Byju’s controversies: The troubles hurting India’s biggest edtech company

Byju’s, once India’s most successful edtech startup, is in financial crisis. Its US entity has filed for bankruptcy proceedings. The shareholders with around 30% stakes in the company want changes in the management structure for which they might approach the National Company Law Tribunal (NCLT). Byju’s is struggling to pay the salaries of its employees and using layoffs as a method to cut its costs. However, according to a PTI report, Byju’s received a commitment of $ 300 million from its investors.

But how did Byju’s fall from the grace that it once enjoyed with the valuation peaking at $22 billion. Explained: