New Delhi: Once India’s biggest edtech company, Byjus has been facing financial problems, layoffs, and management issues for more than a year now. However, fresh investors have shown interest in supporting the business at present. And this has brought relief to the employees, parents, and students who were concerned about the future of this leading company.
According to reports, a group of international investors is in talks with Byjus to offer new funding. If this deal goes through, the company will be able to clear some of its debts and restart its stalled operations. This is important because many of its centres, courses, and services were affected due to lack of money.
The investors are also likely to insist on better financial discipline and management. Several experts say that Byjus grew too rapidly and had not diligently worked on its expense control. It acquired several small startups, invested heavily in marketing, and built large teams. When business grew slower, the company could not bear the strain.
The stability is also expected by the parents who purchased long-term courses. Most of them said they liked the teaching style of Byjus, its animations, and app-based learning, but were worried about customer support and refunds. These issues may finally be resolved if new investors join in.
Byjus says it is working on rebuilding trust. The company plans to focus only on its core learning products instead of expanding too fast. It also wants to offer more affordable plans so middle-class families can continue using the platform.
