Paytm owner Vijay Shekhar Sharma shocked.

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Date: 11-09-2022

By: Himanshu

Nowadays the situation of Edu Tech Startup is very bad since the lockdown opened.

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Almost big companies started showing their employees the way out of the company.

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Many other edutech startups like Unacademy, Byju's had fired their employees in the last one year, thousands of employees.

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The companies behind the removal of the employee say that the growth in the global market is very low.

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Due to which the purchasing power of many people is decreasing.

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Meanwhile, cases of bankruptcy of edtech startup Lido Learning have come to the fore.

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All of a sudden the Lido learning edtech firm had asked its 1,200 employees to resign just a few months back.

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Sources revealed that the company is about to go into bankruptcy process.

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Big investors like Ronnie Screwvala, founder of Upgrade, Vijay Shekhar Sharma, founder of Paytm and Anupam Mittal of Shadi.com had invested money in this startup.

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The main reason for the insolvency of the company, as per Section 10 of the Insolvency and Bankruptcy Code, 2016, is that the company is in default due to its inability to pay its loans.

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This decision has been taken with the consent of all the shareholders. `

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