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Byju, an Indian edtech startup that was once valued at $22 billion has now hit a cash crunch so severe that its founder has mortgaged his families homes to raise $12 million for salaries.

This follows an 86% drop in valuation down to $3 billion last month after one of its main investors wrote down its stake.

The company has had multiple recent woes including missed revenue targets, investigations for financial crimes and abrupt exits by its auditor & 3 board members https://www.bloomberg.com/news/articles/2023-12-04/byju-s-founder-pledges-homes-to-raise-funds-for-staff-salaries