India’s Byju’s lost more than $20 billion in valuation — what went wrong with the startup darling?

Byju’s, once India’s most valuable startup, has seen a sharp reversal in its fortunes after a series of setbacks, including alleged accounting irregularities and purported mismanagement. Valued at $22 billion in 2022, the Indian edtech startup’s valuation has since plummeted 95% after investors cut their stakes in multiple rounds. It was most recently slashed to $1 billion, after BlackRock downsized its holdings in Byju’s last month, according to media reports.