'Broke, not broken': Byju Raveendran breaks silence on 'the good 17, bad 2 & ugly 1' years, struggles & comeback plan

Byju Raveendran, the founder of education technology company Byju's, recently joined social media platform X to share insights into the company's journey over the past 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," wrote Raveendran, marking a departure from his previous preference of letting his work speak for itself. 

Byju's, which was valued at $22 billion in 2022, faced significant financial difficulties, largely due to a cash crunch and regulatory issues. On Sunday, alongside a photo from his younger days, Raveendran shared another message on X, "Broke, not broken. We will rise again." 

The company’s financial troubles escalated as the return to physical classes impacted its operations. Despite this, Raveendran remains hopeful about a turnaround, stating, "Once we relaunch our company – which I believe will happen sooner than expected – we will rehire exclusively from our incredible pool of former BYJUites." 

His optimism is evident even amid ongoing challenges. 

Raveendran emphasised Byju's role in providing career opportunities, having hired 215,000 fresh graduates over nine years, each earning a minimum salary of Rs 6 lakh. "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 great economy," he noted. 

Addressing speculations about his move to Dubai, Raveendran clarified it was for his father’s medical treatment, not an attempt to evade the company's issues. "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 asserted. 

Divya Gokulnath, cofounder of Byju’s, announced Raveendran's foray into social media, highlighting his previous reluctance. "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 shared on LinkedIn. 

Raveendran's statements indicate a strategic approach to relaunching Byju's, aiming for a swift comeback despite the ongoing financial struggles. His optimistic outlook remains central to the company's potential revival.