Remember Byju’s, the Indian education app that seemed unstoppable? Well, things got bumpy! A big bank just said Byju’s shares are basically worthless (worth ZERO dollars!).
This is a big change! Just a few years ago, Byju’s was a rockstar company, valued at a HUGE amount – $22 BILLION! They kept buying other learning companies and even dreamed of going public for even more money!
So, what went wrong?
- Debt Overload: Byju’s went shopping crazy and ended up owing a LOT of money. This became a problem when the economy slowed down.
- Legal Troubles: Byju’s got into fights with lenders and some customers. This made investors nervous about the company.
- Cooling Down Market: The whole online learning industry isn’t as hot as it used to be. Investors are being more careful with their money.
What happens next?
It’s unclear. Byju’s is trying to fix things, but it won’t be easy.
What does this mean for you?
If you use Byju’s, don’t worry right now. They’re still operating. But it might be a good idea to explore other options, just in case.
The Lesson:
Growing fast is cool, but managing your money is even cooler! Byju’s story shows how things can change quickly.