{"id":26040,"date":"2023-10-21T08:15:00","date_gmt":"2023-10-21T02:45:00","guid":{"rendered":"https:\/\/blog.researchandranking.com\/?p=26040"},"modified":"2023-11-15T13:14:06","modified_gmt":"2023-11-15T07:44:06","slug":"about-byjus-learning-app-story","status":"publish","type":"post","link":"https:\/\/www.equentis.com\/blog\/about-byjus-learning-app-story\/","title":{"rendered":"Byju\u2019s &#8211; A Gripping Tale of EdTech Ambition"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div>\n<p>Byju Raveendran, Founder &amp; CEO of the edtech unicorn\u2013 Byju\u2019s, had a vision. He envisioned a world where education was not bound by classroom walls but accessible to anyone with a smartphone. And thus, Byju\u2019s &#8211; The Learning App was born. <\/p>\n\n\n\n<p>We bring you a journey of triumphs, unprecedented highs, fall from the limelight, and more within a few years.  Let&#8217;s begin with a trip down memory lane and meander to the story of what happened with Byju&#8217;s&#8230;<\/p>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-28f84493 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:100%\">\n<div class=\"wp-block-group is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-cp-timeline-content-timeline-block Cool-Content-Timeline\"><div class=\"cool-timeline-block-66681181-9c05-485f-90e1-7dc29dca5dd3\"><style>.cool-timeline-block-66681181-9c05-485f-90e1-7dc29dca5dd3 .cool-vertical-timeline-body .story-time p{color: #333;}.cool-timeline-block-66681181-9c05-485f-90e1-7dc29dca5dd3 .cool-vertical-timeline-body::before{background: linear-gradient(to bottom, rgba(230, 230, 230, 0) 0%, #D91B3E 10%, #D91B3E 90%, rgba(230, 230, 230, 0) 100%);}.cool-timeline-block-66681181-9c05-485f-90e1-7dc29dca5dd3 .cool-vertical-timeline-body .timeline-content::before{background: #D91B3E;}.cool-timeline-block-66681181-9c05-485f-90e1-7dc29dca5dd3 .cool-vertical-timeline-body.left .story-details::after{background: #D91B3E;}.cool-timeline-block-66681181-9c05-485f-90e1-7dc29dca5dd3 .cool-vertical-timeline-body.right .story-time::after{background: #D91B3E;}.cool-timeline-block-66681181-9c05-485f-90e1-7dc29dca5dd3 .cool-vertical-timeline-body .timeline-content.icon-true .timeline-block-icon{background: #D91B3E;}.cool-timeline-block-66681181-9c05-485f-90e1-7dc29dca5dd3 .cool-vertical-timeline-body .timeline-content.icon-false .timeline-block-icon{background: transparent;}.cool-timeline-block-66681181-9c05-485f-90e1-7dc29dca5dd3 .cool-vertical-timeline-body .timeline-content.icon-false .timeline-block-icon svg{fill: #D91B3E;}.cool-timeline-block-66681181-9c05-485f-90e1-7dc29dca5dd3 .cool-vertical-timeline-body.both-sided .timeline-content .position-right .story-details::before{border-right-color: #D91B3E !important;}.cool-timeline-block-66681181-9c05-485f-90e1-7dc29dca5dd3 .cool-vertical-timeline-body.both-sided .timeline-content .position-left  .story-details::before{border-left-color: #D91B3E;}.cool-timeline-block-66681181-9c05-485f-90e1-7dc29dca5dd3 .cool-vertical-timeline-body.one-sided.left .timeline-content  .story-details::before{border-right-color: #D91B3E;}.cool-timeline-block-66681181-9c05-485f-90e1-7dc29dca5dd3 .cool-vertical-timeline-body.one-sided.right .timeline-content  .story-details::before{border-left-color: #D91B3E;}.cool-timeline-block-66681181-9c05-485f-90e1-7dc29dca5dd3 .cool-vertical-timeline-body .timeline-content  .story-details{border-color: #D91B3E !important;}.cool-timeline-block-66681181-9c05-485f-90e1-7dc29dca5dd3 .cool-vertical-timeline-body .timeline-content  .timeline-block-icon{border-color: #D91B3EFF !important;}.cool-timeline-block-66681181-9c05-485f-90e1-7dc29dca5dd3 .icon-true .timeline-block-icon span.timeline-block-render-icon svg{fill: white;}<\/style><div class=\"cool-vertical-timeline-body both-sided left\"><div class=\"cool-timeline-block-list\">\n<div class=\"wp-block-cp-timeline-content-timeline-block-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-left ctl_timeFalse\"><div class=\"ctl-6 timeline-block-time\"><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewBox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-image\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1400\" height=\"650\" src=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-02.jpg\" alt=\"\" class=\"wp-image-27198\" title=\"\" srcset=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-02.jpg 1400w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-02-300x139.jpg 300w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-02-768x357.jpg 768w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-02-1024x475.jpg 1024w\" sizes=\"(max-width: 1400px) 100vw, 1400px\" \/><\/div><div class=\"story-content\"><h3 class=\"timeline-block_title\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-color\">The Rise of the EdTech Unicorn<\/mark><\/h3><div class=\"timeline-block_desc\"><p><\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-block-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-right\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-secondary-color\">2008<\/mark><\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewBox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-image\"><img decoding=\"async\" width=\"1400\" height=\"650\" src=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-01.jpg\" alt=\"\" class=\"wp-image-27197\" title=\"\" srcset=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-01.jpg 1400w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-01-300x139.jpg 300w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-01-768x357.jpg 768w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-01-1024x475.jpg 1024w\" sizes=\"(max-width: 1400px) 100vw, 1400px\" \/><\/div><div class=\"story-content\"><h3 class=\"timeline-block_title\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-color\"><strong>The Idea of Byju&#8217;s is Born<\/strong><\/mark><\/h3><div class=\"timeline-block_desc\"><p>Byju\u2019s humble beginnings can be traced back to Raveendran\u2019s days as a college coach in Bengaluru. <br>He could simplify complex subjects, making his classes wildly popular.