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Byju’s Spectacular Meltdown – Reasons

February 24, 2024

Context:

This editorial is based on the news “Byju’s spectacular meltdown” which was published in the Business Standard. Byju’s faces an Enforcement Directorate probe for alleged forex violations.

Byju’s: On a Losing Spree

It follows losses of Rs 4,558 crore on revenues of Rs 2,298 crore in FY21.
- This is a far cry from Byju’s peak valuation of $22 billion in March 2022.

Reasons

Too much focus on Marketing: It sponsored the Indian Premier League and the football World Cup amid cash crunch while neglecting quality of education.
Losing credibility: It did not deliver what it promised, the users have lost years of their lives learning little, while parents have lost hard-earned money and, in many cases, they’re struggling to repay loans.

Also Read: Farmers Protest 2.0: Are Farmers Demands Unjustified?

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