TechCrunch
How India’s most valuable startup ended up being worth nothing
There’s more bad news for Byju’s. In a research note, HSBC estimates that the Indian edtech giant, once valued at $22 billion, is now worth nothing. The write-down in its estimation makes Byju’s one of the most spectacular startup slides in recent memory and follows a very rough year for what was India’s most valuable startup not long ago. After raising $100 million, AI mortgage startup LoanSnap is facing an avalanche of lawsuits and has been evicted from its main office. At least seven creditors, including Wells Fargo, have collectively alleged that the company owes them more than $2 million.
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