The lesson in Byju's rise & fall | World Business Watch | WION

Byju’s, once the poster child of India's booming Edtech industry, is now facing significant financial challenges. According to a recent update from the founders, the company has failed to disburse July salaries due to its bank account not being restored to the founders following a supreme court order. This adds to the growing woes of Byju’s, which says its founders infused close to one billion U.S. Dollars crore over the past 2.5 years just to keep the company operational. Byju Raveendran, the face of the troubled Ed tech platform claims he has personally contributed 1,600 crore rupees out of the 3,976 crores paid as employee salaries in the last two years. This financial burden comes after Raveendran sold stakes worth3,600 crore rupees between 2015 and 2022. #byjus #businessnews #worldnews About Channel: WION The World is One News examines global issues with in-depth analysis. We provide much more than the news of the day. Our aim is to empower people to explore their world. With our Global headquarters in New Delhi, we bring you news on the hour, by the hour. We deliver information that is not biased. We are journalists who are neutral to the core and non-partisan when it comes to world politics. People are tired of biased reportage and we stand for a globalized united world. So for us, the World is truly One. Please keep discussions on this channel clean and respectful and refrain from using racist or sexist slurs and personal insults. Subscribe to our channel at https://goo.gl/JfY3NI Check out our website: http://www.wionews.com Join our WhatsApp Channel: https://bit.ly/455YOQ0 Connect with us on our social media handles: Facebook: https://www.facebook.com/WIONews Twitter: https://twitter.com/WIONews Follow us on Google News for the latest updates Zee News:- https://bit.ly/2Ac5G60 Zee Business:- https://bit.ly/36vI2xa DNA India:- https://bit.ly/2ZDuLRY WION: https://bit.ly/3gnDb5J Zee News Apps: https://bit.ly/ZeeNewsApps