<br>\u00a0<br>Soon, he taught thousands in a sports stadium, projecting lessons on giant screens. Raveendran\u2019s teaching methods stood out in a country with scarce quality instructors.<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-block-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-left\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p><strong>2011<\/strong><\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewBox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-image\"><img decoding=\"async\" width=\"1400\" height=\"650\" src=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-20.jpg\" alt=\"\" class=\"wp-image-27216\" title=\"\" srcset=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-20.jpg 1400w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-20-300x139.jpg 300w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-20-768x357.jpg 768w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-20-1024x475.jpg 1024w\" sizes=\"(max-width: 1400px) 100vw, 1400px\" \/><\/div><div class=\"story-content\"><h3 class=\"timeline-block_title\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-color\"><strong> Floats Think and Learn Pvt Ltd<\/strong><\/mark><\/h3><div class=\"timeline-block_desc\"><p>Recognizing the potential of his teaching approach, Raveendran recruited his brightest students to join him. He opened 41 coaching centers and, in 2011, officially registered his venture as <strong>&#8220;Think and Learn Pvt Ltd., the parent company of Byju.&#8221;<\/strong><br>\u00a0<br><\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-block-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-right\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p><strong>2015<\/strong><\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewBox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1400\" height=\"650\" src=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-04.jpg\" alt=\"\" class=\"wp-image-27200\" title=\"\" srcset=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-04.jpg 1400w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-04-300x139.jpg 300w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-04-768x357.jpg 768w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-04-1024x475.jpg 1024w\" sizes=\"(max-width: 1400px) 100vw, 1400px\" \/><\/div><div class=\"story-content\"><h3 class=\"timeline-block_title\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-color\"><strong>Launches Self-learning App<\/strong><\/mark><\/h3><div class=\"timeline-block_desc\"><p>In 2015, Byju launched a self-learning app primarily focused on <strong>math, science, and English<\/strong> for primary school students. <br><br>The app\u2019s engaging video lessons simplified complex concepts, making it immensely popular. Byju\u2019s was no longer just a platform but a revolution.<br><br>The company\u2019s rapid growth attracted substantial funding, with <a href=\"https:\/\/www.equentis.com\/blog\/key-global-events-that-can-influence-the-stock-market-this-week-3\/\">global<\/a> giants like Tencent and the Chan Zuckerberg Initiative investing heavily. Sequoia Capital, an early supporter, joined in 2015 with a <strong>$58 million investment<\/strong><\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-block-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-left\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p><strong>2016<\/strong><\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewBox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1400\" height=\"650\" src=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-03.jpg\" alt=\"\" class=\"wp-image-27199\" title=\"\" srcset=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-03.jpg 1400w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-03-300x139.jpg 300w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-03-768x357.jpg 768w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-03-1024x475.jpg 1024w\" sizes=\"(max-width: 1400px) 100vw, 1400px\" \/><\/div><div class=\"story-content\"><h3 class=\"timeline-block_title\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-color\">Monetization<\/mark><\/h3><div class=\"timeline-block_desc\"><p>Byju\u2019s understood the art of monetizing education. They offered free content to lure users and enticed them with subscription plans. <br><br>With millions of users subscribing, Byju\u2019s revenues skyrocketed. They also acquired competitors like Toppr and WhiteHat Jr. Aakash, further solidifying their position.<br>\u00a0<br><\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-block-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-right\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p><strong>2019<\/strong><\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewBox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1400\" height=\"650\" src=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-05.jpg\" alt=\"\" class=\"wp-image-27201\" title=\"\" srcset=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-05.jpg 1400w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-05-300x139.jpg 300w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-05-768x357.jpg 768w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-05-1024x475.jpg 1024w\" sizes=\"(max-width: 1400px) 100vw, 1400px\" \/><\/div><div class=\"story-content\"><h3 class=\"timeline-block_title\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-color\">The Pandemic Boost<\/mark><\/h3><div class=\"timeline-block_desc\"><p>When the COVID-19 pandemic hit, Byju\u2019s was ready. With schools shut down and students stuck at home, the demand for online education surged. <br><br>Byju\u2019s cashed in, reporting exponential user numbers and revenue growth during this period.