Byju’s is set to go down as the most spectacular corporate flameout. Little more than a year ago, India boasted five decacorns, an elite group of only 47 start-ups around the world valued at US$10bn (billion). Of these, the most valuable Indian decacorn was Byju’s.
Makerspaces enables kids in low resource settings break away from rote learning thehindu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindu.com Daily Mail and Mail on Sunday newspapers.
Since the ED has not filed any direct allegation against the company, shareholders may not be immediately worried. “But the fact that founder and CEO Byju Raveendran is evasive is worrying. That raises questions. Is he hiding something? This might be concerning them,” said an investor
According to industry estimates, 45% of the 15,000+ layoffs that the start-up ecosystem has seen this year is being attributed to the Edtech industry, according to Peoplematters, a leading Human Resource website.