#The Rise and fall of Byju's

[emarket-ireland]

The Rise And Fall Of Byju’s. The $22 Billion Company.

[publicrelations-spectra23]

THE RISE AND FALL OF BYJU’S

The Indian Ed-Tech firm Byju’s was founded in 2011 by Byju Raveendran to combat the traditional teaching methods and to make learning fun and memorable. The company achieved instant stardom by becoming one of the most popular education apps in the country. Through a number of acquisitions and fund raising, the company has grown to become the world’s largest edtech companies with over 150 million registered students in 20+ countries. The meteoric rise of the company was followed up with an equally alarming decline. The current situation at Byju's is a public relations nightmare. The company has been accused of a number of unethical practices, including misleading advertising, predatory lending, and aggressive sales. The company is plagued by allegations of corporate mismanagement, greed, and aggressive sales tactics. The company has also been criticized for its poor performance, which has led to layoffs of thousands of employees in recent months.

The company is notoriously known for lack of transparency. They have been reluctant to disclose their financial information despite frequent requests and warnings from their investors and auditing firm. This lack of transparency has made it difficult for investors and analysts to assess Byju's true financial health. The company has also skipped paying $40 million loan payment to lenders. Byju's has also been criticized for its aggressive sales tactics. The company has been accused of pressurizing parents to enroll their children in its programs, even if they cannot afford them. The company was also accused of using predatory lending practices to target parents from poor socioeconomic backgrounds. In early January of this year, the company roped in Lionel Messi as their Global Ambassador and ironically laid off thousands of employees a few days later to cut costs. They sponsored the 2023 FIFA Men’s World Cup and have laid off around 2500+ employees.

The Ed Tech firm is now seen as a company that is more interested in profits than in its employees or customers.

Task at Hand:

You are the PROs of Byju Raveendran, convince the investors and lenders as to how the company is going to repay the debts and improve the image of the company

[graphaizesmm]

Visualising the Rise and Fall of Byju’s

Byju’s journey, from being one of India’s most valued startups to its dramatic decline, offers a compelling study of rapid growth met with significant challenges. As one of the pioneers of EdTech in India, Byju’s once held a valuation of over $22 billion in 2022. However, due to a series of setbacks including alleged accounting irregularities and mismanagement issues, the company’s valuation has now plummeted by a striking 95%, with the latest valuation estimated at just $0.2 billion after notable investors like BlackRock reduced their stakes.

[ladookhotnikov]

The Biggest Failures of 2023: Insights from Lado Okhotnikov on Technological Chaos

Let's delve into the tech startup realm with Lado Okhotnikov's insights on some major failures of 2023.

Cruise's fatal accident, Convoy's bankruptcy, WeWork's downfall, IRL's bot farm scandal, and Byju's meteoric rise and fall serve as powerful lessons for the industry.

From mishaps in autonomous driving to unethical practices and unsustainable growth, these cautionary tales underscore the importance of responsible leadership and strategic planning.

[therandomauthor]

Byju Raveendran’s Net Worth Plummets To Zero Amid Crisis

SUMMARY

As per recently released Forbes Billionaire Index 2024, the embattled edtech major’s founder and CEO’s net worth plummeted to zero in 2024, pushing him out of the coveted list

Byju Raveendran’s net worth stood at INR 17,545 Cr ($2.1 Bn) last year

The edtech major has been grappling with fires on multiple fronts including multiple legal cases, a looming debt crisis, mass layoffs, funding crunch and a public standoff with investors

Byju Raveendran, founder and CEO of embattled edtech major BYJU’S, has a dramatic fall from grace, with his net worth plummeting from INR 17,545 Cr ($2.1 Bn) to zero, according to the recently released Forbes Billionaire Index 2024.

The fall from grace coincides with a slew of issues that have erupted at the edtech major in the past one year. Once the country’s most valued startup at $22 Bn, BYJU’S has grabbed news headlines for all the wrong reasons in the recent past with the turmoil at the company now pushing Raveendran out of the coveted list of world’s “richest’.

Founded in 2011 by Raveendran, along with his wife Divya Gokulnath, the edtech startup quickly rose to fame on the back of pandemic-era growth and raked in millions of dollars in VC funding.