<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-block-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-left ctl_timeFalse\"><div class=\"ctl-6 timeline-block-time\"><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewBox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1400\" height=\"650\" src=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-06.jpg\" alt=\"\" class=\"wp-image-27202\" title=\"\" srcset=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-06.jpg 1400w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-06-300x139.jpg 300w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-06-768x357.jpg 768w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-06-1024x475.jpg 1024w\" sizes=\"(max-width: 1400px) 100vw, 1400px\" \/><\/div><div class=\"story-content\"><h3 class=\"timeline-block_title\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-color\">The Beginning of Decline<\/mark><\/h3><div class=\"timeline-block_desc\"><p>What went wrong? You ask. <br>We&#8217;ll tell you<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-block-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-right\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p><strong> 2021<\/strong><\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewBox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1400\" height=\"650\" src=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-07.jpg\" alt=\"\" class=\"wp-image-27203\" title=\"\" srcset=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-07.jpg 1400w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-07-300x139.jpg 300w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-07-768x357.jpg 768w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-07-1024x475.jpg 1024w\" sizes=\"(max-width: 1400px) 100vw, 1400px\" \/><\/div><div class=\"story-content\"><h3 class=\"timeline-block_title\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-color\">Trouble Brewing<\/mark><\/h3><div class=\"timeline-block_desc\"><p>Byju\u2019s had its share of troubles. As it grew, concerns arose.<br><br>Byju began diverting from its core mission of providing quality education, instead focusing on selling hardware devices such as tablets and laptops to students and parents.<br>The <strong>free content that once defined Byju\u2019s now was vanishing.<\/strong><br><\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-block-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-left\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p><strong>2021<\/strong><\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewBox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1400\" height=\"650\" src=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-08.jpg\" alt=\"\" class=\"wp-image-27204\" title=\"\" srcset=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-08.jpg 1400w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-08-300x139.jpg 300w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-08-768x357.jpg 768w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-08-1024x475.jpg 1024w\" sizes=\"(max-width: 1400px) 100vw, 1400px\" \/><\/div><div class=\"story-content\"><h3 class=\"timeline-block_title\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-color\">Facing Backlash<\/mark><\/h3><div class=\"timeline-block_desc\"><p>Byju\u2019s aggressive marketing strategies faced backlash, with allegations of misleading ads and aggressive sales tactics. <br><br>Public perception shifted, tarnishing the once-shining brand. Critics questioned the quality of the content and the pressure placed on students to enroll in costly courses.<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-block-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-right\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p><strong>2021<\/strong><\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewBox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1400\" height=\"650\" src=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-09.jpg\" alt=\"\" class=\"wp-image-27205\" title=\"\" srcset=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-09.jpg 1400w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-09-300x139.jpg 300w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-09-768x357.jpg 768w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-09-1024x475.jpg 1024w\" sizes=\"(max-width: 1400px) 100vw, 1400px\" \/><\/div><div class=\"story-content\"><h3 class=\"timeline-block_title\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-color\">Waning Business Prospects<\/mark><\/h3><div class=\"timeline-block_desc\"><p>As the pandemic waned and students returned to physical classrooms, Byju\u2019s was shaky. <br><br>The rapid adoption of online learning in India was less enduring than anticipated because of cultural preferences for traditional classroom-based education, the digital divide, and limited internet access in many areas.<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-block-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-left\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p><strong>2021<\/strong><\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewBox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1400\" height=\"650\" src=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-10.jpg\" alt=\"\" class=\"wp-image-27206\" title=\"\" srcset=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-10.jpg 1400w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-10-300x139.jpg 300w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-10-768x357.jpg 768w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-10-1024x475.jpg 1024w\" sizes=\"(max-width: 1400px) 100vw, 1400px\" \/><\/div><div class=\"story-content\"><h3 class=\"timeline-block_title\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-color\">Adding Perspective<\/mark><\/h3><div class=\"timeline-block_desc\"><p>\u00a0<br>Dr. Usha Batra, an academic researcher, remarked on Byju\u2019s approach, saying, \u201cWhat Byju\u2019s did was to use technology as a replacement, rather than a complementary, tool to learning. While selling expensive courses to children, the company overlooked digital disparity, affordability, and literacy.