Byju Raveendran

Byju’s founder says his edtech startup, once worth $22B, is now ‘worth zero’

Startups /

Byju Raveendran, the founder of the embattled edtech group Byju’s, acknowledged on Thursday afternoon that he made mistakes, mistimed the market, and that his startup, once valued at $22 billion, is now effectively worth “zero.” Speaking to a group of journalists, Raveendran said the company’s aggressive acquisition of more than two dozen startups to expand […]

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Byju’s, once valued at $22 billion, faces insolvency proceedings

Government & Policy /

An Indian tribunal court on Tuesday initiated insolvency proceedings for Byju’s, once India’s most valuable startup, in response to a petition from the country’s cricket board. The ruling effectively installs an interim resolution professional who will manage the company’s operations, pushing the startup’s founder out. The National Company Law Tribunal’s ruling (PDF) came in response

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