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Once hailed as India's most-valued startup, BYJU's has been facing a lot of financial challenges and has over 90% lowered its valuation to tackle its liquidity crunch

Byju's disburses January salaries; Byju Raveendran seeks employee support amidst financial challenges

<h2>Once hailed as India's most-valued startup, BYJU's has been facing a lot of financial challenges and has over 90% lowered its valuation to tackle its liquidity crunch</h2>

Ed-Tech firm Byju's has disbursed January salaries to its staff. Reports had earlier indicated that the release of salaries had been delayed due to an escalating liquidity crisis. While releasing the January salaries, Founder Byju Raveendran also personally reached out to employees, urging their support during the company's ongoing difficult phase. "I have been moving mountains for months to make payroll, and this time, the struggle was even bigger to ensure that you receive what you rightfully deserve. Everybody has made sacrifices, everybody has grappled with decisions they never desired to make, and everybody is a little bit weary in this battle, but nobody has chosen to give up," Byju said in a letter to employees on Sunday. "Nothing matters to me more than your belief in my ability to deliver. I fight for you. You fight alongside me. This is the sacred relationship that has helped me weather every storm," Byju said. "My father is my role model; I am a teacher because he once was; I am an entrepreneur because he always taught me to follow my dreams. That he, my rock-solid support, was moved to tears made me feel a sudden pain," he said. According to a Moneycontrol report, the company's monthly payroll costs approximately ₹70 crore. Once hailed as India's most-valued startup, BYJU's has been facing a lot of financial challenges and has launched a rights issue to tackle its liquidity crunch.

In another round of layoffs, Edtech company Byju's lets go of more than 1000 people, as per reports. This after the company handed out pink slip to atleast 2500 employees in October last year.  

Fresh layoffs at Edtech company Byju's

In another round of layoffs, Edtech company Byju's lets go of more than 1000 people, as per reports. This after the company handed out pink slip to atleast 2500 employees in October last year.&nbsp;&nbsp;

More trouble for edtech company Byju's. After being embroiled in controversy last year over alleged mis-selling and accounting discrepancies, reports say that the company has undertaken another round of layoffs. This comes just months afer 2500 employees were laid off in October last year.&nbsp; The current round of layoffs are reportedly from the engineering, sales, logistics, marketing and communications teams.&nbsp; What makes it worse is that the co-founder Byju Raveendran had sent out multiple emails to employees that the company would not undertake more layoffs after the last round.&nbsp;
A moneycontrol report says that none of the employees were told about the layoffs over mail but were asked to join meetings on Google meet where they were informed. The report also says, Byju's declined to comment on the story.&nbsp;&nbsp; Amidst a funding crunch, Byju's has been aggressively cutting costs after reporting a net loss of over Rs 4500 crore.&nbsp;&nbsp;
&nbsp;

This is not the first time Byju's is facing a complain like this

Byju's is threatening parents and children: Child Rights Body

This is not the first time Byju's is facing a complain like this

The National Commission for Protection of Child Rights (NCPCR) said it had received complaints that edtech company Byju's is allegedly threatening their customers. Byju&rsquo;s allegedly bought phone numbers of children and their parents and scared them into buying their courses.&nbsp;
According to reports, Byju's is targeting first-generation learners. NCPCR further said that it will initiate action and, if needed, we&rsquo;ll make write to the government.&nbsp;
This is not the first time Byju's is facing a complain like this. Earlier, the commission had summoned Byju's CEO Byju Raveendran, asking him to appear in person on December 23 over alleged malpractice of hard selling and misselling of its courses for students.
The panel took action based on a news report that the sales team of the company was indulging in malpractices to lure parents to buy their courses for their children.