\u201d<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-block-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-right\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p><strong>2021<\/strong><\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewBox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1400\" height=\"650\" src=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-11.jpg\" alt=\"\" class=\"wp-image-27207\" title=\"\" srcset=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-11.jpg 1400w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-11-300x139.jpg 300w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-11-768x357.jpg 768w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-11-1024x475.jpg 1024w\" sizes=\"(max-width: 1400px) 100vw, 1400px\" \/><\/div><div class=\"story-content\"><h3 class=\"timeline-block_title\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-color\">Regulatory Challenges<\/mark><\/h3><div class=\"timeline-block_desc\"><p>Indian authorities began scrutinizing the edtech industry closely, imposing restrictions on certain practices. <br><br>Queries about the firm\u2019s financial accounts for the fiscal year ending in March 2021 raised concerns, and the enforcement directorate even issued summons to company officials.<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-block-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-left\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p><strong>2021<\/strong><\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewBox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1400\" height=\"650\" src=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-12.jpg\" alt=\"\" class=\"wp-image-27208\" title=\"\" srcset=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-12.jpg 1400w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-12-300x139.jpg 300w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-12-768x357.jpg 768w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-12-1024x475.jpg 1024w\" sizes=\"(max-width: 1400px) 100vw, 1400px\" \/><\/div><div class=\"story-content\"><h3 class=\"timeline-block_title\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-color\">Losses<\/mark> <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-color\">Revealed<\/mark><\/h3><div class=\"timeline-block_desc\"><p>\u00a0<br>Eighteen months following the end of the financial year, Byju revealed its audited statements, projected losses of <strong>45.7 billion rupees, marking a significant 13-fold increase <\/strong>compared to the previous year.<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-block-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-right\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p><strong>2021<\/strong><\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewBox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1400\" height=\"650\" src=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-13.jpg\" alt=\"\" class=\"wp-image-27209\" title=\"\" srcset=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-13.jpg 1400w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-13-300x139.jpg 300w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-13-768x357.jpg 768w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-13-1024x475.jpg 1024w\" sizes=\"(max-width: 1400px) 100vw, 1400px\" \/><\/div><div class=\"story-content\"><h3 class=\"timeline-block_title\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-color\"><strong>Facing Fierce Competition<\/strong><\/mark><\/h3><div class=\"timeline-block_desc\"><p>The ed-tech space became fiercely competitive. Several new players entered the market, offering innovative solutions and challenging Byju\u2019s dominance. <br><br>This intensified competition forced Byju\u2019s to spend more on marketing and acquisitions, putting pressure on its finances.<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-block-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-left\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p><strong>2021<\/strong><\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewBox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1400\" height=\"650\" src=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-14.jpg\" alt=\"\" class=\"wp-image-27210\" title=\"\" srcset=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-14.jpg 1400w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-14-300x139.jpg 300w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-14-768x357.jpg 768w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-14-1024x475.jpg 1024w\" sizes=\"(max-width: 1400px) 100vw, 1400px\" \/><\/div><div class=\"story-content\"><h3 class=\"timeline-block_title\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-color\">Financial Woes<\/mark> <\/h3><div class=\"timeline-block_desc\"><p>Byju\u2019s rapid expansion came at a cost. The company accumulated substantial debt, raising concerns about its financial sustainability. Investors started to question whether the unicorn could justify its sky-high valuations.<br>\u00a0<br>In 2021, Byju\u2019s posted a <strong>staggering loss of $327 million, <\/strong>and the firm\u2019s financial instability raised alarm bells.