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48 A Startup Once Valued at $22 Billion is Now Worth Nothing

Slashdot
msmash @ Slashdot 2 place · today 11:24 EDT

A Startup Once Valued at $22 Billion is Now Worth Nothing

An anonymous reader shares a report: Byju Raveendran, the founder of the embattled edtech group Byju's, acknowledged on Thursday afternoon that he made mistakes, mistimed the market, overestimated growth potential and that his startup, once valued at $22 billion, is now effectively worth "zero."

Speaking to a group of journalists, Raveendran said the company's aggressive acquisition of more than two dozen startups to expand into new markets proved fatal when financing dried up in 2022. Byju's was planning

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