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, regaining independence and returning to profitability.

How great learning escaped Byju’s collapse

India’s federal government has launched a fresh investigation into the finances of Byju’s, the struggling EdTech giant, over allegations of financial misreporting and fund diversion. According to Bloomberg, the registrar of companies in Hyderabad has been tasked with probing discrepancies in Byju’s financial statements and determining whether funds were siphoned off. Watch in for more details!

India Launches Probe Into Byju's Financial Practices: Report

The supreme court of India has dealt a significant blow to Byju’s by reversing a tribunal order that allowed the firm to settle its debts with a creditor. This ruling pushes Byju’s back into the insolvency process, raising serious concerns about its future.

Byju’s Faces Setback as Tribunal’s Debt Resolution Rejected

Byju's recent loss of control over its U.S. Subsidiary, Byju’s Alpha Inc., Following a Delaware court ruling on its $1.2 billion term loan default, marks a significant turning point for the EdTech giant and the broader industry in India.

Byju's Faces Setback In U.S. Subsidiary Loss

In more trouble for India's Ed-tech startup firm, Byju's auditor resigns amid bankruptcy proceedings. Auditor BDO quits troubled education tech startup, making it the second accounting firm to do so since mid-2023.

Byju's auditor, BDO, quits amid bankruptcy proceedings | World Business Watch

India appeared to be the next great market for tech firms. However, at the moment, top firms in the nation are fighting for survival, and investors are turning a blind eye to the next generation of entrepreneurs.

Byju's & Paytm's troubles weigh on tech future

Prosus, a major Dutch investment firm, has written off its 9.6% stake in Indian ed-tech giant BYJU’s, recording a fair value loss of 493 million dollars. This write-off comes after Prosus invested $500 million in BYJU’s, marking one of the largest bets in India’s ed-tech sector.

Prosus records $493 mn loss on BYJU’s investment

Byju's India CEO, Arjun Mohan, has announced his resignation after seven months in the role. This move follows a thorough operational and cost review initiated by Mohan himself. Mohan, who previously led ed-tech startup Upgrad, had joined Byju's to oversee its international business before being appointed as India CEO. The sudden resignation comes amid ongoing struggles, including difficulty meeting salary deadlines and a standoff with shareholders.

Byju's India CEO Arjun Mohan steps down amid operational review

India's startup ecosystem is experiencing a slowdown. For the first time in four years, the country minted fewer unicorns in 2023 compared to the previous year, bringing the total to 67. This comes despite maintaining its position as the world's third-largest hub for unicorns.

Byju's reports biggest decline globally after $22 bn valuation drop

Forbes world’s billionaires list: Byju Raveendran no longer a billionaire, now has $0 net worth

Byju’s fires over 500 staffers over phone calls after reported delayed salaries

Embattled Indian ed-tech firm Byju's gets a legal reprieve. India's company law tribunal has reserved its verdict on an interim plea by a group of investors against Byju Raveendran and other promoters.

Byju's  $200 million rights issue to go ahead after legal reprieve

WATCH | Indian family frustrated with Byju's refund process removes TV from their office

WION Business Wrap | Capital One’s all-stock deal, Paytm to operate QR Codes and Soundbox, and more

Troubled edtech giant Byju’s has laid off nearly 600 employees from its content and marketing teams. Meanwhile, Byju’s lenders win the battle over $1.2 billion term loan.

Byju’s slashes 600 jobs

In a strategic move to ease financial pressures, Indian ed-tech giant Byju's is in advanced talks to sell its US-based kids' digital reading platform, epic! creations, for approximately $400 million. this comes as part of Byju's plan to streamline its business operations and address financial challenges.

India’s Byju's in talks to sell epic! creations | World Business Watch

After a year-long delay due to governance issues, indian education startup byju said that losses at its parent company narrowed only marginally amid a pandemic-era economic boom. That highlights the firm's issues with creditors over a 1.2 billion dollar debt. Bengaluru-based online teaching service think & learn reported an operational loss of 271 million dollars in 2021-2022, down 6% from 292 million dollars a year earlier.

Byju's reports operational loss of $271 million in 2021-22

Byju's is set to undergo a significant transformation. The company, valued at 22 billion dollars just last year, is gearing up for a restructuring plan. New leadership, in the form of India CEO Arjun Mohan, is driving this change by consolidating various business verticals.

Byju's restructuring plan unveiled | World Business Watch

Indian edtech titan BYJU'Ssubmitted a surprising repayment plan to lenders in which it offers to repay its full $1.2 billion term loan in less than six months.

Private equity groups join BYJU'S to tackle $1.2 bn debt crisis

The law seems to be catching up with the Indian ed-tech giant by juice the Indian government has ordered a probe into its account books.

Mounting troubles for BYJU's as it comes under government scanner

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

Indian ed-tech Byju's, lenders start talks to restructure $1.2 billion term loan

Dutch-listed technology investor Prosus NV has slashed the valuation of troubled Indian ed-tech startup Byju's to $5.1 billion according to its annual report, a fall of more than 75% from the startup's $22 billion valuation last year.

Prosus slashes India's Byju's valuation to $5 billion

Indian Ed Tech Giant BYJU's continues to struggle with several legal battles. Former employees have accused the company of not depositing their provident fund amount. According to a media report, most employees have not been paid their Provident fund money for the current fiscal year the profit in front of many employees was credited after a huge delay.

BYJU's tense legal battle: Management vs employees

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