Byju introspects, says Byju's worth zero now, promises a turnaround

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The worth of once most valued Indian startup is zero now, Byju Raveendran, the founder of beleaguered education technology startup Byju’s, said on Thursday as he called for rebuilding the erstwhile empire from the scratch, brick by brick.

Valued at $22 billion in 2022, Byju’s has seen its fortunes dwindle due to massive cash crunch, regulatory issues and disputes with investors, including battle with US lenders who are demanding $1 billion in unpaid dues, triggering the firm’s insolvency.

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Category: BusinessFinance

Markets: India

Topics: Byju Indian companies Byju Raveendran NCLT

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-17 @ 21:58:29 (7 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 94 words

Reading Time: 1 minutes read

Sentences: 4 lines

Sentence Length: 24 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23106408

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