Finshots Daily The battle for BYJU’s remains
Nov 18, 2025
Explore the dramatic twists in BYJU’s journey from a $22 billion valuation to insolvency. Learn about the financial missteps, governance issues, and angry creditors pushing for accountability. Despite the ruins, serious players like UpGrad and Manipal are eyeing valuable assets, including Akash and Great Learning. The podcast delves into the motivations behind acquiring distressed assets and the intricate dynamics of the insolvency process. It's a riveting look at the battle over a once-thriving edtech giant.
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Rapid Rise Through Acquisition
- Think and Learn (BYJU'S) grew from a pandemic-era star to a $22 billion valuation through aggressive acquisitions like WhiteHat Jr and Great Learning.
- That rapid expansion relied on a $1.2 billion term loan and led to delayed audits and governance problems that exposed the company’s weaknesses.
When Growth Collides With Governance
- Audit delays, revenue recognition concerns and a massive loss triggered lender demands to call the loan.
- Those governance failures converted growth ambitions into an insolvency battle.
Insolvency As A Clearance Sale
- Insolvency can make valuable assets available at discount even if the parent brand is damaged.
- Buyers focus on high-quality units like Akash and Great Learning rather than rescuing the entire company.