Sour grapes was my first thought after Bengaluru ed-tech giant Byju’s announced one morning this January that it has raised yet another round of funding at a valuation of $8 billion — up from its last valuation of $5.3 billion in July 2019 — and all other industry players I spoke to appeared dismissive. How does a company increase its valuation by $2.7 billion in a matter of five months? How was that even possible? How many Fortune 500 companies had managed such a feat?
Ed-tech players argued that the valuation increase was “absurd”, far in excess of the actual value
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