Helped by the Covid-19 pandemic boom, Byju's was valued at $22 billion in 2022, making it India's most valuable start-up that year. But the pandemic did not only bring the boom for the company, it also brought with it an increase in interest rates being charged by central banks, and hence also contributed to the fall of Byju's. After the pandemic, central banks increased interest rates significantly and, suddenly, the value of Byju's fell sharply. Currently, the ed-tech firm is valued at $120 million as against $22 billion two years ago. Additionally, Byju's is also fighting legal battles with lenders in the US over a $1.2 billion loan.
Esta historia es de la edición October 21, 2024 de The Free Press Journal.
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