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.
