Byju’s, once the crown jewel of India’s ed-tech industry with a staggering valuation of $22 billion, has hit rock bottom, according to its founder, Byju Raveendran. Speaking candidly to journalists, Raveendran admitted that the company’s net worth has plummeted to “zero.”
Byju’s rapid expansion and acquisition of over 24 startups contributed to its downfall, pushing the company into a financial crisis in 2022—the same year it planned to go public. Raveendran blamed the exit of key investors like Prosus Ventures, Peak XV, and the Chan Zuckerberg Initiative for worsening the situation, leaving the company without crucial funding.
Adding to the troubles, India’s Board of Cricket Control (BCCI) initiated insolvency proceedings after Byju’s failed to complete a $19 million sponsorship payment, leading to asset freezes and Raveendran’s suspension. 
Despite the turmoil, Raveendran remains hopeful for a comeback, acknowledging his mistakes and expressing a desire to rebuild Byju’s in the future.
