Skyeng refuses to buy StudyFree startup it owes to employees

According to Ainetdinov, Skyeng has been following the development of StudyFree for several years and considers it a valuable asset. Negotiations on the possible purchase of StudyFree assets in Russia and the CIS began in November-December 2022.

In mid-February, Skyeng’s board of directors backed out of the deal. Skyeng’s CEO explained that the company underestimated investments in the development of StudyFree at first. He declined to disclose the amount of investment needed and other details.

Daria Kroshkina also confirmed to the publication that the deal did not go through.

• At the end of 2022, it became known that the StudyFree startup, which helps to enter foreign universities, has not paid salaries to employees since March and is allegedly on the verge of bankruptcy.
• At the beginning of 2023, the founder of StudyFree, Daria Kroshkina, explained to RB.RU the situation of employee back pay. According to her, there were difficulties in the project throughout 2022, they arose as a result of sanctions company – StudyFree with a founder from Russia and 70% of the income from there is registered in the United States.
• According to Ainetdinov, the parties discussed “the partial payment of StudyFree’s debt to employees and the coverage of returns to customers.” At the time of the start of negotiations, the startup owed around $100,000. to their former employees. StudyFree has also racked up debts with clients and contractors.