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- In June 2023, tech investor Prosus cut Byju's valuation by 75%, leading to layoffs and allegations of financial mismanagement. Byju's parent company, Think & Learn Pvt Ltd., faced scrutiny for not paying PF money to employees and was also suspended by Google and Facebook for non-payment of ad dues.Learn more:In June 2023, tech investor Prosus cut Byju's valuation by 75%, leading to layoffs and allegations of financial mismanagement. Byju's parent company, Think & Learn Pvt Ltd., faced scrutiny for not paying PF money to employees and was also suspended by Google and Facebook for non-payment of ad dues.www.ndtv.com/business-news/byjus-unraveled-the …Insolvency proceedings against ed-tech giant Byju's, once India's biggest startup valued at $22 billion, will likely force thousands of employees to quit and result in a total shutdown of its services, its CEO said in a court filing seen by Reuters.economictimes.indiatimes.com/tech/startups/byjus …Byju's filed its financials for 2022 in November last year, after a year-long delay due to governance issues and its auditor's resignation. Operating losses came to 24 billion Indian rupees (about $290 million) for its core online education business.www.cnbc.com/2024/03/01/the-rise-and-fall-of-byju…
What Went Wrong With Byju's, Which Was Once Valued At $22 …
Feb 6, 2024 · Byju's delayed the filing of its 2021/22 financial results by nearly a year, prompting auditor Deloitte and three board members to quit. Its chief financial officer and chief technology officer...
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Top 5 reasons for the downfall of Byju’s: From $22 …
Oct 19, 2024 · Byju's ended up getting sued by its creditors for defaulting on loan payments, which also triggered insolvency proceedings. The most prominent legal disputes are between the Board of Control for...
India’s Byju’s lost more than $20 billion in valuation — what went ...
Mar 1, 2024 · Byju's, once India's most valuable startup, has seen a sharp reversal in its fortunes after a series of setbacks, including alleged accounting irregularities and purported …
From $22 Billion to Nothing: The Catastrophic Fall of Byju’s
On October 17, 2024, Byju Raveendran, the founder of Byju’s, dropped a bombshell: the company—once valued at an eye-watering $22 billion—is now worth nothing. Byju’s, once …
Byju’s reveals $271 million loss amid deepening debt …
Nov 4, 2023 · Indian education startup Byju’s first results in years revealed that losses at its parent company narrowed only marginally amid a pandemic-era boom in business, underscoring challenges for the firm...
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Byjus Crisis: Know What Led To The Downfall Of Company …
Apr 5, 2024 · Byju's offices and tuition centers are shutting down nationwide, leaving staff without pay. Byju's is grappling with a severe shortage of funds, with investors pushing for Ravindran's …
Byju's crisis explained: Why edtech firm, once valued …
US-based investment firm Redwood cut a loan of $1.2 billion to Byju's in November 2021, but the ed-tech firm failed to make a quarterly interest payment of ₹ 330 crore. After being faced with a...
Byju's faces total shutdown if insolvency proceeds: CEO Byju …
Jul 19, 2024 · Insolvency proceedings against ed-tech giant Byju's, once India's biggest startup valued at $22 billion, will likely force thousands of employees to quit and result in a total …
Explainer: How Byju's went from startup star to facing …
Glas argues that Byju's is using the money owed to lenders to pay the cricket board. Supreme Court stayed the tribunal's order and will re-start insolvency proceedings against Byju's.
Byju’s effect wanes as edtech startups turn the page
19 hours ago · Adda247 saw its revenue jump 88% to Rs 129.65 crore while narrowing its net loss by 66% to Rs 101 crore. Edtech firm upGrad recorded a 30% year-on-year (y-o-y) growth, …
Byju's insolvency case: SC reserves judgment on plea …
Sep 26, 2024 · During the hearing, Byju’s financial troubles were a key focus, with the company reported to have suffered a loss of Rs 8,104 crore as of March 2022. The court also heard that Byju’s...
Byju’s faces new probe over financial, accounting practices
Nov 26, 2024 · India’s top court last month struck down a bankruptcy tribunal’s order that allowed Byju’s to settle debts with a key creditor, pushing the online tutor back firmly into the …
Explained | How Byju's went from being a startup star to facing …
Aug 14, 2024 · In February, a group of shareholders, including tech investor Prosus, alleged "financial mismanagement and compliance issues" at Byju's and called for the removal of …
The downfall of India's hot startup Byju's is wiping out US …
Jan 16, 2025 · Byju’s quit making interest payments and responded by accusing creditors, including Redwood Capital Management, of trying to manufacture a crisis. That lawsuit — and …
BYJU’S reports much-delayed FY22 numbers; losses widen to
Jan 23, 2024 · BYJU'S reported a consolidated loss of Rs 8,245 crore in FY22, up 80.6% from Rs 4,564 crore recorded in the earlier fiscal period. Operating revenue rose 120% to Rs 5,014.6 …
INVESTIGATION-'Loss after loss': Indian parents say Byju's …
Dec 14, 2022 · Ranjana Sharma, who said she was "defrauded" by Byju's and owed a refund of more than 60,000 rupees, said the firm got in touch after she complained on Twitter and …
Byju's goes under insolvency: What happens to employees? Can …
The parent company of troubled edtech giant Byju’s called Think and Learn Pvt Ltd was put into insolvency by the National Company Law Tribunal (NCLT) on July 16, due to a plea filed by …
Did not run away, will return to India: Byju Raveendran ... - India …
Oct 18, 2024 · The verdict on whether Byju's will undergo restructuring or liquidation is still awaited. Raveendran admitted that Byju's is in a challenging position, stating, "We are in a …
Byju Raveendran Admits Byju’s Value Is Zero - moneylife.in
Oct 21, 2024 · Byju's reported a staggering loss of Rs5,592 crore for FY21-22, up from Rs2,428 crore the previous year. The situation deteriorated further as creditors began legal …
Byju's Shuts All Offices Except HQ, Asks 14,000 Employees To …
Mar 12, 2024 · Byju Raveendran has lost the support of key investors after a series of crises, including the resignation of auditor Deloitte over corporate governance issues and the legal …
Byju’s logs in surprise fall in FY21 revenue, losses widen 20 times
Sep 14, 2022 · Byju's has now nearly missed the official deadline for FY21 by almost 12 months, and there are currently just roughly 15 days remaining for the company to file results for FY22 …
Byju’s loss in FY21 swells 13 times as ed-tech posts net loss of …
Sep 14, 2022 · Indian education provider Byju’s finally released audited financial statements after months of delay, but the disclosures are unlikely to resolve the swirl of controversy around the …
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