BENGALURU/NEW DELHI : The insolvency of Indian education technology company Byju’s threatens to be the biggest upset in a celebrated startup sector, unleashing a long battle by thousands of panic-stricken employees to recover dues and protect their careers.
Once a darling of global investors, valued at $22 billion in 2022, Byju’s became popular by offering online training courses during the COVID-19 pandemic, but is now locked in a dispute with U.S. lenders seeking $1 billion in unpaid dues.
Reuters interviews with dozens of its employees, parents of students and a review of WhatsApp chats show a growing sense of desperation as people plan to take the offensive against the company whose board stands suspended with assets frozen.
“A lot…