Byju’s appoints Lionel Messi as brand ambassador; faces social media backlash 

Byju’s again facing social media backlash

Byju&rsquo;s appears to be continuing with its spending on promotions. For instance, the company spent close to $30-$40 million to become the first Indian company to sponsor a FIFA world cup

''Byju's has enough money to make Lionel Messi their global brand ambassador but has plans to layoff as many as 2,500 employees as a cost-cut measure'' is what one user wrote after Byju's announced football star and global sports icon Lionel &ldquo;Leo&rdquo; Messi as the first global brand ambassador of its social impact arm, Education For All.
Messi&rsquo;s signing comes ahead of the FIFA World Cup 2022, which counts Byju&rsquo;s as an official sponsor. The star footballer also runs his own non-profit organisation Leo Messi Foundation, which invests in areas like healthcare, education and sports.
While, the endorsement fee paid to Messi is not known, India&rsquo;s most valuable edtech company is currently taking tough measures to cut down its costs. The measures include laying off 2500 employees, shutting down its physical offices in multiple cities and shifting its sales machinery from on-field sales to inside sales.
However, Byju&rsquo;s appears to be continuing with its spending on promotions. For instance, the company spent close to $30-$40 million to become the first Indian company to sponsor a FIFA world cup.

Byju's balance sheet: why revenues and results are baffling everyone 

Byju's balance sheet: why revenues and results are baffling everyone&nbsp;

India's most valued startup Byju's has attracted attention and it seems due to the wrong reasons.
After months of delay, Indian education company Byju's finally reported its audited results for the financial year ending March 31, 2021.
According to reports, its losses have swelled nearly 15 times to over Rs 4500 cr from the same period a year before. This even as revenues stayed roughly flat at Rs 2200 Cr. This means that Byju&rsquo;s lost Rs 12.50 Cr every day of the financial year.&nbsp;
The company's co-founder and CEO Byju Raveendran said that there was an impact of revenue recognition changes, which is recognition of streaming revenue over the period of consumption and credit sales, and EMI sales getting recognised after complete collection.
Owing to the pandemic, the auditor said BYJU&rsquo;s faced hardships not only in terms of business operations but also in implementation and operating effectiveness of certain internal controls over financial reporting.
Not only this, RPG Enterprises chairman Harsh Goenka and Biocon executive chairperson Kiran Mazumdar-Shaw commented at Byju's balance sheet. Goenka took to Twitter and wrote, &ldquo;Byju&rsquo;s revenues - 2,280 crore; Byju&rsquo;s losses- 4,588 crore (increases 17 times). That means you give me Rs 1 and I will return Rs 2. Valuation- $22 billion (number 1 among startups). Hottest sector to invest- edutech. Nothing is making sense to me! Can anyone explain please?&rdquo;
Soon after Goenka tweeted, the Biocon boss said that these valuations are like virtual reality and don't stack up.&nbsp;
The startup's financial challenges have reignited worries about India's consumer technology sector, where big competitors' public valuations, including those of Zomato Ltd. and Paytm, have fallen precipitously this year. &nbsp;
Following a decline in technology valuations, the company's plan to list on a US stock market through a merger with a special purpose acquisition company is "on complete pause".&nbsp;
Not only this, a lot of complaints like hard-selling courses, poor study material, pushing financing options and frustrating refund processes have been pilled up Byju's.&nbsp;

