Byju Raveendran, the founder of the embattled edtech group Byju’s, acknowledged on Thursday afternoon that he made mistakes, mistimed the market, overestimated growth potential and that his startup, once valued at $ 22 billion, is now effectively worth “zero.” Speaking to a group of journalists, Raveendran said the company’s aggressive acquisition of more than two […]
Coke Zero Sugar 400 wreck: Playoff race shakes up as Denny Hamlin, Chase Elliott among drivers knocked out in multi-car collision
‘The Big One’ loomed for all who graced the famous asphalt of Daytona International Speedway during Saturday’s Coke Zero Sugar 400. Partway through Stage 2, it went from a mere ideology into a tangible reality for more than a quarter of the Cup Series field. A 20-car wreck swept across Daytona’s iconic grounds, knocking out […]
Courtland Sutton has zero leverage in contract dispute with Denver Broncos
Courtland Sutton showed up to Denver Broncos minicamp on Tuesday and said all the right things, but anyone with the right representation knows what to say. Reading between his words, he doesn’t sound like a guy who wants to be on this team. Sutton is looking for a bit of a pay increase from the […]
BlackRock has slashed the value of stake in Byju’s, once worth $22 billion, to zero
BlackRock, an investor in Byju’s, estimates that its stake of Indian edtech giant, once valued at $ 22 billion, is now worth nothing. The write-down in its estimations, disclosed in an SEC filing, makes Byju’s one of the most spectacular startup slides in recent memory. BlackRock’s disclosure for the period ending March this year follows […]
HSBC believes that $22 billion Byju’s is now worth zero
In a research note, HSBC estimates that the Indian edtech giant Byju’s, once valued at $ 22 billion, is now worth nothing. The write-down in its estimation makes Byju’s one of the most spectacular startup slides in recent memory. It follows a very rough year for the Bengaluru-based startup, which was India’s most valuable not […]