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Byju's Valuation Plunge: What Led to the Startup's Downfall?

Byju's, once India's most valuable startup, has seen its valuation plummet by 95% to $1 billion after alleged accounting irregularities and mismanagement, leading to setbacks such as investor stake cuts and ousting of founder Byju Raveendran as CEO. The company, which experienced exponential growth during the pandemic, faced a slowdown in online learning post-pandemic, resulting in layoffs and governance issues. Byju's struggled to repay a $1.2 billion loan, filed for Chapter 11 bankruptcy, and is raising funds to clear immediate liabilities and operational costs.

1 year ago•Source: CNBC

Byju's: The Rise and Fall of India's Ed-Tech Giant

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4.02 min•1 year ago

Byju's: The Rise and Fall of India's Ed-Tech Giant

Byju's, once valued at $22 billion, has seen a sharp decline in popularity and valuation due to cash-flow problems, toxic work culture allegations, financial mismanagement, and a $1.2 billion loan default. The company's rapid expansion during the Covid pandemic led to a tumultuous fall, with its valuation being cut by 75% and facing scrutiny for non-payment of ad dues. Shareholders are seeking the ouster of the founders from top leadership roles, and the company is currently raising $200 million through a rights issue of shares to support a successful turnaround.

via NDTV

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Byju's Valuation Plunge: What Led to the Startup's Downfall?

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