Move aside unicorns as we put the focus on decacorns. Over 35 privately-owned start-ups globally now command a valuation of over $10 billion dollars.
With TikTok parent ByteDance tipping the scale at $140 billion, one Indian company has also made it to the rankings.
Here are 5 decacorns that caught the EJ eye! 
1. First up the obvious - Dancing away to a $140 billion valuation is the creator of TikTok, ByteDance. The video-sharing platform has reached 1 billion monthly users worldwide, adding 300 million users in a year. But bear in mind this China-based platform's valuation is speculated to be north of $300 billion as per market buzz of the latest share sale in the unlisted market. 
2. Staying within the creative space, a start-up from Downunder was a surprise entry- the graphic creation platform Canva. The company achieved a $40 billion valuation in September, triple the figure from five months before, making the entrepreneur Melanie Perkins one of the world’s richest women. 
Perkins reportedly started Canva from her mother’s living room in 2012 with a vision that anyone, with a little help, could become a decent graphic designer. Canva’s freemium software is used by more than 60 million monthly users. But more than 500,000 paying teams now use Canva, too.
3. From social and design platforms to gaming! The trinity of the pandemic push ...Epic Games, developer of the popular video game Fortnite makes it to the list with a $28 billion valuation. 
Epic’s latest market value represents a 66% increase from what it was worth last year. Outside the gaming world, Epic is best known for it' battle with Apple and even Google as it drags the tech giants to court over 'uncompetitive' practices on their respective App Stores. 
4. China's crackdown on Edtech funding may have been India's gain as the only Indian start-up to make the list is Edtech giant Byju's with a valuation topping $21 billion. India’s most valuable start-up, the online education provider Byju’s has acquired 10 companies in just the last year. 
Byju’s, which became a unicorn in 2018 has doubled its valuation in 3 years and spent over $2.5 billion in buyouts in 2021 alone. Byju’s currently has more than 100 million registered students and 6.5 million paid subscribers.
5. Good grammar pays ..well at least for Grammarly, this US-based popular grammar checking tool is now valued at $13 billion. Two Ukrainian-born entrepreneurs started the subscription-based automated writing assistant called Sentenceworks in 2009 to help students with their grammar and spelling.
The product later evolved into Grammarly, which is now the 10th most valuable US startup as 30 million people use the writing software each day, according to the San Francisco-based company.

Year Ender 2021| Meet the decacorns as we step into 2022

Move aside unicorns as we put the focus on decacorns. Over 35 privately-owned start-ups globally now command a valuation of over $10 billion dollars.

With TikTok parent ByteDance tipping the scale at $140 billion, one Indian company has also made it to the rankings.

Here are 5 decacorns that caught the EJ eye! 

With TikTok&nbsp;parent&nbsp;ByteDance&nbsp;tipping the scale at $140 billion, one Indian company has also made it to the rankings.

Move aside unicorns as we put the focus on decacorns. Over 35 privately-owned start-ups&nbsp;globally now command a valuation of over $10 billion dollars.
Also watch |&nbsp;<a title="Year Ender 2021| What did India binge on, here is the menu of top snacks" href="https://www.editorji.com/business-news/year-ender-2021-what-did-india-binge-on-here-is-the-menu-of-top-snacks-1640167336254">Year Ender 2021| What did India binge on, here is the menu of top snacks</a>
With TikTok&nbsp;parent&nbsp;ByteDance&nbsp;tipping the scale at $140 billion, one Indian company has also made it to the rankings.
Here are 5 decacorns that caught the EJ eye!&nbsp;
1. First up the obvious - Dancing away to a $140 billion valuation is the creator of TikTok,&nbsp;ByteDance. The video-sharing platform has reached&nbsp;1 billion monthly users&nbsp;worldwide, adding 300 million users in a year. But bear in mind this China-based platform's valuation is speculated to be north of $300 billion as per market buzz of the latest share sale in the unlisted market.&nbsp;
2. Staying within the creative space, a start-up from Downunder was a surprise entry- the graphic creation platform&nbsp;Canva. The company achieved a $40&nbsp;billion valuation in September, triple&nbsp;the figure from five months before, making the entrepreneur Melanie Perkins one of the world&rsquo;s richest women.&nbsp;
Perkins reportedly started&nbsp;Canva&nbsp;from her mother&rsquo;s living room in 2012 with a vision that anyone, with a little help, could become a decent graphic designer.&nbsp;Canva&rsquo;s freemium software is used by more than 60 million monthly users. But more than 500,000 paying teams now use Canva, too.
3. From social and design platforms to gaming! The trinity of the pandemic push ...Epic Games, developer of the popular video game Fortnite&nbsp;makes it to the list with a&nbsp;$28 billion valuation.&nbsp;
Epic&rsquo;s latest market value represents a 66% increase from what it was worth last year. Outside the gaming world, Epic is best known for it' battle with Apple and even Google as it drags the tech giants to court over 'uncompetitive' practices on their respective App Stores.&nbsp;
4. China's crackdown on Edtech&nbsp;funding&nbsp;may have been India's gain as the only Indian start-up&nbsp;to make the list is Edtech&nbsp;giant Byju's&nbsp;with a valuation topping $21 billion.&nbsp;India&rsquo;s most valuable start-up, the online education provider&nbsp;Byju&rsquo;s has acquired 10 companies in just the last year.&nbsp;
Byju&rsquo;s, which became a unicorn in 2018 has doubled its valuation in 3 years and spent over $2.5 billion in buyouts in 2021 alone.&nbsp;Byju&rsquo;s currently has more than 100 million registered students and 6.5 million paid subscribers.
5. Good grammar pays ..well at least for&nbsp;Grammarly, this US-based&nbsp;popular grammar checking tool is now valued at $13 billion.&nbsp;Two Ukrainian-born entrepreneurs started the subscription-based automated writing assistant called Sentenceworks in 2009 to help students with their grammar and spelling.
The product later evolved into Grammarly, which is now the 10th most valuable US startup as 30 million people use the writing software each day, according to the San Francisco-based company.

