Meet the people who once built the ED-Tech company of Rs 183,000 crore and then face bankruptcy, Lost Lost Billionaire Tag Now says…
The company saw exponential growth during the 19th pandemic, reaching a peak valuation of $22 billion (about Rs 183,000 crore in 2022). However, through expensive acquisitions and marketing, active expansion leads to poor financial management.
Byju Raveendran, founder of BYJU’s, attended X on Sunday and expressed optimism about rebuilding its business “Brick by Brick” and promised to rehire former employees once the company restarts.
“Once we restart the company (I believe it will be earlier than expected), we will only retrial from the incredible former Byjuites pool. My over-optimism seems crazy to some. But let’s not forget that you have to be weird to be number one,” Raveendran said earlier.
In 2011, BYJU co-founded Think & Learn Pvt Ltd with his wife Divya Gokulnath to provide innovative learning programs for K-12 students. The company launched the BYJU: Learning App in 2015, which revolutionized education by combining technology with engaging content. By 2022, the app has more than 150 million registered users worldwide. Byju became India’s first Edtech Unicorn in 2018 and expanded internationally to markets such as the United States and the United Kingdom.
Challenges and declines
Byju’s exponential growth during the Covid-19-19 pandemic reached a peak valuation of $22 billion ((around Rs 18.3 crore in 2022). However, through expensive acquisitions and marketing, aggressive expansion and marketing have led to poor financial management. This has led to poor economic management. Regulatory issues and controversies with the competition with investors miscellaneous and intensified in the following salary for 224 years and accumulated $2 of the business.
Who is Byju Raveendran?
Byju was born on January 5, 1980 in the village of Azhikode, Kerala. His father taught physics and his mother taught mathematics. Byju started self-study since childhood, and later completed B.Tech from the Kannur Government Engineering College. Byju started out as a service engineer abroad, and while on vacation in India, he discovered his teaching talent while helping his friends prepare for the cat exam. He himself earned twice the perfect 100% and transitioned to coaching students to take competitive exams. His courses grew rapidly from small groups to stadium-sized audiences, leading to his establishment of Byju’s courses in 2007.
Byju attributes sports to shaping his leadership and confidence. He married Divya Gokulnath, who was also actively involved in the company’s business.
