Byju’s founder, Byju Raveendran, promises a comeback despite overwhelming criticism online regarding the company’s financial and legal troubles.
Byju Raveendran, the disgraced founder and CEO of Byju’s, posted a message on social media, promising a comeback despite facing a whirlwind of criticism. The post, shared on X (formerly Twitter), featured a picture of Raveendran’s younger self, accompanied by the message: “Broke, not Broken. We will rise again.” However, the response from netizens was far from supportive, with a significant portion voicing anger, frustration, and sarcasm.
Byju’s, an edtech startup that was once valued at $22 billion, has been embroiled in multiple legal and financial troubles. The company defaulted on a $1.2 billion loan and faced insolvency proceedings due to unpaid sponsorship dues. This crisis led to mass layoffs, unpaid salaries, and a dramatic reduction in valuation, shaking investor confidence.
Despite these challenges, Raveendran expressed his “hyper-optimism” regarding Byju’s potential for recovery. In another post, he hinted at the company’s relaunch, stating that they would rehire from the “incredible pool of former BYJUites.” However, the backlash to his posts on X has been overwhelming, with netizens questioning the company’s impact on the education sector and the ethical implications of its business practices.
One user commented, “Karma hit you badly! Selling tabs to the poor under the guise of providing good education, trapping them in loans and EMIs. What an evil organization Byju’s was.” Another posted, “You broke, not broken. But then you have broken and shattered the dreams of many students and families.”
This online vitriol is a stark contrast to Raveendran’s optimism, with many questioning whether his company can recover or if his leadership is capable of addressing the concerns raised by former customers and employees. Some were even more dismissive, saying, “Nobody wants you to rise again” and “You should go to jail.”
Byju’s current predicament stands in stark contrast to its former glory, as the company struggles to regain credibility amidst mounting challenges. Raveendran’s remarks on social media have failed to quell the criticism, and the company’s path forward remains uncertain.
