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Debt -ridden Edtec Company Buyjus founder Buander Ravindran has said that he will soon relament the company. Ravindran shared his old picture in a post on social media platform x and wrote, ‘They were broken, not broken. we will rise again.
At one time, Byej was the largest Edtech startup in the country. By 2022, its value was $ 22 billion i.e. about 1.88 lakh crore rupees. But due to financial miss management and other problems, the company’s net worth in 2024 became zero.
In 2011, Bayju Rabindran started Byzus as a small online education platform.
Byju said 3 big things …
- Once again when we will relocate our company, which I think will be before expectation – especially we will hire our old people. Some people may feel madness, but do not forget that you have to be different and strange to become number one.
- Nothing is as good as it seems, nor as bad as you are assured. The truth is usually somewhere in the middle. So I have come to talk about the last 20 years- good 17, bad 2 and ugly 1, no filter, only facts.
- In 9 years we hired 215,000 new graduates. Without discrimination on the basis of experience and academic background, everyone gave a minimum salary of 6 lakh rupees. Giving these talented youth the first opportunity for their career has been the greatest honor of my life.
Miss-Maneysment drowned bye
Climbing story
In 2011, Bayju Rabindran started Byzus as a small online education platform. Initially it began with coaching classes, but in 2015 it increased rapidly with the app launch. The use of interactive learning, easy language and technology for children became its specialty.
In 2020-21, the Kovid epidemic increased the demand for online education and Bijus took full advantage of this. Aggressive marketing (brand ambassadors like Shah Rukh Khan) and Acquisition (companies like Whitehat Junior, Akash) brought it to a $ 22 billion valuation by 2022, making it India’s most valuable startup.
Start of fall
After 2022, the brightness of the bijus began to fade. The heavy debt taken for aggressive expansion and acquisition became a burden on the company. Financial reports were delayed, and a loss of ₹ 8,245 crore was revealed in 2021–22. Investors questioned transparency. Along with this, the company was accused of not giving aggressive sales tactics and refunds, which broke the trust of the customers.
Sloping
By 2023, the situation worsened. The Enforcement Directorate (ED) began an investigation into FEMA violations. Board member and auditor deliteted resigned. US lenders demanded bankruptcy. Employees were fired. Competition increased in the market, and the valuation of byzus fell rapidly.
towards the end
By 2024, the valuation of the byzus increased to zero. Legal battles, debt mountains and instability in operation drowned it. Right now the action of bankruptcy is going on.
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Byju’s founder Bayju Rabindran’s net worth was zero: 17,545 crore rupees a year ago, Forbes dropped out of the bilinyer list
The net worth of Founder by Bayjus, the Edtech company, who is struggling with the financial crisis, has become zero. A year ago, on 4 April 2023, he had a net worth of $ 2.1 billion (then about ₹ 17,545 crore). This information has been revealed in Forbes’s Billionaire Index 2024.
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