SUMMARY
- Byju Raveendran blames BYJU’S investors for its valuation collapse to zero.
- He claims investors pushed for expansion but deserted the company during a market downturn.
- The exit of three key investors from BYJU’S board last year made it difficult for the company to raise funding.
Byju Raveendran, founder and CEO of BYJU’S, has placed the blame for the edtech giant’s valuation collapse on its investors, stating that their push for aggressive expansion and subsequent withdrawal during market downturns led to the company’s current challenges. Once India’s most valuable startup, BYJU’S has seen its valuation plummet to zero.
Raveendran pointed out that three marquee investors exited the company’s board simultaneously last year, which significantly impacted BYJU’S ability to raise fresh capital. According to him, this mass exit undermined the company’s fundraising efforts, leaving BYJU’S in a vulnerable position as the market shifted.
The edtech startup, once hailed as a pioneer in the online education space, has struggled with increasing debt, liquidity issues, and regulatory scrutiny, contributing to its financial downturn.
