Byju’s, once valued at US$22 billion, is now deemed effectively worthless, according to its founder Byju Raveendran.

Raveendran acknowledged overextending through numerous acquisitions, which backfired when funding dried up in 2022.

The company had aimed to go public in early 2022 with projections as high as US$50 billion, as reported by TechCrunch.

However, its expansion into 40 markets stumbled due to investor anxiety caused by global disruptions from the Ukraine conflict.

Key investors, including Prosus Ventures, Peak XV, and the Chan Zuckerberg Initiative, resigned from Byju’s board last year.

This was due to governance issues, compounded by Deloitte’s departure as auditor.

This led to Byju’s insolvency, and Raveendran admitted the valuation is “worth zero.”