Byju Raveendran, the founder of edtech Byju’s, has promised to rebuild his once-thriving company, declaring that setbacks will not define its future. “Broke, not broken. We will rise again,” Raveendran posted on X, along with an old photograph of himself.
The startup that was valued at a staggering $22 billion in 2022, has faced a severe downturn due to financial crises, regulatory hurdles and legal battles with investors. Byju Raveendran has remained absent from India since late 2023, long before BYJU’S began falling under the weight of investor clashes, mounting debts and a financial freefall.
Raveendran, who joined X in March, shared the company’s journey over the last two decades. “Nothing is ever as good as it seems, nor as bad as they make you believe. The truth usually lies somewhere in between. So I’m here to talk about the last 20 years: the good 17, the bad 2 & the ugly 1. No filters. Only facts,” the founder posted.
He spoke about Byju’s role in shaping young professionals, revealing that the company had hired 2,15,000 fresh graduates over nine years, offering them a minimum fixed salary of Rs 6 lakh, regardless of their experience or academic background. “Byju’s was built by these 2 lakh freshers with zero experience, exceptional talent and infinite energy. They went on to become productive members of our economy. Some became entrepreneurs and created jobs. All they needed was that first elusive opportunity,” he said.
Earlier in a post on X, Byju wrote, “Once we relaunch our company — which I believe will happen sooner than expected — we will rehire exclusively from our incredible pool of former BYJUites.” “My hyper-optimism may seem crazy to some. But let’s not forget that you have to be odd to be number one,” he posted on March 29.
In October 2024, Raveendran spoke to the media and cleared the air around his move to Dubai. “It’s very unfortunate that people think that I ran to Dubai because I had to… I came to Dubai for a year for my father’s treatment, which led to our ongoing stay. But let me be clear, I did not run away,” he stated. In the virtual press conference, Raveendran also blamed investors for his company’s mounting troubles and had expressed his intent to revive the edtech startup.