The spectacular flameout of Byju's

Byju Raveendran set up Think & Learn in 2011, got his first funding in 2013 and launched The Learning App in 2015, which became a case study at Harvard Business School

Byju’s is set to go down as the most spectacular corporate flameout. Little more than a year ago, India boasted five decacorns, an elite group of only 47 startups around the world valued at $10 billion (bn).

Of these, the most valuable Indian decacorn was Byju’s. Despite a loss of Rs 4,588 crore in FY21, Byju’s was valued at $22 bn in early 2022. It even wanted to get itself listed in the US, by merging with a publicly traded shell company in that country, at an eye-popping valuation of $48 bn. It was a huge bubble, propped up by