Another Byjus in Making

https://thearcweb.com/article/byju-raveendran-1-billion-agm-8SWZHKi0REGjA6g4

First the audit report got delayed. Now they’ve reported a loss of over 4.5k cr. And I believe they’re like a mothership of edtech, if they gone down then the entire category goes down from an investment perspective

If founders care more about customer then they don't have to bow infront of VCs. Customer Obsession >> Funding Obsession

30% of engineers will be gone. 50% of higher managenment will be gone. List contains a total of 80 devs/managers/directors/Vp/CTO from Tech team, reducing the Tech Team size to merely 130. How does byjus justify their valuation, when there is no value ?

Link to article - https://techcrunch.com/2024/01/11/blackrock-cuts-byjus-valuation-by-95-to-1-billion/

Byjus Financial FY 22 Results will come out next week and internal news is that Byjus have done around USD 1 Billion revenue and same loss . One more round of layoffs happening soon with so many VPS being shown the door

"BYJU’S grew considerably since our first investment in 2018, but, over time, its reporting and governance structures did not evolve sufficiently for a company of that scale. Despite repeated efforts from our Director, executive leadership at BYJU’S regularly disregarded advice and recommendations relating to strategic, operational, legal, and corporate governance matters. The decision for our Director to step down from the BYJU’S Board was taken after it became clear that he was unable to fulfil his fiduciary duty to serve the long-term interests of the Company and its stakeholders." https://techcrunch.com/2023/07/24/prosus-questions-byjus-governance-says-indian-edtech-regularly-disregarded-advice/?tpcc=tcplustwitter