Founder Says $22B Edtech Startup Byju’s Now Has No Valuation After Market Downturn

Byju Raveendran, the founder and CEO of Byju’s – one of India’s largest education technology companies, has acknowledged that the valuation of his startup has plummeted to zero after previously reaching $22 billion. Speaking to journalists recently, Raveendran outlined how aggressive expansion plans and the downturn in markets have left the company without any current valuation.

Once seen as India’s most valuable startup, Byju’s grew rapidly thanks to a string of acquisitions which saw it enter over 40 new international education markets. However, Raveendran now believes this prove fatal as global financial conditions weakened in 2022. Key investors who had urged the startup’s international push lost interest when markets tumbled following geopolitical instability. Several prominent backers also withdrew from Byju’s board citing governance issues.

Without new funding, Byju’s cash reserves dried up and it has since entered insolvency proceedings. The founder, who no longer controls the company, bluntly stated that discussions of any valuation are now meaningless saying “It’s worth zero. What valuation are you talking about? It’s worth zero.”

While undoubtedly a dramatic reversal of fortune, Raveendran remains optimistic about Byju’s long term prospects. With over $5 billion raised from an illustrious list of investors throughout its rise, it retains the potential for a comeback given the right market conditions. For now, its pioneering founder can only look on as his edtech dream is brought back down to earth with a resounding thud.