<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-block-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-right\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p><strong>2021<\/strong><\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewBox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1400\" height=\"650\" src=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-15.jpg\" alt=\"\" class=\"wp-image-27211\" title=\"\" srcset=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-15.jpg 1400w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-15-300x139.jpg 300w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-15-768x357.jpg 768w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-15-1024x475.jpg 1024w\" sizes=\"(max-width: 1400px) 100vw, 1400px\" \/><\/div><div class=\"story-content\"><h3 class=\"timeline-block_title\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-color\">Financial Woes Continued<\/mark><\/h3><div class=\"timeline-block_desc\"><p>Employees questioned Raveendran\u2019s business instincts: Even as the lifting of Covid restrictions battered edtech, he sought to raise more equity \u2014 rather than conserve cash and target profitability.<br>\u00a0<br>The company borrowed heavily from various sources, including banks, private equity firms, and venture capitalists (VCs), to fund its expansion and acquisitions. <br><br>The company struggled to generate sufficient cash flow to meet its debt obligations promptly. This resulted in a $300 million loan default from Redwood Global <a href=\"https:\/\/www.equentis.com\/blog\/mukul-agrawal-portfolio-shareholdings-investments-all-you-need-to-know\/\">Investments<\/a>, a fund headquartered in Singapore, in 2021. <\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-block-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-left\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p><strong>2022<\/strong><\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewBox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1400\" height=\"650\" src=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-16.jpg\" alt=\"\" class=\"wp-image-27212\" title=\"\" srcset=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-16.jpg 1400w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-16-300x139.jpg 300w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-16-768x357.jpg 768w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-16-1024x475.jpg 1024w\" sizes=\"(max-width: 1400px) 100vw, 1400px\" \/><\/div><div class=\"story-content\"><h3 class=\"timeline-block_title\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-color\">Reworking Debt, Rising Doubts <\/mark><\/h3><div class=\"timeline-block_desc\"><p>Byju\u2019s then attempted to rework the conditions of a separate $500 million loan from the same fund but encountered another default in 2022.<br><br>In the face of this liquidity crunch, investors were concerned about Byju\u2019s financial stability. Some creditors, including Blackstone, divested their holdings. <br><br>Byju\u2019s defaulted on a $40 million interest payment, resulting in a lawsuit against the lenders in New York.<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-block-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-right\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p><strong>2023<\/strong><\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewBox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1400\" height=\"650\" src=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-17.jpg\" alt=\"\" class=\"wp-image-27213\" title=\"\" srcset=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-17.jpg 1400w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-17-300x139.jpg 300w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-17-768x357.jpg 768w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-17-1024x475.jpg 1024w\" sizes=\"(max-width: 1400px) 100vw, 1400px\" \/><\/div><div class=\"story-content\"><h3 class=\"timeline-block_title\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-color\">Leaving The Shipwreck<\/mark><\/h3><div class=\"timeline-block_desc\"><p>In June 2023, Deloitte, one of the world&#8217;s premier auditing firms, abruptly resigned as Byju&#8217;s auditor. They cited prolonged delays in receiving financial statements and unresolved modifications to the audit report.<br>\u00a0<br>Furthermore, Prosus significantly reduced Byju&#8217;s valuation from $22 billion the previous year to just $5.1 billion.<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-block-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-left\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p><strong>2023<\/strong><\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewBox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1400\" height=\"650\" src=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-18.jpg\" alt=\"\" class=\"wp-image-27214\" title=\"\" srcset=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-18.jpg 1400w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-18-300x139.jpg 300w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-18-768x357.jpg 768w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-18-1024x475.jpg 1024w\" sizes=\"(max-width: 1400px) 100vw, 1400px\" \/><\/div><div class=\"story-content\"><h3 class=\"timeline-block_title\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-color\">Things Change For The Worse<\/mark> <\/h3><div class=\"timeline-block_desc\"><p>Things worsened when Byju&#8217;s took an unconventional path, resorting to extensive layoffs. <br><br>Thousands of employees were given the pink slip, and the rest were subjected to grueling double shifts with unrealistic targets. <\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-block-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-right\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p><strong>2023<\/strong><\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewBox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1400\" height=\"650\" src=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-19.jpg\" alt=\"\" class=\"wp-image-27215\" title=\"\" srcset=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-19.jpg 1400w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-19-300x139.jpg 300w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-19-768x357.jpg 768w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-19-1024x475.jpg 1024w\" sizes=\"(max-width: 1400px) 100vw, 1400px\" \/><\/div><div class=\"story-content\"><h3 class=\"timeline-block_title\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-color\">Investor&#8217;s View<\/mark><\/h3><div class=\"timeline-block_desc\"><p>Dr. Aniruddha Malpani, an angel investor, shared his perspective, calling Byju\u2019s \u201cthe classic case of a man biting off more than he could chew. It\u2019s a story of greed and a nauseous race to strike gold in the valuation race by savage competition that plagues the start-up space today.