By Admin 
Byju’s Collapsed News: These days, the famous edtech company Byju is surrounded by financial crisis and legal disputes. Byju’s founder Raveendran has been sentenced to six months in jail by a Singapore court. He is accused of not following many orders of the court. The court has also imposed a fine of $70,500 on him.
There was a time when famous football player Lionel Messi became the global ambassador of Byju’s, which shows how big India’s most famous edtech startup had become. The company’s logo appeared on the jersey of the Indian cricket team. Global investors invested billions of dollars in startups. After which Byju Raveendran became one of the biggest faces of India’s startup boom.
What is the whole matter and why was the punishment given?
Actually, this entire matter is related to Raveendran’s properties and ignoring legal orders. According to the Singapore court, Raveendran deliberately ignored financial information related to his assets from April 2024. Due to not following these orders, he was found guilty of contempt of court and was sentenced to six months in jail. Apart from the punishment, the court has also imposed a fine on Raveendran. Instructed to pay 90,000 Singapore dollars (about 70,500 US dollars) as legal expenses.
Byju Raveendran: Byju’s founder Raveendran gets 6 months jail, but why? Was once a billionaire, now net worth is 0
There was once a ‘Taj’ on the head of the company
The year 2011 was when the company laid its foundation as Think and Learn Private Limited. Byju’s grew rapidly by taking advantage of the huge demand for education and preparation for competitive exams in India. The time was also absolutely favourable. While smartphones were expanding in India and online education became mainstream, the company positioned itself as the future of education.
The matter is of the year 2020. When the whole world was struggling with the Corona epidemic, schools were closed, students started studying online and there was a huge surge in the demand for digital education. Investors immediately invested and Byju expanded on a large scale in India and international markets.
According to the data, the company acquired many firms including Aakash Educational Services, Great Learning and Epic, whose deals were usually worth around $3 billion. After which the total valuation of Byju’s will cross $22 billion in the year 2022. The company ran large-scale advertising campaigns, collaborated with celebrities, and Raveendran won the title of the world’s new tech billionaire.
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