From Mass Layoffs To Anti-Money Laundering Charges, How 2023 Spelled Doom For BYJU’S
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On January 13, 2021, BYJU’S
On January 13, 2021, BYJU’S successfully acquired the coaching giant Akash for Rs 7,500 crore. By June 13, 2021, BYJU’S achieved the milestone of becoming the most valued Indian start-up, with a valuation of $340 million.
However, the trajectory took a downturn on November 2, 2022, as BYJU's implemented a workforce reduction of 5%, resulting in 50,000 employees layoffs by March 2023. By June, Deloitte resigned as BYJU’S auditor due to the company's failure to submit financial statements for FY22. In November, FEMA notices worth ₹9,362 were sent to Byju Raveendran’s parent company, Think & Learn, on November 21, 2023.
News9’s Shweta Kothari, Kartik Malhotra and Krishnakumar discuss the year as it was for BYJU’S
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#byjus #edtech #bankruptcy
However, the trajectory took a downturn on November 2, 2022, as BYJU's implemented a workforce reduction of 5%, resulting in 50,000 employees layoffs by March 2023. By June, Deloitte resigned as BYJU’S auditor due to the company's failure to submit financial statements for FY22. In November, FEMA notices worth ₹9,362 were sent to Byju Raveendran’s parent company, Think & Learn, on November 21, 2023.
News9’s Shweta Kothari, Kartik Malhotra and Krishnakumar discuss the year as it was for BYJU’S
..............................................................................................
News9 is India's first fully integrated English news brand across all digital platforms. It includes a publishing platform, viz. www.news9live.com, a future-ready OTT platform, News9 Plus, and a 24-Hour video streaming service on connected TVs and all social platforms.
It's the English news brand that understands and fits perfectly into the digital-first lifestyles of our English news audiences.
► Watch us on YouTube : news9live
► Like us on Facebook : Facebook: news9live
► Follow us on Instagram : Instagram: news9live
► Follow us on Twitter : Twitter: NEWS9TWEETS
#byjus #edtech #bankruptcy
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