Ed-tech giant Byju's faces potential shutdown due to insolvency triggered by unpaid $19M sponsorship.
Ed-tech giant Byju's, once valued at $22 billion, faces potential shutdown due to insolvency proceedings triggered by a complaint from the country's cricket board over an unpaid $19 million sponsorship deal. CEO Byju Raveendran stated that the company's insolvency could force thousands of employees to quit and result in a total shutdown of its services. The insolvency process will likely impact vendors providing critical services to Byju's.
July 19, 2024
11 Articles