Byju Raveendran writes about the ‘storm’ Byju’s survived in 2022
2 years, 3 months ago

Byju Raveendran writes about the ‘storm’ Byju’s survived in 2022

Live Mint  

Byju Raveendran summarised his feelings on the year 2022 by using a passage from the 2002 book Kafka on the Shore by Japanese author Haruki Murakami. That’s what this storm’s all about.” Byju's founder sent a year-end email to his staff members. However, the company broke records in terms of ambition and execution, creating India's largest physical distribution networks for educational goods and services for K–12 and test-prep, by a wide margin. The email stated that, while Byju's saw consistent growth for the first six years, the edtech company experienced exponential growth over the following four years, from 2017 to 2021.

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History of this topic

Byju Raveendran's net worth is now zero from 17,545 crore in 2023: What happened?
11 months, 3 weeks ago

Byju Raveendran's net worth is now zero from 17,545 crore in 2023: What happened?

Hindustan Times  

Edtech company Byju's founder Byju Raveendran saw his wealth vanish, as per the latest Forbes Billionaire Index. Previously listed with a net worth of ₹17,545 crore, Byju Raveendran's worth in the 2024 Index shows him at zero amid challenges faced by Byju's which once had a peak valuation of $22 billion. Forbes noted, “Only four people from last year's list …

Byju’s woes shows failure to adjust to post-covid reality
1 year, 1 month ago

Byju’s woes shows failure to adjust to post-covid reality

New Indian Express  

Troubled edtech firm Byju’s has been thrown a lifeline by disgruntled investors who have so far pledged to contribute $300 million to allow it to continue operations. The rights issue, expected to close by the end of the month, has valued the company at $200-250 million—a meltdown of about 95 percent from Byju’s peak valuation of $22 billion. Byju’s has …

Byju's crisis explained: Why edtech firm, once valued at $22 bn, is witnessing financial downfall
1 year, 1 month ago

Byju's crisis explained: Why edtech firm, once valued at $22 bn, is witnessing financial downfall

Hindustan Times  

Ed-tech company Byju's has been grappling with a financial crisis, and in their latest move, the shareholders of the company have moved a resolution seeking the ouster of the founders from top leadership roles, including CEO Byju Raveendran. US-based investment firm Redwood cut a loan of $1.2 billion to Byju's in November 2021, but the ed-tech firm failed to make …

Byju's crisis: Investors seek ouster of founders, want to fire CEO Byju Raveendran
1 year, 1 month ago

Byju's crisis: Investors seek ouster of founders, want to fire CEO Byju Raveendran

Hindustan Times  

As many as six shareholders of Byju's parent company Think and Learn Private Limited have now moved a resolution to oust the founders from having control over the ed-tech firm in the midst of the financial crisis, reported PTI citing sources. In an extraordinary general meeting, the investors of Byju's have urged the consideration to oust all the founders from …

Byju’s no longer Unicorn; valuation falls 99% to $230mn
1 year, 2 months ago

Byju’s no longer Unicorn; valuation falls 99% to $230mn

New Indian Express  

BENGALURU: Edtech firm Byju’s will raise $200 million by way of a rights issue to achieve operational sustainability. This raising of funds through a rights issue comes at a time when the company has been struggling for the past 21 months to raise external capital. Byju Raveendran, founder of Byju’s said, “The funds raised will be exclusively utilized to clear …

Byju’s targets to be profitable by March 2024, may layoff 3,000-3,500 workforce
1 year, 5 months ago

Byju’s targets to be profitable by March 2024, may layoff 3,000-3,500 workforce

Live Mint  

On account of consolidation and restructuring of the organization and settlement on a $1.2 billion loan, edtech major BYJU'S has set the target to become profitable by March 2024, reported news agency PTI citing sources. "Think and Learn Private Ltd restructuring will see the current operations spread across several business units streamlined into four core areas of K-12, test prep, …

Byju Raveendran 2nd-richest entrepreneur in global edu sector: Hurun report
2 years ago

Byju Raveendran 2nd-richest entrepreneur in global edu sector: Hurun report

Live Mint  

Edtech major BYJU's founder Byju Raveendran has become the second-richest entrepreneur in the global education sector, showed M3M Hurun Global Rich List 2023 released on Wednesday. As per the report, Byju Raveendran and his family are ranked 994th on the global list of Indian billionaires, having risen 1,005 positions in the past three years with a fortune of $3.3 billion. …

Byju Raveendran pens emotional farewell note to sacked staff
2 years, 4 months ago

