IIM graduate Karan Bajaj sold WhiteHat Jr. to Byju’s for Rs 2223 crore in 2020. Once valued at Rs 182884 crore, Byju’s drastically lost its valuation over the years and it is now planning to raise funds at a drastic valuation cut of around Rs 2078 crore.
IIM graduates are leading a few of the biggest tech companies in the world. While many IIM graduates secure high-paying jobs right after graduation, a few go on to start their own company. There are also several examples of IIM graduates who worked for multi-billion dollar after graduation before starting a business of their own. One such IIM graduate founded a unique startup and sold it for Rs 2223 crore to a company that lost Rs 180806 crore valuation in the past couple of years. The IIM graduate that we are talking about is entrepreneur and author Karan Bajaj. The IIM alumnus Karan Bajaj is best known as founder of edtech company WhiteHat Jr. which was acquired by Byju’s in 2020. Currently going through massive crises, Byju’s net worth is now surprisingly less than the amount that it paid to acquire Karan Bajaj’s WhiteHat Jr.
For those who are unaware, IIM graduate Karan Bajaj sold WhiteHat Jr. to Byju’s for Rs 2223 crore in 2020. Once valued at Rs 182884 crore, Byju’s drastically lost its valuation over the years and it is now planning to raise funds at a drastic valuation cut of around Rs 2078 crore. While many are surprised by Byju’s plummeting valuation, a few are calling the WhiteHat Jr. deal an incredible win for Karan Bajaj.
Karan Bajaj was brought up in a family with military roots. He has a master's degree in Business Administration from IIM, Bangalore and a B.A diploma in Mechanical Engineering from Birla Institute of Technology, Mesra. Before starting his own company, Bajaj worked at various firms including Procter & Gamble, The Boston Consulting Group and Discovery Networks. He is also author of several popular books including Keep Off The Grass, Johnny Gone Down, The Seeker, The Yoga of Max's Discontent and others.
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