How do your losses in an online ed startup be $1B when the revenue is $0.6B? WTF are you spending that much money on? Offshore retirement accounts for friends and family?<p>Edit: did some very superficial digging and it looks like they went on a very aggressive acquisition spree. Bought a bunch of other startups for hundreds of millions. <a href="https://www.reuters.com/markets/deals/indian-edtech-startup-byjus-top-acquisitions-investors-2023-06-23/" rel="nofollow">https://www.reuters.com/markets/deals/indian-edtech-startup-...</a>
"In the letter to investors, Raveendran also said the founders have infused around $1.1 billion over the past 18 months"<p>Sunk cost fallacy? Or delaying criminal charges? There is no way a valuation can drop this much without some serious scam involved.
‘Byju’s is an opportunity squandered’: Edtech journalist Pradip Saha on what went wrong<p><a href="https://www.youtube.com/watch?v=f6LEmND8Xdk" rel="nofollow">https://www.youtube.com/watch?v=f6LEmND8Xdk</a>