"Most Valued" Start-Up Now In Constant Trouble: What's Going Wrong With Byju's?
Over the last year, EdTech firm Byju's has seen searches by the Enforcement Directorate, valuation cuts by prominent investors, a legal battle with lenders over repayment terms, layoffs, delayed financial results, the group's IPO and funding stuck in limbo, it was full of troubles. The company's valuation too has come down from 22 billion dollars in its golden days to half of that of around 11 billion dollars now in the latest round. On the consumer side, parents of several students who signed up for Byju's services are facing issues with the teaching staff, their teaching method and efficiency, and fee refunds as well. According to a survey by LocalCircles, over the last year, 32 per cent of users have faced issues with Byju's.
