The downfall of Byju's: How the world's most valuable learning app became a trap
The group is facing an acute liquidity crunch. Amid mass layoffs and deep losses, the former billionaire founder has sold his homes to pay salaries. Still, Raveendran is not entirely out of options. Byjus could raise funds by selling Epic!, its US-based kids digital reading platform. At home, its physical test-prep business has seen interest from a wealthy Indian investor. In a sale or initial public offering of the unit, the crown jewel of the shrinking empire could fetch more than the nearly $1 billion Byjus had paid for it in 2021.
Source: indiatimes.com
