Byju's founder Byju Raveendran says his edtech startup, valued at $22B in 2022, is effectively “worth zero”, and that he made mistakes and mistimed the market
Byju Raveendran, the founder of the embattled edtech group Byju's, acknowledged on Thursday afternoon that he made mistakes …
A look at the fall of Byju's, India's most valuable startup in 2022 at an estimated $22B, as the edtech startup faces insolvency and Indian and US lawsuits
Financial Times :
Analysis: Indian startup VC funding has dwindled, depriving India of capital needed to grow its economy, as the valuation of top companies like Byju's implodes
Byju's, Paytm falter in stark reminder of the unique risks and challenges facing the country's tech economy. X: @sankalp_sp . Forums: Hacker News X: Sankalp Phartiyal / @sankalp_sp : For a brief, shin...
Byju's says the $200M rights issue that cuts its valuation by 99% to $20M-$25M is fully subscribed; source: some of Byju's major investors are yet to take part
Manish Singh / TechCrunch :
Byju's US unit Alpha files for Chapter 11 bankruptcy in Delaware, listing liabilities between $1B and $10B and assets between $500M and $1B
A U.S. unit of Indian education technology startup Byju's has filed for Chapter 11 bankruptcy proceedings in the U.S. court of Delaware …
Sources: Byju's plans to raise more than $100M from existing investors at a less than $2B valuation, down more than 90% from $22B in October 2022
Anto Antony / Bloomberg :
Sources: Byju's founder Byju Raveendran pledged his and his family's homes as collateral to borrow ~$12M to raise ~$400M in debt to pay staff amid a cash crunch
- Founder has raised $400 million in debt to keep firm afloat — Company is also seeking to raise funds through asset sales Mastodon: @carnage4life@mas.to . LinkedIn: Anto Antony Mastodon: Dare Obasan...
Byju's files much-delayed financial results: a $270.9M operating loss and $429.18M revenue for its FY ending March 2022, missing its $1.25B revenue projection
Manish Singh / TechCrunch :
Byju's files much-delayed financial results: $270.9M operating loss and revenue of $429.18M for FY ending March 2022, missing revenue projections of $1.25B
Indian edtech giant Byju's said on Saturday that revenue of its core business, its largest, in the financial year ending March 2022 stood …
Lenders allege that Indian edtech giant Byju's hid $533M in an obscure three-year-old hedge fund that once said its main place of business was an IHOP in Miami
- New lender suit seeks to recover cash from Camshaft Capital — Hedge fund was founded just three years ago, lenders say