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From Billions to Bust: The Fall of India's Edtech Giant Byju's

10 June 2024


Zahid Mohammadi


India's startup scene has been rocked by the news that Byju's, once the nation's most valuable startup with a staggering $22 billion valuation, is now considered worthless according to a recent HSBC research note. This marks a spectacular fall from grace for the edtech giant, capping off a tumultuous year.

Byju's woes aren't isolated. LoanSnap, a promising AI-powered mortgage startup that recently secured $100 million in funding, is facing a barrage of lawsuits and eviction from its headquarters. Creditors, including Wells Fargo, allege millions owed, leaving employees anxious about the company's future.

Further dampening the entrepreneurial spirit, a recent appeals court ruling has sparked outrage. The Fearless Fund, dedicated to supporting Black women business owners through grants, has been restricted from doing so. Diversity advocates within the startup and venture capital space are calling for a swift reversal of this decision.