BYJU’s from ₹17500 crore to ₹ 0, a Forbes valuation, a learning from a learning app !!! teamanswerwala
An Introduction
BYJU’S is an Indian multinational educational tech company, As of April 2023, the company claims to have over 150 million registered students, headquartered in Bangalore.
Byju’s app was developed by Think and Learn Pvt. Ltd, a company which was established by Byju Raveendran, Divya Gokulnath and a group of students in 2011. Byju, an engineer by profession, has been coaching students in mathematics since 2006.
Initial Phase
Byju Raveendran, an educator, and entrepreneur. The company’s learning app provides interactive content for school subjects such as mathematics, science, and languages, using engaging videos, animations, and quizzes to help students learn concepts effectively.
During the initial days, the company focused on offering online video-based learning programs for the Middle / Higher secondary segment and for competitive exams.
BYJU’S initially gained popularity for its preparation courses for competitive exams like the Joint Entrance Examination (JEE) and the National Eligibility cum Entrance Test (NEET) in India.
Over time, it has expanded its offerings to cover a wider range of subjects and age groups from kindergarten to higher education.
The company has received significant investments and has start growing into one of the leading edtech companies worldwide, serving millions of students across India and globally. Its innovative approach to learning, use of technology, and personalized learning experiences have contributed to its success and impact in the Education sector.
As founded in 2011, Byju’s quickly grown to become India’s most valuable startup company, reaching the highest valuation of $22 billion in 2022. The company’s innovative learning app changed the education sector, serving to students from primary school to MBA aspirants.
What Went Wrong
Once high-flying edtech firm, this is a significant mark down for the poster boy of India’s kickstart ecosystem.
However, Byju’s fall from the list, Forbes said, “Only four people from last year’s list dropped off this time, including former edtech star Byju Raveendran, whose firm Byju’s was enveloped in multiple crises and its valuation was marked down by BlackRock to $1 billion, a fraction of its peak 17.5k Crore valuation in 2022.”
Once counted among India’s most valuable start-ups, Byju’s has been troubled over a range of issues since 2022, including accounting irregularities, alleged mis selling of courses, and mass layoff of key mates of the company.
The company has let go of thousands of employees over the past 12 months as it battles the double blow of drying venture capital funding and slowing demand for online learning services at the end of the pandemic. Its investor board members have left, too, citing differences with Raveendran.
However, recent financial disclosures and controversies have tarnished its reputation and eroded its value.
Present sight
Being a leader of all the headlines on webpages, Byju Raveendran’s net worth takes a hit from 17.5 Crore a year ago to ZERO amid ongoing over math.
A case of learning from “ARSH to FARSH”, as an example for the entrepreneurs, who want to multifold the profits.
A quick look at the business model, an insight, a Fairview, a tail of big investments, a pile of expectations loads on head, a selection of management, and finally a trust over the business strategy.
Disclaimer:- An article managed by #teamanswerwala, data source from open internet, magazines and news pages.
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