Tag Archives: Edtech

In a recent media call, Byju Raveendran, the founder of the beleaguered edtech company Byju's, expressed his commitment to repaying all outstanding debts to lenders, provided they are willing to collaborate with him. Raveendran's remarks come as the company faces ongoing insolvency proceedings triggered by a dispute with the Board of Control for Cricket in India (BCCI) over unpaid dues.

Gaurav Munjal, Co-founder and CEO of Unacademy, has openly criticized Byju Raveendran, Founder and Group CEO of Byju's, attributing the edtech firm's recent setbacks to Raveendran's failure to heed advice from others.

Byju's, the embattled edtech giant, announced on Sunday that two of its senior advisory board members, Rajnish Kumar and Mohandas Pai, have chosen not to renew their contracts, which are set to expire on June 30. This development comes as the company faces multiple challenges, including delayed salaries due to a cash crunch.

Edtech giant Byju's has made headlines as its founder and CEO, Raveendran, personally took on debt to ensure partial salary payments for March ahead of the National Company Law Tribunal (NCLT) hearing scheduled for April 23rd. This move comes amidst a backdrop of financial challenges and legal proceedings involving Byju's.

In a significant development, the founder of edtech giant Think and Learn, Byju Raveendran, is set to step into the role of handling the company's day-to-day operations following the resignation of CEO Arjun Mohan. This leadership transition marks a pivotal moment for Byju's as it embarks on a strategic overhaul aimed at consolidating its business into three key divisions.

Edtech giant Byju's has reportedly initiated layoffs via phone calls, opting to release employees without putting them through a performance improvement plan (PIP) or requiring them to serve a notice period. The company's decision has raised concerns and drawn attention to the impact on affected staff.

Edtech giant Byju's has made the decision to shift its workforce to remote work, vacating all its office spaces across the country except for its headquarters in Bengaluru. With approximately 14,000 employees affected by this move, the company aims to navigate through its ongoing financial crisis.

Allegations of financial impropriety have surfaced against India's prominent edtech giant, Byju's, as investors claim the company siphoned off a staggering $533 million to an obscure hedge fund in the United States. In response, investors are seeking a stay on Byju's $200 million rights issue, labeling it as illegal and in violation of established laws.

Byju Raveendran, CEO of the prominent edtech firm Byju's, has reassured employees that he remains the chief executive officer of the company, dispelling rumors of his ousting following a shareholder vote. In a letter addressed to staff members, Raveendran refuted media reports suggesting his removal from the CEO position as "greatly exaggerated and highly inaccurate."

Around 101 tech firms fired 25,436 employees globally in the first few weeks of January, according to layoff tracking site layoff.fyi. The tech industry, including Big Tech and startups, together laid off over 17,000 employees in India in 2022. Even as they continue to sack employees at frequent intervals, startups …