Ravindran Plan to Relaunch Byju

Ravindran Plan to Relaunch Byju Amidst Financial Challenges

by
      
                    WhatsApp Group                             Join Now            
   
                    Telegram Group                             Join Now            
   

Ravindran Plan to Relaunch Byju: The popular name of the old-time top edutake, Byju has once again come into discussion. Byju Ravindran, the founder of debt-ridden edtech company Byju’s, has said that he will relaunch the company soon. Ravindran shared his old photo in a post on the social media platform X and wrote, ‘We were broken, but not broken. We will rise again. I remember the sparkle in the eyes of my students.’

Ravindran Plan to Relaunch Byju
Ravindran Plan to Relaunch Byju

Ravindran Plan to Relaunch Byju

At one time Byju’s was the largest edtech startup in the country. By 2022, its value was $22 billion i.e., about Rs 1.88 lakh crore, but due to financial mismanagement and other problems, the company’s net worth became zero in 2024. Ravindran has been out of the country since 2023, and he said he went to Dubai for his father’s treatment and not to escape.

Ravindran Plan to Relaunch Byju: Byju Said 3 Big Things…

  • Once again when we relaunch our company, which I think will happen sooner than expected – we will especially hire our old people. My being over-optimistic may seem crazy to some people, but don’t forget that to become number one you have to be different and weird.
  • Nothing is ever as good as it seems, nor as bad as you’ve been led to believe. The truth is usually somewhere in between. That’s why I’m here to talk about the last 20 years- the good 17, the bad 2 and the ugly 1, no filter, just the facts.
  • In 9 years, we hired 2.15 lakh graduates. Everyone was given a minimum salary of Rs 6 lakh without any discrimination based on experience and academic background. Giving these youngsters their first chance in their career has been the biggest honour of my life.

Byju’s rise story In 2011, Ravindran started Byju’s as a small education platform. It started with coaching classes, but it grew rapidly with the launch of the app in 2015. Interactive learning for children, easy language and use of technology became its specialty.

The  pandemic  of covid in 2020-21 increased the demand for online education and Byju’s took full advantage of it. Aggressive marketing (brand ambassadors like Shah Rukh Khan) and acquisitions (companies like WhiteHat Jr, Aakash) led it to a valuation of $22 billion by 2022, making it India’s most valuable startup.

Beginning of Decline

After 2022, Byju’s started losing its shine. The huge debt taken for aggressive expansion and acquisitions became a burden on the company. Financial reports were delayed, and a loss of ₹8,245 crore was revealed in 2021-22. Investors raised questions on transparency. The company was accused of aggressive sales tactics and not giving refunds, which broke the trust of customers.

Ravindran Plan to Relaunch Byju: Down phase of Byju’s

By 2023, things got worse. The Enforcement Directorate (ED) began investigating FEMA violations. Board members and auditor Deloitte resigned. US lenders sought bankruptcy. Employees were fired. Byju’s valuation fell sharply.

Towards the end: Byju’s valuation will drop to zero by 2024. Legal battles, mountains of debt and instability in operations have sunk it. It is currently undergoing bankruptcy proceedings.

Leave a Comment