In a tell-all interview with Rahul Kanwal, News Director, India Today and Aaj Tak, at Business Today’s Davos Brainstorm, Byju Raveendran, Founder and CEO of edtech giant BYJU'S spoke about the NCPCR allegations, losses, Lionel Messi controversy and more
“The last six months were challenging but the next six years are going to be great,” said Byju Raveendran. He said they are on a mission to build something that will last for decades!
Talking about NCPCR allegations, Byju Raveendran admitted that they made their fair share of mistakes and plan to correct them
BYJU’S faced a lot of backlash for onboarding football legend Lionel Messi as the brand ambassador. Byju Raveendran clarified that it was a different kind of partnership, where Messi came onboard for their not-for-profit initiative
WhiteHatJr was acquired by BYJU’S in 2020 for $300 million. However, the company later came into limelight for layoffs, losses and more
Looking back, Byju Raveendran admitted that WhiteHatJr’s acquisition was the most challenging acquisition they have done till now and they regret it. He said, “Today, it is easy to say that we shouldn’t have made that acquisition.”
Byju Raveendran highlighted that funding winter is bringing about corrections in the sector. He said big players like BYJU’s stand to gain as too many players enter the market when “cheap capital” is available
Divya Goklunath, Co-founder of BYJU’S, told Business Today TV’s Managing Editor Siddharth Zarabi that while the Indian start-up ecosystem is going through a funding winter right now, spring is not far behind
Byju Raveendran said that they were never into chasing valuations. He added, “We were also creating values.” He further said that BYJU’S will become profitable in the coming months
“This is a time when real business models will stand out,” said Byju Raveendran. He concluded that businesses with strong unit economics and profitability will survive any tide and emerge victorious