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BYJU’S Founder Reveals Revival Plan, Addresses Financial Collapse

Byju Raveendran defends his reputation, blames 'vulture lenders,' and outlines BYJU’S 3.0 vision to rebuild the edtech giant.

Byju Raveendran spoke about the struggles in an interview.
Byju Raveendran had declared Byju's valuation at zero, citing financial crises and investor withdrawals.
BYJU'S founder Raveendran acknowledged that alternative options were available and the loan ultimately contributed to BYJU'S financial challenges.
‘We built in India, paid taxes in India’: Byju Raveendran hits back at ‘fugitive’ claims

Overview

  • Byju Raveendran attributed BYJU’S financial collapse to aggressive expansion, a $1.2 billion term loan, and external macroeconomic shocks, including the Russia-Ukraine war and Fed rate hikes.
  • He acknowledged business mistakes, including rapid global expansion into 21 countries under investor pressure, and described the term loan decision as a critical error.
  • Raveendran accused US-based hedge funds of orchestrating a campaign to seize control of the company, calling them 'vulture lenders,' and denied allegations labeling him a 'fugitive.'
  • The founder apologized to students impacted by service disruptions and pledged to compensate them, emphasizing the company's commitment to education.
  • Raveendran unveiled plans for BYJU’S 3.0, focusing on AI integration to support teachers, enhancing student learning, and returning to its educational mission.