Decline and fall of Indian EdTech empire

THE ASPIRATION FOR SOCIAL MOBILITY MADE INDIA A NATURAL HOME FOR A THRIVING EDUCATIONAL TECH BUSINESS

- HT Correspondent

NEW DELHI: India's celebrated education technology company Byju's went from being one of the world's most hyped startups to being sued for fraud in a US court and accused of engaging in unethical, if not illegal, behaviour.

The episode serves as a cautionary tale about the world of startups, venture capital, and the crushing social pressures Indian children and parents face to climb up the social ladder.

Journalist Yudhijit Bhattacharjee documented the story of the rise—and sudden fall—of Byju's and its founder Byju Raveendran in a recent essay for the online magazine Rest of World titled, "The math tutor and the missing $533 million".

Bhattacharjee discussed the dramatic saga on last week's episode of Grand Tamasha, a weekly podcast on Indian politics and policy co-produced by HT and the Carnegie Endowment for International Peace. Bhattacharjee is a contributing writer at The New York Times Magazine, and his writings have also appeared in The New Yorker, National Geographic, Wired, and other leading magazines.