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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…The company's revenue fell 3 percent year on year to Rs 2,428 crore on a consolidated basis, down from Rs 2,704 crore the previous year, according to the FY21 results. Byju's reported a Rs 4,500 crore loss in FY21, nearly 17 times the Rs 262 crore loss in FY20 (2019-20).www.moneycontrol.com/news/business/startup/byj…
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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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 …
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...
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 crisis explained: Why edtech firm, once valued …
Feb 3, 2024 · 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...
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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 Reveals Rs 2,250 Crore Loss Amid Deepening Debt …
Nov 5, 2023 · Creditors sued Byju's this year after it breached covenants on a $1.2 billion loan. The standoff cast a spotlight on founder Byju Raveendran, whose meteoric rise from tutor to …
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 …
Downfall of Byju's, India's hot edutech startup, wipes 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 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 …
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...
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 …
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 …
Byju’s effect wanes as edtech startups turn the page
1 day 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, while …
Byju's founder faces biggest test as startup's valuation drops
As he battled crises, the CEO also said decisions to lay off some of its then-50,000 employees and slash branding expenses would help strengthen loss-making Byju's and turn its cashflow …
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 …
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 …
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’S In 2024: How The $22 Bn Company Crumbled
Dec 16, 2024 · Consolidated net loss surged 81% to INR 8,245.2 Cr in FY22 from INR 4,564.3 Cr in FY21. This staggering loss of close to $1 Bn meant that BYJU’S was worse off than many …
Byju’s insolvency: What happens to the company now, how ex …
Jul 17, 2024 · Tricky questions could surface over the 10 months as embattled edtech company Byju’s —- which was once India’s hottest startup with $22 billion valuation —- has entered the …
Byju's Financial Mysteries: What Happened to the Borrowed …
Nov 25, 2024 · Byju's founders recently declared that they had agreed to pay off the outstanding debt. A portion of the payment has already been made, and other instalments are planned for …
From billionaire to brink: Byju’s founder battles insolvency crisis …
Jul 22, 2024 · An appeals tribunal is expected to hold a hearing on Monday on whether Byju’s insolvency process should be quashed after the former billionaire argued in court his company …
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