Updated News Around the World
Seven issues Byju Raveendran needs to urgently fix to save his besieged ed-tech empire
Technology

Seven issues Byju Raveendran needs to urgently fix to save his besieged ed-tech empire

By Andrew McCollum

Byju Raveendran, founder and CEO, Byju’s

Synopsis

Byju’s pressing need of capital may be addressed by the sale of a couple of subsidiaries that it is planning. But there are deeper problems, which can only be addressed by a complete overhaul of its sales practices, organisational structure, and business conduct.

Payment defaults and debt troubles have been haunting Byju’s for months. But founder Byju Raveendran has kept reassuring existing investors and senior executives that a large fundraise is round the corner. He put up a brave face before employees in the midst of large-scale firing, investor resignations, auditor exits, creditors’ revolt, and EPFO default in June. With that much-awaited fresh capital remaining elusive, Raveendran needed a Plan B.

BY

  • FONT SIZE

    AbcSmall

    AbcMedium

    AbcLarge

  • SAVE
  • PRINT
  • COMMENT

Uh-oh! This is an exclusive story available for selected readers only.

Worry not. You’re just a step away.

Read this story for free.

Unlock your 30 days free access to ETPrime now.

Login to unlock

*No card details required.

Why ?

  • Exclusive Economic Times Stories, Editorials & Expert opinion across 20+ sectors

  • Stock analysis. Market Research. Industry Trends on 4000+ Stocks

  • Clean experience with
    Minimal Ads

  • Comment & Engage with ET Prime community

  • Exclusive invites to Virtual Events with Industry Leaders

  • A trusted team of Journalists & Analysts who can best filter signal from noise

  • ​Get 1 Year Complimentary Subscription of TOI+ worth Rs.799/-​

For all the latest Technology News Click Here 

 For the latest news and updates, follow us on Google News. 

Read original article here

Denial of responsibility! NewsUpdate is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Andrew McCollum 109721 posts 0 comments