Business & Economy: India’s edtech sector has seen a dramatic shift with the downfall of Byju’s, once valued at $22 billion. While many of its acquired startups crumbled, Great Learning has emerged as a rare survivor.

How Great Learning escaped Byju’s collapse

Business & Economy: The fall of Byju’s underscores the need for stronger corporate governance and accountability in India’s startup ecosystem

Byju's: From $22 billion valuation to zero

Byju Raveendran, the founder of India’s largest edtech startup, Byju's, has addressed recent rumors surrounding his move to Dubai, clarifying that it was motivated by family health concerns rather than an attempt to flee legal or financial troubles.

Byju's Raveendran dispels Dubai relocation rumors, vows to return to India

Byju’s, once the poster child of India's booming Edtech industry, is now facing significant financial challenges. According to a recent update from the founders, the company has failed to disburse July salaries due to its bank account not being restored to the founders following a supreme court order. This adds to the growing woes of Byju’s, which says its founders infused close to one billion U.S. Dollars crore over the past 2.5 years just to keep the company operational. Byju Raveendran, the face of the troubled Ed tech platform claims he has personally contributed 1,600 crore rupees out of the 3,976 crores paid as employee salaries in the last two years. This financial burden comes after Raveendran sold stakes worth3,600 crore rupees between 2015 and 2022.

The lesson in Byju's rise & fall

India, once known for its mushrooming startup ecosystem, witnessed a negative spiral as the number of unicorns – companies valued at over USD 1 billion – declined for the first time in four years, according to a report released on Tuesday.

India witnesses drop in unicorn count, Byju's valuation plunge tops global charts

There has been a rapid decline in Byju Raveendran's net worth. it has gone from $2.1 billion a year ago to zero. Molly Gambhir tells you more.

Gravitas | Byju Raveendran's net worth drops from $2.1 billion a year ago to zero

Byju's once a shining star in the ed-tech space and an embattled firm that is in the midst of a crisis. There have been reports of salaries being delayed again there are also reports of 500 staffers being laid off. Molly Gambhir tells you more.

Gravitas | Byju's rapid fall after a meteoric rise

Troubled Ed tech giant Byju's has managed to pay a quarter, roughly 25% of its employees, their full February salaries. However, for most of its workforce, paychecks are delayed.

25% of Byju's employees receive full February salaries

Byju's CEO Byju Raveendran has written a letter to his employees, a day after shareholders of Indian edtech startup Byju's voted to oust its founder Byju Raveendran as CEO. This is the latest twist in the long-running saga, where influential investors have expressed their displeasure over the company's recurring losses and alleged mismanagement.

Byju's CEO writes to employees

Let's bring you news from India, where shareholders in Indian edtech startup Byju's have voted to oust its founder and CEO Byju Raveendran. This is the latest twist in the long-running saga, where influential investors have expressed their displeasure over the company's recurring losses.

Investors vote to oust founder Byju Raveendran

An Extraordinary General Meeting (EGM) of Byju's investors is set to take place today. A consortium of shareholders, including the global tech investor Prosus, aims to dethrone him and install a new board.

Byju's Chief under fire amid forex violations

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. Intel unveils ambitious plans to overtake TSMC with advanced chip manufacturing technologies At a technology conference in San Jose, California, Intel announced its ambitious plans to regain dominance in the semiconductor industry by surpassing its main competitor, Taiwan Semiconductor Manufacturing Co (TSMC).

WION Business Wrap | Intel’s plan to overtake TSMC, Struggles of US natural gas producers and more

In a closed-door meeting with 50 top leaders, Byju Raveendran, the founder of edtech giant Byju’s, compared the company's current challenges to a "war on multiple fronts," expressing confidence that they would emerge victorious, according to media reports.

Byju's founder rallying leadership amidst challenges, confident of victory in ongoing crisis 

A Bloomberg report showed that Byju's founder has pledged his personal homes, including family properties, as collateral to secure $12 million. The funds will be utilized to address salary concerns for the 15,000 employees of think & learn pvt., byju's parent company.

Byju's founder gambles homes to save employee paychecks

Indian edtech firm, Byju's, is set to undergo a major restructuring effort, potentially resulting in the termination of 4,000 to 5,000 jobs. This significant workforce reduction, announced by the company's new India CEO, Arjun Mohan, reflects Byju's attempts to strengthen its operations amid ongoing financial challenges, Moneycontrol reported.

Indian edtech firm Byju's announces major restructuring, plans to cut thousands of jobs 

In a bid to assuage the concerns of lenders, Indian edtech giant Byjus has proposed to pay back its whole $1.2 billion term loan in less than six months, sources familiar with the matter told Bloomberg.

Byju’s surprises lenders with a $1.2 billion repayment offer

Byju's is facing angry investors, dropping capital and empty classrooms. Investors blame poor governance and disregard for the directors' advice. Is Byju's becoming a guide for what not to do?

Gravitas: Is Byju's story a lesson for Indian start-ups? | Story of Byju Raveendran

Byju's, the troubled edtech firm, is taking steps to address its current challenges by forming a Board Advisory Committee (BAC) to provide guidance to the CEO and advise on the company's governance structure.

Byju's puts focus on governance: Independent directors to drive revamp

Indian edtech firm Byju’s and Bollywood star Shah Rukh Khan have been asked to compensate an aspirant of the Indian Administration Service (IAS) for alleged “fraudulent behaviour” and “unfair trade practice”.

India: Consumer panel takes on Byju’s and Shah Rukh Khan for “fraudulent behaviour”

Edtech unicorn BYJU'S has begun a fresh round of layoffs, putting almost 900 plus employees from various teams and functions in jeopardy, as reported by YourStory.

BYJU'S cuts more than 900 jobs across teams, senior executives asked to step down too

Byju Raveendran and Divya Gokulnath, the founders of Indian ed-tech giant BYJU's, are planning to increase their stake in the company to about 40% and have initiated talks with investors.

BYJU's founders planning to increase stake in the company to 40%: Report

India's apex child rights body the National Commission for Protection of Child Rights (NCPCR) has summoned BYJU's CEO Byju Raveendran over allegations of malpractice of "hard selling and mis-selling" its courses to students.

Ed-tech startup Byju's CEO summoned by India's apex child rights body over allegations of malpractice

Is India's Startup boom slowing down? From Byju's to Ola to Meesho, Unicorns in Indiaare on a firing spree. They're revising their growth projections & executing cost-cutting measures. Why? What went wrong? Priyanka Sharma explains on Gravitas Plus.

Gravitas Plus: Why are Indian Startups struggling?

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