Byju Raveendran has been out of India since late 2023, a period that predates the growing challenges faced by BYJU’S, including conflicts with investors, escalating debts, and a significant financial downturn.
Byju Raveendran, the founder of the prominent edtech company Byju’s, has pledged to revitalize his company after facing challenges, emphasizing that these setbacks will not dictate its future. In a post on X, Raveendran shared a nostalgic photo of himself, stating, “Broke, not broken. We will rise again.” His words reflect a strong commitment to overcoming adversity and rebuilding the company.
The startup, which reached a remarkable valuation of $22 billion in 2022, has experienced a significant decline due to financial difficulties, regulatory challenges, and ongoing legal disputes with investors. Byju Raveendran has been out of India since late 2023, well before BYJU’S began facing the pressures of conflicts with investors, growing debts, and a financial crisis.
Raveendran, who became a part of X in March, reflected on the company’s two-decade-long journey. “Nothing is ever as perfect as it appears, nor as terrible as it may seem. The truth is often somewhere in the middle. I’m here to share the story of the last 20 years: 17 years of success, 2 years of challenges, and 1 year of struggles. No embellishments, just the facts,” the founder shared in a post.
He discussed Byju’s impact on shaping young professionals, highlighting that the company hired 215,000 fresh graduates over nine years, providing them with a guaranteed minimum salary of Rs 6 lakh, irrespective of their prior experience or academic qualifications. “Byju’s was built by these 200,000 freshers who brought with them immense talent and boundless energy. They went on to become valuable contributors to our economy. Many became entrepreneurs, creating job opportunities for themselves. What they needed was just that first crucial opportunity,” he explained.
Byju Raveendran Hints at Comeback, Plans to Rehire Former Employees
Byju Raveendran recently shared an optimistic update about the company’s future. In a post on X (formerly Twitter), he expressed confidence about a relaunch happening sooner than many expect. He mentioned that when the company resumes operations, it will look to bring back its former team members. “We will rehire exclusively from our incredible pool of former BYJUites,” he said. Reflecting on his passionate outlook, he added, “You have to be odd to be number one,” reinforcing his belief in the company’s potential.
In October 2024, Byju Raveendran addressed the public regarding his shift to Dubai, aiming to clear up circulating misconceptions. He explained that the move was driven by personal reasons, primarily to support his father’s medical treatment, and not to evade any situation. “I did not run away,” he firmly stated during a virtual press briefing. Raveendran also spoke candidly about the challenges faced by his edtech venture, attributing some of the setbacks to decisions made by investors. He affirmed his commitment to steering the company toward recovery.
