India's Byju's lost more than $20 billion in valuation — what went wrong with the startup darling?

Edtech giant Byju’s, once India’s most valuable startup, has experienced a significant decline in its fortunes. The company’s valuation has plummeted 95% after investors reduced their stakes. Byju’s, which offers online tutorials and offline coaching, attracted substantial investments during the Covid-19 pandemic. However, the company has faced setbacks, including alleged accounting irregularities and purported mismanagement. Shareholders, including Prosus, voted to remove Byju Raveendran as CEO. Byju’s rejected the resolutions, claiming the meeting was invalid. The company has struggled with financial issues, including loan repayment and staff salaries. Byju’s U.S. unit filed for bankruptcy.