\u201d<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-block-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-left\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p><strong>2023<\/strong><\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewBox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1400\" height=\"650\" src=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-21.jpg\" alt=\"\" class=\"wp-image-27217\" title=\"\" srcset=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-21.jpg 1400w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-21-300x139.jpg 300w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-21-768x357.jpg 768w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-21-1024x475.jpg 1024w\" sizes=\"(max-width: 1400px) 100vw, 1400px\" \/><\/div><div class=\"story-content\"><h3 class=\"timeline-block_title\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-color\">A Sigh of Relief<\/mark><\/h3><div class=\"timeline-block_desc\"><p>In a recent development, Byju&#8217;s received a lifeline earlier this week when the steering committee of lenders announced their decision to amend a $1.2 billion term loan with Byju&#8217;s, with the deadline set for August 3, 2023.<br><br>The company appointed a new CFO, former SBI chairman Rajnish Kumar, and former Infosys CFO TV Mohandas Pai to the board advisory council. <br><br><strong>Will this be enough?<\/strong><\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-block-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-right\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p><strong>2023<\/strong><\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewBox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1400\" height=\"650\" src=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-22.jpg\" alt=\"\" class=\"wp-image-27218\" title=\"\" srcset=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-22.jpg 1400w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-22-300x139.jpg 300w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-22-768x357.jpg 768w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-22-1024x475.jpg 1024w\" sizes=\"(max-width: 1400px) 100vw, 1400px\" \/><\/div><div class=\"story-content\"><h3 class=\"timeline-block_title\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-color\">A New Chapter<strong>?<\/strong><\/mark><\/h3><div class=\"timeline-block_desc\"><p>Today, Byju\u2019s stands at a crossroads. The rise was undoubtedly spectacular, but the decline has been equally precipitous. <br><br>Will the Ed-tech giant adapt to a changing landscape and rebuild customer trust? It may need to pivot its strategy, prioritizing quality education and ethical practices over aggressive growth.<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-cp-timeline-content-timeline-block-child swiper-slide\"><div class=\"timeline-content icon-false \"><div class=\"timeline-block-timeline ctl-row  position-left\"><div class=\"ctl-6 timeline-block-time\"><div class=\"story-time\"><p>2023<\/p><\/div><\/div><div class=\"timeline-block-icon\"><svg stroke=\"currentColor\" fill=\"currentColor\" stroke-width=\"0\" viewBox=\"0 0 512 512\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8z\"><\/path><\/svg><\/div><div class=\"ctl-6 timeline-block-detail\"><div class=\"story-details\"><div class=\"story-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1400\" height=\"650\" src=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-23.jpg\" alt=\"\" class=\"wp-image-27219\" title=\"\" srcset=\"https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-23.jpg 1400w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-23-300x139.jpg 300w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-23-768x357.jpg 768w, https:\/\/www.equentis.com\/blog\/wp-content\/uploads\/2023\/10\/BYJUS-BLOG_-23-1024x475.jpg 1024w\" sizes=\"(max-width: 1400px) 100vw, 1400px\" \/><\/div><div class=\"story-content\"><h3 class=\"timeline-block_title\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-accent-color\">Is It The End?<\/mark><\/h3><div class=\"timeline-block_desc\"><p>The story of Byju remains a captivating tale of ambition and achievement, highlighting the potential and pitfalls of modern education technology.<br><br>Will Byju recover from its downward spiral or decline further to become one of the thousand businesses that failed to correctly capitalize on their USPs. <br><br><strong>Only Time Will Tell? <\/strong><\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/div><\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Let&#8217;s begin with a trip down memory lane and meander to the story of what happened with Byju&#8217;s.<\/p>\n","protected":false},"author":5,"featured_media":27367,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1411],"tags":[],"class_list":["post-26040","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-saga"],"_links":{"self":[{"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/posts\/26040","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/comments?post=26040"}],"version-history":[{"count":0,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/posts\/26040\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/media\/27367"}],"wp:attachment":[{"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/media?parent=26040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/categories?post=26040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.equentis.com\/blog\/wp-json\/wp\/v2\/tags?post=26040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}