Author: Byju's

Byju’s launched in 2011 as an offline coaching center, pivoting to an app-based model in 2015. The company scaled aggressively during the pandemic, raising over $5B from investors like Prosus, Sequoia, and BlackRock to fuel acquisitions (Aakash, Great Learning, Epic). In November 2021, Byju's raised a $1.2B Term Loan B (TLB) to fund international expansion. This debt became toxic when growth slowed in 2022. By 2023, the company breached covenants, the auditor (Deloitte) resigned citing financial opacity, and three key board members quit. The company entered insolvency proceedings in India in 2024. The US proceedings run parallel, focused specifically on the $533M that vanished from the US subsidiary. This judgment marks the final legal severance of the founder's control over the narrative.