With schools shut, the company launched a slew of offerings, catering to students from primary school to UPSC aspirants. Flush with capital, it also undertook a host of big-ticket acquisitions and even took a term loan B (TLB) anticipating the pandemic boom to continue.

However, things went south as the FOMO-era of 2021 took a backseat amid the early onset of funding winter in 2022. Wary investors tightened their purse strings as interest rates began to rise and market volatility became the norm.

As schools reopened and macroeconomic pressures began to appear, things went on a downward spiral for the edtech unicorn. As capital became scarce during the funding winter starting 2022, acquisitions of past years only added to the company’s losses without yielding any positive returns.

Making matters worse was opacity in the functioning of the company. BYJU’S regularly delayed its financial results inviting the ire of investors and other shareholders. It released its financial results for the year ending March 2022 (FY22) after a gap of two years, posting a cumulative loss of over $1 Bn.

As a result, the company began mass layoffs in 2022 as part of a restructuring exercise to streamline operations. It has fired more than 5,000 employees since 2022 and has delayed the salary of its workforce already twice this year.

On top of that, the company is also fighting a legal battle with its creditors over a $1.2 Bn TLB, hitting the brand image of the startup, which was once the poster boy of the Indian startup ecosystem. Besides, it also has a dozen legal cases, including insolvency proceedings, filed before various courts across the country.

It is also fighting pitched public battles with its investors that earlier this year convened an extraordinary general meeting (EGM) to oust Raveendran and his kin (wife and brother Riju Ravindran), who dominate the company’s board.

Additionally, the edtech giant is also under the scanner of Enforcement Directorate (ED) over alleged foreign exchange violations involving a sum of INR 9,362 Cr.

Such has been the situation that Raveendran has had to reportedly pledge two houses to pay the salaries of the edtech major’s employees while the NCLT has barred it from accessing the proceeds of the recent $200 Mn rights issue till further notice.

The issues have contributed to Byju Raveendran’s fall from grace. Once a high flying name in the startup ecosystem, his net worth now, as per Forbes, stands at zero. As much goes on at the company, all eyes are now on whether he is able to weather the storm and steer BYJU’S’ sinking ship through choppy waters.

[findtek]

How Byju’s Went From Edtech Unicorn to Edtech Disaster: 10 Reasons Behind Its Failure

Byju’s: The Rise and Fall of an Edtech Giant Byju’s, the world’s largest edtech company, was once hailed as a success story of innovation and disruption in the education sector. Founded in 2011 by Byju Raveendran, a former teacher and engineer, the company offered online learning solutions for students from kindergarten to competitive exams and professional upskilling. Byju’s claimed to have…

[debasishsinha]

Byju's: Unveiling the Rise and Plunge of India's EdTech Giant: Challenges, Controversies, and Lessons Learned

Byju’s, an Indian education technology firm launched in 2011 by Byju Raveendran, has had an extraordinary journey in the domain of online education. Byju’s fast acquired popularity through new tactics and strong marketing strategies, with the goal of revolutionizing learning. In this article I will try to emphasize the rise and fall of Byju’s from its beginning to current issues and…

[sattwikraj]

Indian EdTech and the Education

Edtech is the tool to democratize education, right?  But not in India, In India it’s the tool to democratize the examination system.

This pandemic advocated a sudden rise in the online education platform like BYJU’S, Unacademy and many more. Investors are betting massive amounts into them. But I’m not here to talk about their valuation.

The thing that is concerning me is that nothing has changed, they say “fall in love with learning” and yet they are teaching the same shit what offline institutes were teaching before. For me this is “falling in love with exams”, their whole platform is based around competitive exams of all sort. 

Nobody is learning physics because they love physics, everybody is learning physics to score certain ranks in some competitive exams. And I get it everybody wants to get into these top universities but within this process don’t kill the joy of learning something new.

There is no independent thought going on here, everything is already designed for you, you just have to follow whatever the instructor tells you to do so. The intent of teaching is understanding and the process of understanding is exploration and all they are selling is a formulated method of teaching at an ideal level.

Students don’t even care who teaches them now, most of them will know the organization only. Nobody cares about the art of teaching, all they care about producing toppers to claim their credibility. It’s becoming more of a “digital Kota factory”.

