Broke, Not Broken: Byju Raveendran’s Pledge to Rebuild

Byju Raveendran, the founder of edtech giant Byju’s, has vowed to restore his company despite its recent setbacks. “Broke, not broken. We will rise again,” he declared on X, sharing an old photograph of himself as a symbol of resilience.

Once valued at an astounding $22 billion in 2022, Byju’s has faced a sharp decline due to financial struggles, regulatory challenges, and legal disputes with investors.

Raveendran, who had been absent from India since late 2023, spoke about the company’s journey and the challenges it has faced.

“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,” he posted on X.

Byju’s Contribution to Job Creation

Raveendran highlighted the company’s role in shaping young professionals, revealing that Byju’s had hired 215,000 fresh graduates over nine years, each receiving a minimum fixed salary of Rs 6 lakh, regardless of 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 explained.

In an earlier post, he reassured former employees of potential rehiring opportunities. “Once we relaunch our company — which I believe will happen sooner than expected — we will rehire exclusively from our incredible pool of former BYJUites.”

He added, “My hyper-optimism may seem crazy to some. But let’s not forget that you have to be odd to be number one.”

Addressing Speculations About His Move to Dubai

In October 2024, Raveendran spoke to the media to clear up speculation regarding his relocation 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.

During a virtual press conference, he also attributed Byju’s financial difficulties to investor disputes, expressing his determination to revive the company.

Facing Financial and Legal Hurdles

Byju’s, which was once a leader in the edtech sector, has faced a dramatic downturn due to a liquidity crisis, regulatory concerns, and conflicts with investors, including U.S. lenders demanding $1 billion in unpaid dues, which has put the company in financial distress.

However, Raveendran remains confident in a turnaround. “Once we relaunch our company – which I believe will happen sooner than expected – we will rehire exclusively from our incredible pool of former BYJUites,” he reiterated on X.

A Shift Towards Transparency

Raveendran’s recent decision to join social media marked a change from his previous approach of letting his work speak for itself.

“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,” he stated.

Acknowledging Byju’s Impact on Employment

Byju’s has played a significant role in offering career opportunities to young professionals, hiring 215,000 fresh graduates over the years.

“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,” he emphasized.

Clarifying His Stance

Addressing rumors surrounding his move to Dubai, Raveendran asserted that it was solely for his father’s medical treatment and not an attempt to evade the company’s challenges.

“It’s very unfortunate that people think that I ran to Dubai because I had to… But let me be clear, I did not run away,” he insisted.

Support from Co-founder

Divya Gokulnath, co-founder of Byju’s, acknowledged Raveendran’s reluctance to engage with social media.

“For years, I tried convincing BYJU RAVEENDRAN to dip his toes into the sometimes pretty, sometimes crazy world of social media. His response? A steadfast ‘I’d rather build and let my work do the talking.’ But guess what? The builder is now talking,” she wrote on LinkedIn.