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