By engaging in a series of acquisitions, BYJU's is taking a risky and expensive gamble.

Acquiring companies isn't just about crunching numbers; it involves merging diverse cultures and fostering chemistry, which takes time. Unfortunately, BYJU’S hurriedly focused on consolidating figures rather than nurturing these vital aspects," said a founder who sold his startup to BYJU’S in 2021.

Between 2017 and 2021, BYJU’S embarked on an aggressive acquisition spree, snapping up 17 startups, a move unprecedented in the Indian startup scene. While companies like Apple have also pursued acquisitions, such as the notable purchase of Beats for $3 billion, their approach differed significantly. Apple's acquisitions, mostly aimed at talent or technology, generally didn't disrupt the company's culture or team dynamics. This contrasts with BYJU’S, where integration challenges arose due to misalignment with the company's culture and business models.

BYJU’S aggressive inorganic growth strategy led to a notable decline in both the parent company and the acquired firms, with many struggling under the weight of immediate management changes and top-down restructuring. Now, several of these acquired companies are poised to be sold off at significantly reduced prices, marking a stark departure from their initial acquisition.

To gain a better understanding, let's trace the evolution of this strategy from its inception.