# Startup Once Valued at $22 Billion, Byju's, Now Worth Nothing! 📉

**URL:** <https://onehack.st/t/startup-once-valued-at-22-billion-byjus-now-worth-nothing/293962>\
**Category:** News & Articles\
**Tags:** privacy, business\
**Created:** [October 18, 2024, 10:57pm UTC](https://onehack.st/t/startup-once-valued-at-22-billion-byjus-now-worth-nothing/293962 "2024-10-18T22:57:24Z")\
**Posts on this page:** 1\
**Page:** 1

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**Author:** ![TheJoker](https://onehack.st/user_avatar/onehack.st/thejoker/32/22660_2.png) [@TheJoker](https://onehack.st/u/TheJoker)\
**Post date:** [October 18, 2024, 10:57pm UTC](https://onehack.st/t/startup-once-valued-at-22-billion-byjus-now-worth-nothing/293962/1 "2024-10-18T22:57:24Z")

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**Summary:**

1. **Dramatic Valuation Drop**  
**Byju Raveendran** , founder of **Byju’s** , revealed that his edtech startup, once valued at **$22 billion** , is now effectively worth **“zero.”**

2. **Mistakes Acknowledged**  
Raveendran admitted to misjudging the market, overestimating growth potential, and making mistakes in the company’s aggressive expansion strategy.

3. **Challenges from Expansion**  
The company’s acquisition of over two dozen startups to broaden its market presence became a burden when financing opportunities dried up in **2022**.

4. **Failed Public Offering Plans**  
Byju’s had planned to go public in early **2022** , with some investment bankers valuing it as high as **$50 billion** , but the situation changed drastically due to external economic factors.

5. **Impact of Global Events**  
Raveendran noted that investor confidence waned after the global markets were affected by **Russia’s invasion of Ukraine** , leading to a significant downturn in the venture capital landscape.

**Read more at:** [TechCrunch](https://techcrunch.com/2024/10/17/byjus-founder-says-his-edtech-startup-once-worth-22b-is-now-worth-zero/)