Founder and CEO Byjus, Byju Raveendran, and his wife, Devya Gokulnath, appeared on media channels. They clarified the rumours and optimism among the public, addressing fraudulent investors, apologizing to students, and vowing to compensate students. They even say, “We may be broke, but not broken”, and will make a strong comeback.
Let’s unfold the truth explained by them and their comeback with an unimaginable innovative approach in the Ed-Tech Landscape.
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Byju Raveendran Defends BYJU’S With “I’ll Never Sell…”
Byju Raveendran, founder and CEO of BYJU’S, an EdTech startup once valued at $22 billion, but today is bankrupt. BYJU’S founders, Raveendran and his wife Divya Gokulnath’s shifted to Dubai was suspected by the Indians. So, rumours started to spread across, titling them ‘Fugitive’.
But they keep clarifying the reality front of media, and assuring the students to make a comeback. Recently they appeared in media, where they exposed the Lenders’ fraud, apologized students, assured a compensation to students, and promised to make a comeback with innovative approach.
They even talked about their loyal teams working at BYJU’S 3.o without any salary, and certain facts which ignite their goal to come true.
Raveendran promises while talking to ANI, “I will not sell anything to anyone that I won’t give to my son.” He further iterates their mission, “We are selling love for learning.”
Defending BYJU’S teaching method, Byju Raveendran claims his son has benefited from their coding and maths courses on the platform WhiteHat Jr. He said, “The fundamentals of Math and coding he has learned from some special teachers in WhiteHat Junior.”
He further argued on the importance of curiosity in students, building skillsets over just academic knowledge. “Fifteen Years later, the skillset that they are learning in school won’t be of any use, “He said.
Apologized to Students and Vowed to Compensate Them.
In the world EdTech startups, students are everything. Hence, when startups got disrupted, it directly affected millions of students persuing different kind of courses. So, Byju Raveendran apologized to students while interviewing to ANI.
He said, “There were millions of students who got our product. Happily learn from the product and finish their courses with the product. This disruption is, if you ask me, the disruption which happend unfortunatily, and that’s where I like to apologise to all those students. Even if it is one student, it still can’t happen.”
Further interacting with ANI, he reveals his will to compensate those few students, but how it will be done he raised a thoughful question. Because few is not one or two but few thousand students who missed out because of the disruption.
His words, “We didn’t shut down the businesses. We had to complete the course. Once you commit to completing the course, you have to finish the course. Even if one student has missed out in the last six months, I will, like today, apologise to them, but we’ll compensate for it.”
Byju Raveendran Exposed Investors’ and Lenders’ Truth.
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BYJU’S founder, and Chief Executive Officer (CEO) exposes the real villion behind the collapse of Compay. He accuses the financial firms, lenders and investors, who did it to take control of the company.
In the interview shot in Dubai, Raveendran exposed the financial services firm Ernst & Young (EY), Legal Firm Khaitan & Co, and US-based lenders GLAS Trust to plan a collapse of his $22 billion EdTech empire, and “forcefully take control of the company.”
“The greed of a few vulture lenders in the US, who have colluded with some large institutions, including EY and Khaitan, to carry out fraud, has derailed our vision of creating a million teaching jobs, “Raveendran claimed.
The product part was not disrupted. The entire course. When things were going very well for us, unlike, we were not ruthless in cutting the businesses down because you can’t do that when it comes to students. You have to see the course completion, so we didn’t do it. When suddenly all the investors who were asking us to grow, grow, grow – overnight – told us that, okay, markets are changing, now cut and shut down businesses. I didn’t agree to that, “He said.
“These are narratives that they have created in trying to take control of the company. Unfortunately, in a company that is built on the founders’ name, or where the founder played an important role in the early years, they miss the fact that if you tarnish the founder’s name, it’ll have a huge impact on the company’s valuation, “He told ANI.
Byju’s 3.o: A Love For Learning in Students.
Instead of mounting troubles and after being ousted from the company, couples are still focused on a bright future. “We are excited to talk about Byju’s 3.o because we don’t belong in courtrooms. We belong in classrooms, “Raveendran’s wife, Divya Gokulnath, said.
Raveendran explained Byju’s 3.o as love for learning in students. He said, “The goal of Byju’s 3.o is to inspire a love for learning in students, staying true to the model the company followed in its early days.”
In an exclusive interview with a newswire, he said, “I am so excited to talk to you about Byju’s 3.o…there is so much respect for teachers and learning.”
Raveendran told ANI, explaining the future vision. He said, “We will leverage AI to enhance teachers, not replace them. We will be focused on uplifting underperforming students. Everything we will do will create an impact at a scale that we’ve not done before.”
“I’m stubborn when it comes to the mission. It’s going to be the same. How do we make it easy and interesting for students? How can we use AI not to replace teachers but to enable teachers to become better teachers? How can we move the bottom quartile of students to the next one or the next one?, “He added.
Byju Raveendran: A Fugitive.
Further clarifying the level ‘Fugitive’ Raveendran said this to be a “malicious media campaign”. He even clarified it was just verbally said, and not included in any official documentation.
He even emphasized it’s not a investigation on our personal life held by ED, but investigation in company’s matters. He said, “Our entire wealth and company were established in India. All profits were generated within India, taxes were paid in India, and investments were reinvested in India, “He said.
“Investment Directorate’s investigation is focused on the Company’s matters, not on us. Even my wife and I travelled India freely even after the ED enquiry began, “He added.
