At the heart of the matter lies a less-than-perfect way to calculate revenue.
Last week, I wrote about a loan crisis that has been brewing for a while at Byju’s, India’s largest edtech company valued north of $22 billion. I discovered several cases where parents bought Byju’s products on loan and ended up cancelling them. EMIs are being paid without the knowledge of parents who are still getting regular calls for defaulting on their loans (read “At Byju’s, a loan crisis and no sign of funding”).
The news took readers and several people inside the company by surprise. But that’s how Byju’s works. Data is handled closely. The lack of transparency …
Pradip is a co-founder at The Morning Context and leads our newsletters vertical. He has previously worked at The Ken as a staff writer, at Mint as an assistant features editor and the Deccan Chronicle as a copy editor. He works with a slew of expert newsletter writers across subjects and domains. His own writing spans the gig economy, farmers caught in the crossfire of technology, global warming and parents trapped in the edtech wave. Some of his best stories have come at the intersection of technology and human endeavour.
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