REUTERS/Adnan Abidi/File Photo/File PhotoBENGALURU, Aug 7 (Reuters Breakingviews) - Byju’s says it provides learning programs to over 150 million students.
The biggest lesson may be for the Indian education giant’s global investors including Prosus (PRX.AS) and Peak XV, formerly part of Sequoia, who watched founder power run amok in a country they have pinned high hopes on.
But so long as the blowup at the hot startup once valued at $22 billion goes from bad to worse, its backers will struggle to create enough distance.
For early supporter Peak XV Partners, the mess comes at a sensitive time, hot on the heels of announcing a separation from its U.S. parent.
Representatives of the Amsterdam-listed investor and Peak XV Partners, formerly Sequoia’s India unit, both quit Byju’s board in June.
Persons:
Adnan Abidi, Byju Raveendran, Davidson, Byju’s, Reuters Breakingviews, Prosus, Una Galani, Thomas Shum
Organizations:
REUTERS, Reuters, Bloomberg, XV Partners, HK, Thomson
Locations:
New Delhi, India, BENGALURU, Sequoia, U.S, Byju’s, Amsterdam, China, Delaware