Byju’s forced to sell Epic and Tynker in distressed deal

Facing severe financial pressure, edtech giant Byju's has been forced to sell two of its international assets, Epic and Tynker, in a distressed deal. Epic is a US-based digital reading platform for kids, and Tynker is a coding platform. These sales are part of Byju's efforts to raise capital to address its liquidity crisis and meet its debt obligations. The assets were acquired during Byju's aggressive expansion phase but are now being sold off at what is likely a significantly lower valuation than their purchase price. This move highlights the dramatic reversal of fortunes for the once high-flying startup. The distressed sale underscores the company's urgent need for cash and is a key component of its ongoing restructuring plan, which aims to streamline operations, cut costs, and focus on its core business in India to navigate its current financial challenges.