in 2001, Aayush launched two companies, one of which introduced peanut butter and chocolate spreads to his native country, India.

Headquarters Location

Santa Clara, California,

United States

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Latest Aayush Phumbhra News

Byju in discussions to buy Chegg, a $2 billion listed US edtech company

May 17, 2022

Unicorn in edtech According to persons familiar with the discussions, Byju’s is in talks to buy Chegg, an online teaching startup located in California. According to sources, Byju Raveendran, the company’s founder and CEO, has not confirmed talks to purchase Chegg, which was started in 2005 by Osman Rashid and Aayush Phumbhra and has a market capitalization of $2.2 billion. Raveendran, on the other hand, believes that the next twelve months will be ideal for acquiring businesses. “We have made large, multi-hundred-million-dollar, acquisitions. Globally, we would have made four out of the top ten edtech acquisitions,” he said. “We are looking at large multi-billion-dollar acquisitions … that’s why we are accessing all kinds of capital. We are exploring acquisitions in the US.” He believes that now is an excellent moment to consolidate since firms are accessible at competitive valuations. Byju has also been seeking a public listing in the United States through a special purpose acquisition company (SPAC), which is a corporation formed for the purpose of acquiring or merging with another corporation. According to sources familiar with the situation, if it acquires Chegg, a publicly listed company in the United States, it may also assist the edtech firm in going public.

Aayush Phumbhra Investments

11 Investments

Aayush Phumbhra has made 11 investments. Their latest investment was in TravClan as part of their Seed on April 4, 2022.

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Aayush Phumbhra Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

4/28/2022

Seed

TravClan

$4.7M

Yes

3

3/10/2015

Seed VC - III

Do

$2M

Yes

2

2/6/2014

Series A - II

Apartment List

$6M

Yes

2

5/8/2013

Series A

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$99M

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10

10/22/2012

Seed VC

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$99M

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0

Date

4/28/2022

3/10/2015

2/6/2014

5/8/2013

10/22/2012

Round

Seed

Seed VC - III

Series A - II

Series A

Seed VC

Company

TravClan

Do

Apartment List

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Amount

$4.7M

$2M

$6M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

3

2

2

10

0

Aayush Phumbhra Portfolio Exits

3 Portfolio Exits

Aayush Phumbhra has 3 portfolio exits. Their latest portfolio exit was Clever on May 06, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

5/6/2021

Acquired

$99M

11

3/8/2017

Acquired

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$99M

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10

3/4/2015

Acquired

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$99M

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10

Date

5/6/2021

3/8/2017

3/4/2015

Exit

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

Acquirer

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Sources

11

10

10

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