Byju’s Shares Crash 10% After Founder Breaks Down in Tears

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Byju’s Shares Crash 10% After Founder Breaks Down in Tears

Shares of Byju’s, the Indian ed-tech giant, crashed by more than 10% on Monday after the founder of the company was seen breaking down in tears in a video that went viral.

The video, which was reportedly filmed during a meeting with employees, showed the founder addressing the company’s financial troubles. He said that Byju’s had been hit hard by the economic slowdown and that the company was facing a cash crunch.

The video sparked a sell-off in Byju’s shares, which closed at Rs. 780.50 on the National Stock Exchange, down 10.4% from the previous day’s close.

The fall in Byju’s shares is a sign of the growing financial troubles facing the ed-tech sector. The sector has been hit hard by the economic slowdown and the rising cost of customer acquisition.

A number of ed-tech startups have been forced to lay off employees and cut costs in recent months. Byju’s has not announced any layoffs, but the company is reportedly looking to raise fresh capital to shore up its finances.

The fall in Byju’s shares is also a blow to the image of the company, which was once seen as one of the most successful startups in India. The video of the founder breaking down in tears has raised questions about the company’s management and its ability to weather the current economic storm.

It remains to be seen how the fall in Byju’s shares will impact the company’s future. However, the sell-off is a clear sign that investors are losing confidence in the ed-tech sector.

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