With an aim to make maths learning more visual and interactive, edtech unicorn Byju's announced that it has acquired Austria-headquartered GeoGebra for an undisclosed sum.
About GeoGebra
Eight-year-old GeoGebra operates an interactive and collaborative mathematics learning tool and reaches over 100 million students across more than 195 countries and territories.
GeoGebra will continue to operate as an independent unit within the Byju’s group under the leadership of its Founder and Developer, Markus Hohenwarter.
According to reports, the value of the transaction is about $100 million. 
Unstoppable Byju's 
GeoGebra is the latest in a series of about 10 purchases Byju’s has made this year as it looks to fill the whitespaces in its offerings. The Bangalore-headquartered startup has this year acquired Tynker, Scholr, Aakash Institute, Hashlearn, Epic, Great Learning and Gradeup, among others, for over $2 billion in cash and equity deals.

Byju's rakes up 10th acquisition for the year, GeoGebra joins the Byju's bouquet

Adding a new buyout to it's Byju's adds the 10th buy for this year. 

Byju's buys another company

Austria-headquartered GeoGebra. The Austrian company has a dynamic, interactive and collaborative mathematics learning tool

How can the year end without Byju's&nbsp;making yet another acquisition. The edtech&nbsp;giant has acquired&nbsp;Austria-headquartered GeoGebra&nbsp;reportedly for $100 million.&nbsp;
About&nbsp;GeoGebra
Eight-year-old&nbsp;GeoGebra&nbsp;operates an interactive and collaborative mathematics learning tool and reaches over 100 million students across more than 195 countries and territories.
Unstoppable Byju's&nbsp;
The Bangalore-headquartered startup has this year&nbsp;acquired Tynker, Scholr,&nbsp;Aakash Institute, Hashlearn,&nbsp;Epic, Great Learning and Gradeup, among others, for over $2.5 billion in cash and equity deals.

Byju&nbsp;Raveendran, founder of India's most valued startup&nbsp;BYJU's, is now&nbsp;richer than veteran markets investor Rakesh&nbsp;Jhunjhunwala and Anand&nbsp;Mahindra.
Byju Raveendran &amp; family&rsquo;s wealth stood at Rs 24,300 crore, according to the IIFL Wealth Hurun India Rich List 2021. This makes them the 67th richest Indians.
The wealth of the family has grown 19 percent this year. Since 2017, Raveendran has climbed 504 ranks, the most by anyone on the list.
Rakesh Jhunjhunwala &amp; family's wealth stood at Rs 22,300 crore, Anand Mahindra &amp; family's at Rs 22,000 crore and Nandan Nilekani &amp; family&rsquo;s wealth at Rs 20,900 crore, according to the list.

