BYJU’s, Zerodha, Funding Winter: Start-Ups, Trends That Made Headlines In 2022

BYJU’S and its
never-ending woes

2022 was a difficult year for BYJU’S. At the beginning of the year, the edtech decacorn was planning its IPO and had huge expansion plans. Towards the end of it, it is struggling to survive

BYJU’S: The curious case
of missing deadlines

BYJU’S troubles started brewing when it released its financial results after missing nearly four deadlines

Trouble mounts for BYJU’S

In September, BYJU’S released its audited results which saw its consolidated losses widen by nearly 20 times to Rs 4,588.75 crore in FY21

BYJU’S becomes a
national debate

Congress MP Karti Chidambaram called BYJU’S accounting practices “irregular” among other things. He even wrote to the ICAI urging its president to investigate the companies’ financial statements

The terrible tale
of the lay-offs

This year also saw several start-ups like BYJU’S, Ola, OYO, Unacademy, Vedantu and others announcing lay-offs, citing market conditions and funding crunch as the reason

Funding winter 

One of the most significant conversations in the start-up ecosystem this year was about funding getting dried up. In November 2022, start-ups raised $3.5 billion, which is 28 per cent less compared to November 2021

Kamath brothers
continue to rise and shine

Besides being among the wealthiest entrepreneurs in the country, Nithin and Nikhil Kamath are among India’s top 10 philanthropists. Their donations jumped 308% to reach Rs 100 crore in FY22, making them the 9th largest individual philanthropists in India, according to the EdelGive Hurun Philanthropy List 2022

Nikhil Kamath’s
investment bets 

In an interaction with Business Today, Nikhil Kamath shared where he would invest Rs 100. He said, “If I had Rs 100, I would invest in NASDAQ, Indian large-cap equity market followed by the private companies.”

Pulling the plug on
IPO plans 

Several Indian start-ups such as Ola, Snapdeal, Droom, PharmEasy, boAt, and others pulled the on their IPO plans citing prevailing market conditions as the reason

What’s next?

All eyes are now on whether 2023 will revive the start-up ecosystem and reduce the woes of this sector

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