Okay, from the business side I know that it’s an easy market but you had the opportunity to change things and improve upon it and yet you decided not to. You just copy-pasted the same format and not a single course about anything which doesn’t have any competitive exam like painting, writing, design and the list goes on, then you won’t have any metric to claim the credit.

Your world may move fast, but education still running slow. The optimist inside me still thinks that you’ll see the bigger picture and would try to solve the fundamental problems of education instead of providing the tried-and-tested framework in a digital version.

“learning platforms”  ------> “test prep platforms”

[marwadiuniversity]

Reasons Why You Should Choose to Study Mechanical Engineering?

Mechanical engineering is one of the fullest and most thriving fields to pursue a career within. However, if you're considering opting for a mechanical engineering degree but are not truly convinced, you need to read this post. In this post, I've discussed in detail the reasons to study mechanical engineering. Go on and read! 

If you've got a passion for physics, mathematics and machines, then hands down, nothing can be more excellent for you than picking mechanical engineering. We'll know how engineering is the most desirable careers in current times, and undoubtedly students have a higher affinity towards the branch of mechanical engineering. 

Mechanical engineering expedites technical application in the layout, production and sustenance of machines. Simply stated, mechanical engineering enables engineers to develop machines, which support people perform complex tasks with ease. 

Mechanical engineering can help you build a rewarding career as the ever-growing technology has led to a rise in demand for mechanical engineers. To make sure you don't have any double thoughts on the chosen career, I am giving you some great reasons to study mechanical engineering beforehand! 

5 Reasons to Study Mechanical Engineering: 

Broad Range of Careers 

Planning to earn a bachelor degree in mechanical engineering? It's one wise decision to make. Your learning does not get bounded to only concepts of mechanical. You also have the opportunity to specialize in areas like marine engineering, automobile engineering, aerospace engineering etc. As you've doors open to so many specializations, you can get something of your interest and preference. 

Immense Contribution to Society

Mechanical engineers create advanced and energy-efficient machines so that humans can perform tasks freely, without any challenges. Building next-gen AI-enabled gadgets, devices for constructing roads and structure, renovations, develop cybersecurity solutions, produce and renew environment-friendly machines etc., are some of the solutions that mechanical engineers contribute to the up-gradation of society. They're those brilliant minds that make the world a better place to live. 

Great Job Opportunities

Mechanical engineers are in demand and will continue to stay in future as well; why? Because the world relies on their innovations! As a mechanical engineer, you can pave your pathway to never-ending job opportunities. All you need is to start your career with a B.Tech in Mechanical Engineering and get yourself landed in successful job roles like nuclear engineer, robotics engineer, automotive engineer, biomedical engineer, consultant, professor etc.

Forefront in Development of New Technologies 

Industrial revolution 4.0 has triggered new and exciting technologies that are getting employed in sectors like transport, healthcare, construction, automobile, robotics and many more. Any high-tech gadgets you name and they're surely not at most satisfying without the skills and proficiency of mechanical engineers. As a mechanical engineer, you're at the lead for developing technologies for the future with a sense of purpose that those technologies will improve life in years to come. 

Grow Your Knowledge Extensively

As discussed earlier, your knowledge does not get limited to theories of mechanical engineering, as the mechanical engineering study proves to be beneficial in numerous aspects. When studying the programme, you will grow your knowledge in electricity, constructions, math, physics and computer applications like machine learning, artificial intelligence, IoT etc. The mechanical engineering degree helps you gain an understanding of the disciplines of engineering. 

What's Next? 

I am sure these reasons would have been pretty enough to erase all your double takes on choosing the mechanical engineering field. Get ready to pursue your passion for machines and moving parts by opting for B.Tech in Mechanical Engineering programme. But, don't fall for any college; only prefer the one that provides best-of-class education and excellent placement opportunities. 

I would suggest you check the mechanical engineering programme of Marwadi University. Being one of the few elite universities in India to have NAAC A+ grade, Marwadi University provides 360-Degree learning to its learners plus holds a placement record in well-known companies like Amazon, Hettich, LG, BYJU's etc. 

You can find many other reasons to become a mechanical engineer, as these were just a few. If you're ready to pursue this exciting yet challenging degree, then brace yourselves and seek your career path! 

Did you like this article?

Let me know your views or suggestions below. I'd love to hear from you! 

