Byju's Faces Flak Over 'Incorrect' India Map Showing 'Azad Kashmir', Issues Clarification

Delicke

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posted on 2 years ago — updated on 1 second ago

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Byju's said in an official statement that the map was a 'fake image' and not '[their] material'.

Ed-tech company Byju’s got flak on Twitter for a fake image, prompting the company to come out with a clarification. The image in question is an Indian map depicting “Azad Kashmir”. Byju’s said in an official statement that it was a “fake image” and not “[their] material”. “All our content is watermarked and additionally our logo usage is incorrect, we never use an underline below the logo,” the statement adds.

The Byju Raveendran-led unicorn also condemned the “incorrect map of India” and said that it was being circulated with malicious intent after placing the incorrect logo on it. Moreover, the company added that they would be reporting the incident so that it could be further investigated.

The company also said that the material distributed by them is in keeping with multiple accreditation boards at the national level.

https://t.co/QSip4KmtuWIt's not.
— पुणे का गुज्जू ।। पुण्याचा गुज्जू ।। Puneri Gujju (@Puneri_Gujju) October 9, 2022

A Moneycontrol exclusive report in June stated that Byju’s, currently valued at $22 billion, laid off over 2,500 employees across its group companies as the company was looking to aggressively cut costs with demand for ed-tech services moderating after two consecutive years of hypergrowth.

Byju’s plans to raise Rs 3900 crore, which is roughly equal to $500 million in a fresh round of funding within a week, a report quoting sources privy to the development said last month. This will be done at a valuation of around $23 billion. The company is planning to use the funding for acquisition in the US, said the report. The company is in discussion with Abu Dhabi’s Sovereign Wealth Funds (SWF) and Qatar Investment Authority (QIA) for raising in the range of $400-500 million and $250-350 million, respectively.

“Byju’s is in an advanced stage of discussion with some investors. The company is likely to raise over $500 million in about a week. The transaction is expected to be closed at a valuation of around $23 billion,” one of the sources, who did not wish to be named, was quoted as saying by news agency PTI.

Byju’s refused to comment on the report.

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