Cryptocurrency Q&A
Is Osmo still in business?
Is Osmo still in business?
SakuraTide
Thu Jun 13 2024
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7 answers
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Could you please clarify for me the current status of Osmo? Is the company still operational and active in the market? Or has there been any recent news or developments that might indicate a change in its business status? I'm particularly interested in understanding whether Osmo continues to provide its services and whether it remains a viable option for those interested in cryptocurrency and finance.
7 answers
ChristopherWilson
Fri Jun 14 2024
The bankruptcy proceedings were a blow to the reputation of Byju's, which had been hailed as a rising star in the edtech industry. The collapse of its financial empire also cast doubt on the sustainability of its business model and the future of its acquisitions, including Osmo.
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DondaejiDelightfulCharmingSmile
Fri Jun 14 2024
In January 2019, Osmo was acquired by Byju's for a sum of $120 million, marking a significant milestone in the educational technology industry. This acquisition signaled the growing importance of innovative learning platforms in the global market.
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Michele
Fri Jun 14 2024
However, the financial fortunes of Byju's took a turn for the worse in early 2024. On January 25th, lenders initiated bankruptcy proceedings against the parent company of Osmo, Byju's, seeking repayment of their loans.
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Daniela
Fri Jun 14 2024
Amidst this financial crisis, the fate of Osmo remained uncertain. As a subsidiary of Byju's, it was potentially vulnerable to the fallout of the bankruptcy proceedings. However, the specific impact on Osmo would depend on the outcome of the legal process and the decisions made by the bankruptcy court.
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CryptoElite
Fri Jun 14 2024
The bankruptcy proceedings revealed the financial challenges facing Byju's, which had expanded rapidly in recent years but failed to maintain a stable financial footing. The situation was particularly dire for the U.S. division of Byju's.
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