Source : [Medium]

[businessliveme]

Byju Raveendran: India’s Newest Billionaire

(Bloomberg) — India’s newest billionaire is a former classroom teacher who developed an education app that’s grown to a valuation of almost $6 billion in about seven years. Byju Raveendran joined the rarefied club after his Think & Learn Pvt scored $150 million in funding earlier this month.

That deal conferred a value of $5.7 billion on the company in which the founder owns more than 21%, people familiar with the matter said. Its closing coincided with the announcement that the company’s Byju’s app — named after the founder — will team up with Walt Disney Co. and taking its service to American shores by early 2020.

The 37-year-old entrepreneur — who has said he wants to do for Indian education what the Mouse House did for entertainment — is taking his biggest step yet geographically and creatively. In his new app, Disney staples from The Lion King’s Simba to Frozen’s Anna teach math and English to students from grades one through three. The same characters star in animated videos, games, stories and interactive quizzes.

“Kids everywhere relate to Disney’s Simba or Moana, who grip kids’ attention before we take them through the loop of learning,” said Raveendran, also chief executive officer.

Read more about the rise of India’s billionaires

India is going through a dramatic period of wealth creation — and destruction. A new breed of self-made entrepreneurs is joining the ranks of the well-heeled, helping the country’s ultra-rich population grow at the world’s fastest pace. Raveendran, at least on paper, assumes his place among those parvenus thanks to his effort in internet education.

Online learning is booming, perhaps nowhere more so than on Byju’s home turf, where internet usage is exploding because of the ubiquity of cheap smartphones and cut-price wireless plans.

India’s online learning market is expected to more than double to $5.7 billion by 2020, according to the government-backed India Brand Equity Foundation.

Education technology for kindergarten through 12th grade is one of the fastest-growing segments of the country’s internet market, said Anil Kumar, chief executive officer of Redseer Management Consulting Pvt. “Indian education startups are well set to seize the global opportunity given that they already cater to a large English-speaking base and have created unique education content,” he said.

Byju’s own fortunes have climbed alongside the market

Its revenues are expected to more than double to 30 billion rupees ($435 million) in the year ending March 2020, Raveendran said. That pace of growth has already caught the eye of some of the industry’s biggest investors from Naspers Ventures and Tencent Holdings Ltd. to Sequoia Capital and Facebook-founder Mark Zuckerberg and wife Priscilla Chan.

Those big-name backers buy Raveendran’s vision. The Byju’s founder grew up in a village on India’s southern coast where his parents were school-teachers. He was a reluctant pupil, playing hooky to frequent the football field, then learning on his own at home.

He became an engineer and then began helping friends crack entry exams to top Indian engineering and management schools. The classes swelled till he finally began teaching thousands in sports stadiums, becoming a celebrity tutor who commuted between multiple cities during weekends.

Think & Learn

He set up Think & Learn in 2011, offering online lessons before launching his main app in 2015. The business has signed up more than 35 million of whom about 2.4 million pay an annual fee of 10,000 to 12,000 rupees, helping it became profitable in the year ending March 2019.

That’s when Raveendran began courting long-term investors such as pension funds and sovereign wealth funds — his latest backer is the Qatar Investment Authority.

In Byju’s latest funding round, the entrepreneur bought shares to maintain his equity level. Along with his wife and brother, the Raveendran clan now holds a total stake of about 35%, said the people familiar, asking not to be quoted as the matter is private.

Byju’s approach is simple — captivate kids by transforming the content to fit short attention spans. Raveendran has always harbored ambitions to crack English-speaking countries, and has flown in YouTube stars to feature in his videos.

In Disney, he may have found a ready-made audience. All the lessons on the new service with Disney are set in the context of the entertainment giant’s classics and stay true to the narrative. To explain temperature, the app sets up a scene where Frozen’s Elsa falls ill because she constantly plays with snow. Anna gets out the thermometer to gauge her fever and a little story is then built around heat and cold. Or, to learn shapes, young learners dive into the story of Cars where they have to sort items like tires, traffic cones and billboards into buckets to learn about round, triangular and rectangular shapes.

“We are customizing Disney Byju’s to the American and British school curriculum,” Raveendran said. “The characters have universal appeal.”

The post Byju Raveendran: India’s Newest Billionaire appeared first on Businessliveme.com.

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