New Delhi : To give an example of how a company comes straight from the sky to the ground, the name of only one company comes to the fore. This company is none other than Byju's, the most famous edtech company of all time. This company was going through difficult times for a long time. The financial condition of this company has become such that the company did not even have money left to pay salaries to the people.
Now it is coming to light regarding this company that the net worth i.e. value of this company has become 0. This has been confirmed by the company's founder Ravindran Byju himself and has said that the company has now reached its lowest point.
Byju told why the value of the company increased by 0
Byjul Raveendran, co-founder of Byju Company, while giving information on Thursday, said that how did the company suffer so much loss? He has told that in the year 2023, 3 major investors of the company i.e. Peak XV Partners, Prosus, and Chan Zuckerberg Initiative had resigned from the board at the same time, due to which the company suffered a huge blow. Due to this, it became difficult for the company to raise funds. In the press conference, Ravindran Byju has said that today the value of Byju has become 0.
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Used to be worth 22 billion dollars
Ravindra Byju has said in the press conference that investors like Prosus, which was once recognized as the most valuable Indian startup, have taken a step back and ended their investment. Also, giving the example of a bus, Raveendran said that Byju's investors have pushed the company's bus into a ditch. Had he not tendered his resignation and planned to vote for changes or restructuring of the company, the situation would have been different today. There was a time when the value of this debt-ridden company was $20 billion in the year 2022. Now this value has become 0.
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