Byju's founder is now richer than Rakesh Jhunjhunwala, Anand Mahindra

Studying Pays! This startup founder is richer than Rakesh Jhunjhunwala, Anand Mahindra

This Indian entrepreneur is now richer than Rakesh Jhunjhunwala, Anand Mahindra

Byju Raveendran &amp; family&rsquo;s wealth stood at Rs 24,300 crore

Byju&nbsp;Raveendran, founder of India's most valued startup&nbsp;BYJU's, is now&nbsp;richer than veteran markets investor Rakesh&nbsp;Jhunjhunwala and Anand&nbsp;Mahindra.
Byju Raveendran &amp; family&rsquo;s wealth stood at Rs 24,300 crore, according to the IIFL Wealth Hurun India Rich List 2021. This makes them the 67th richest Indians.
The wealth of the family has grown 19 percent this year. Since 2017, Raveendran has climbed 504 ranks, the most by anyone on the list.
Rakesh Jhunjhunwala &amp; family's wealth stood at Rs 22,300 crore, Anand Mahindra &amp; family's at Rs 22,000 crore and Nandan Nilekani &amp; family&rsquo;s wealth at Rs 20,900 crore, according to the list.

Days after buying&nbsp;US-based reading platform-&nbsp;Epic,&nbsp;Edtech giant Byju&rsquo;s has now completed the acquisition of two edtech start-ups Toppr and Great Learning.
With this, Byju&rsquo;s has acquired six startups in 2021, across India and the US.
According to the reports,&nbsp;Byju's allotted preference shares worth over Rs 730 crore to existing shareholders of Great Learning, while it allotted shares worth over Rs 425 crore to shareholders of Toppr.
Seven-year-old, Great Learning offers various programmes in data science, artificial intelligence, machine learning, cloud computing, among others.&nbsp;Toppr offers online courses for kindergarten to 12 (K-12) students.
Byju's has been on an acquisition spree for some time now. It has acquired Aakash Educational Services, WhiteHat Jr and Osmo. Last week, the company announced acquisition of California-based reading platform Epic for $500 million to expand its footprints across the US market.

Unstoppable Byju’s; India's most valuable startup acquires Toppr and Great Learning 

India's most valuable startup&nbsp;Byju's&nbsp;is unstoppable! Acquires&nbsp;Toppr and Great Learning, why is the edtech giant lapping up companies?

New students in classroom: Byju’s acquires Toppr and Great Learning

<ul>
<li>Bangalore-based edtech, Byju's&nbsp;buys&nbsp;Toppr,&nbsp;Great Learning</li>
<li>Byju&rsquo;s&nbsp;acquired six startups in 2021, across India, US</li>
<li>Edtech to spend ₹730 cr to buy&nbsp;Great Learning,&nbsp;₹425 cr&nbsp;for Toppr</li>
<li>Toppr offers online courses for kindergarten to 12 students</li>
</ul>

With this, Byju&rsquo;s has acquired six startups in 2021, across India and the US.

Days after buying&nbsp;US-based reading platform-&nbsp;Epic,&nbsp;Edtech giant Byju&rsquo;s has now completed the acquisition of two edtech start-ups Toppr and Great Learning.
With this, Byju&rsquo;s has acquired six startups in 2021, across India and the US.
According to the reports,&nbsp;Byju's allotted preference shares worth over Rs 730 crore to existing shareholders of Great Learning, while it allotted shares worth over Rs 425 crore to shareholders of Toppr.
Seven-year-old, Great Learning offers various programmes in data science, artificial intelligence, machine learning, cloud computing, among others.&nbsp;Toppr offers online courses for kindergarten to 12 (K-12) students.
Byju's has been on an acquisition spree for some time now. It has acquired Aakash Educational Services, WhiteHat Jr and Osmo. Last week, the company announced acquisition of California-based reading platform Epic for $500 million to expand its footprints across the US market. Read/Watch Also: <a href="https://www.edtr.ai/9yy0">China plays spoilsport for edtech</a>

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