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Byju’s most eventful week: Boardroom manoeuvres, mass firings, government enquiry, shareholder revolt

Andrew McCollum

Byju Raveendran, CEO and co-founder, Byju’s; illustration by Sadhana Saxena

Synopsis

Founder Byju Raveendran remained his boisterous self in the town hall on Thursday. In his address to employees to allay concerns about the spate of bad news that has engulfed the company, there was no mention of ongoing mass firings. He was least apologetic and he said “funding winter or summer we will raise money”, as per those who attended the meeting.

Founder couple of Byju’s, Byju Raveendran and Divya Gokulnath, hastily left their Dubai residence and jetted off to Bengaluru early this week. Their urgent mission: to restore order and address the mounting challenges within the organisation. The chaos and confusion have gripped their offices with a barrage of bad news pouring in the past one week alone. Board members’ resignation, auditor’s exit, government investigation, court battle with

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