Byju Raveendran pens emotional farewell note to sacked staff

Live Mint  

Edtech unicorn Byju’s founder sought forgiveness from the 2,500 employees who are in the process of being fired by the edtech, as it pursues a plan to achieve profitability by the end of FY23. We are having to part ways with 2500 of our colleagues,” chief executive and founder Byju Raveendran wrote in an internal letter to employees on Monday. …

Byju’s to fire 2,500 employees in next six months as it chalks out plan to become profitable
2 years, 5 months ago

Byju’s to fire 2,500 employees in next six months as it chalks out plan to become profitable

Firstpost  

Byju’s co-founder Divya Gokulnath told PTI that the company will start focussing on building brand awareness overseas through new partnerships and hire 10,000 teachers for India and overseas business New Delhi: Edtech major Byju’s has chalked out a plan to become profitable by March 2023 to optimise its marketing and operational cost, which will lead to retrenchment of 5 per …

Byju’s to fire 2,500 staff, designs mega plan to turn profitable by March 2023
2 years, 5 months ago

Byju’s to fire 2,500 staff, designs mega plan to turn profitable by March 2023

Live Mint  

Byju's announced on October 12 that it had planns to turn profitable by March 2023. In September, due to rising promotion and labour costs, The Tiger Global-backed edtech company recorded a loss of ₹4,588 crore for the 2021 fiscal year. Byju's has developed a plan to reduce its marketing and operating costs in order to turn a profit by March …

BYJU’s extends the iconic India Cricket Team sponsorship
2 years, 9 months ago

BYJU’s extends the iconic India Cricket Team sponsorship

Live Mint  

Bengaluru: BYJU'S, one of the world's biggest edutech brands will continue to be on one of the world's most sought-after patches of sporting real estate - the space on the front of the India cricket team's jersey. BYJU'S - a natural fit considering how much overlap there is between the prime cricket-watching audience and their target audience - was brought …

Byju Raveendran Now 3rd Richest Eduction Entrepreneur in the World. Know His Inspiring Story
3 years ago

Byju Raveendran Now 3rd Richest Eduction Entrepreneur in the World. Know His Inspiring Story

News 18  

Hurun Global Rich List 2022: Jumping 916 ranks over the last two years and with a wealth of US$3.3 billion, Byju Raveendran and family have been ranked as the 3rd third richest entrepreneur from the education sector in the world. This year, Byju’s acquired Aakash Educational Services for US$1bn, acquired Great Learning for US$600mn, and acquired US-based digital reading platform …

ICC announces BYJU'S as global partner until 2023
4 years, 1 month ago

ICC announces BYJU'S as global partner until 2023

India TV News  

The International Cricket Council has announced Indian edu-tech company BYJU'S as its global partner from 2021 to 2023. The three-year agreement will see BYJU'S partner all ICC events over the period, including the forthcoming men's T20 World Cup in India and the women's World Cup in New Zealand. As a global partner, BYJU's will have extensive in-venue, broadcast, and digital …

Edtech Firm Byju’s Valuation Surges After It Receives $200 Million Fresh Investment
4 years, 4 months ago

Edtech Firm Byju’s Valuation Surges After It Receives $200 Million Fresh Investment

ABP News  

As online education has gained tremendous pace owing to pandemic with schools remaining shut for almost a year now, it has only led to the growth of businesses in the edtech space. On of the major players in the field, Byju's has raised $200 million in a fresh funding round from private equity players BlackRock and T. Rowe Price. The …

37-year-old BYJU's CEO Becomes India’s Newest Billionaire
5 years, 8 months ago

37-year-old BYJU's CEO Becomes India’s Newest Billionaire

News 18  

The online teaching app BYJU has been earning several accolades recently. After reports of BYJU officially replacing OPPO on Team India’s cricket jerseys, the much popular teaching app has another reason to rejoice. As per reports, Byju Raveendran, the CEO of BJYU, has joined the club of Indian billionaires, becoming the newest billionaire in the list. A Reuters report also …

Byju's valuation soars by $2 bn to $5.5 bn in ongoing Series F funding round; raises Rs 3,159 cr so far
5 years, 8 months ago

Byju's valuation soars by $2 bn to $5.5 bn in ongoing Series F funding round; raises Rs 3,159 cr so far

Firstpost  

The valuation of Byju’s, India’s most valued ed-tech startup, has reportedly touched $5.5 billion as a result of the ongoing funding round, said media reports. The Bengaluru-based startup’s valuation reportedly soared by $2 billion to $5.5 billion in the ongoing Series F funding round, a rare development in a single round, as investors clamoured for a piece of Byju’s that …

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