Shareholders' vote to oust edtech founder Byju Raveendran caps a remarkable fall for the former billionaire whose startup was once India's most valuable.
Byjus investors are reconciled to his acquisition of 40% in Aakash, the people said, adding that the Manipal Education and Medical Group chairman has also invested an additional Rs 250 crore as working capital and to pay salaries.
Unacademy made a string of acquisitions between 2018 and 2022 and launched a series of new products. Many of these products died or have minuscule revenue. Now, the company has narrowed its focus and made a pivot. Can it succeed?