{"id":834933,"date":"2024-07-20T09:50:57","date_gmt":"2024-07-20T04:20:57","guid":{"rendered":"https:\/\/telecomlive.in\/web\/?p=834933"},"modified":"2024-07-20T10:05:22","modified_gmt":"2024-07-20T04:35:22","slug":"insolvency-proceedings-will-force-edtech-major-byjus-to-shut-down-ceo","status":"publish","type":"post","link":"https:\/\/telecomlive.in\/web\/2024\/07\/20\/insolvency-proceedings-will-force-edtech-major-byjus-to-shut-down-ceo\/","title":{"rendered":"Insolvency proceedings will force edtech major Byju&#8217;s to shut down: CEO"},"content":{"rendered":"<p>Insolvency proceedings against ed-tech giant Byju&#8217;s, once India&#8217;s biggest startup valued at $22 billion, will likely force thousands of employees to quit and result in a total shutdown of its services, its CEO said in a court filing seen by Reuters. <\/p>\n<p>Byju&#8217;s, backed by investors like Prosus and General Atlantic, has suffered numerous setbacks in recent months, including job cuts, a collapse in its valuation and a tussle with investors who accused CEO Byju Raveendran of corporate governance lapses. Byju&#8217;s has denied any wrongdoing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Insolvency proceedings against ed-tech giant Byju&#8217;s, once India&#8217;s biggest startup valued at $22 billion, will likely force thousands of employees to quit and result in a total shutdown of its services, its CEO said in a court filing seen by Reuters. Byju&#8217;s, backed by investors like Prosus and General Atlantic, has suffered numerous setbacks in recent months, including job cuts, a collapse in its valuation and a tussle with investors who accused CEO Byju Raveendran of corporate governance lapses. Byju&#8217;s has denied any wrongdoing.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9,34,4],"tags":[],"class_list":["post-834933","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-it-2-business-standard-newspapers","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/834933","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=834933"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/834933\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=834933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=834933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=834933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}