Is Byju's Making a Comeback? Raveendran’s Vow Sparks Debate

Troubled edtech start-up Byju's founder and CEO Byju Raveendran has vowed that he will revive the start-up in a post shared on X. Once a shining star in India’s startup ecosystem that attracted global investors, Byju’s is now entangled in legal disputes and financial turmoil.

"Broke, not Broken. We will rise again," wrote Raveendran.

To which a user responded, "Karma hit you badly! Selling tabs to the poor in the name of fear of good education. Putting them in the trap of loans and EMIs. What an evil organisation Byju’s was. We all know."

"Arrogance and greed can only take you far enough for you to fall. Hope you have learned your lessons," said another user on the micro-blogging platform.

However, others have also termed him as a "king" and hoped that he will rise again to become an "emperor".

From $22Bn to Legal Woes

Byju's was valued at $22bn back in 2022. However, now it is under legal disputes with lenders over $1bn in unpaid debts in both the US and India courts. It led to insolvency proceedings initiated by the BCCI ((Board of Control for Cricket in India) over unpaid sponsorship dues.

This is the third time that the founder posted on X since his withdrawal from social media amid th ongoing crisis. On March 29, he hinted at the start-up's comeback in a series of posts for the first time.

"Once we relaunch our company- which I believe will happen sooner than expected-we will rehire exclusively from our incredible pool of former BYJUites.​ My hyper-optimism may seem crazy to some. But let’s not forget that you have to be odd to be number one," he said while concluding the thread.

In February, Raveendran took to LinkedIn and alleged foul play between Byju’s lenders and its interim resolution professional (IRP), addressing the firm’s financial woes and legal troubles.

He claimed that he, along with several of his employees, has received a document with “conclusive evidence” of criminal collusion between EY India, US-based lender GLAS Trust and the firm’s IRP Pankaj Shrivastava.

“I am sure a thorough investigation of this evidence will reveal the truth. I request the authorities to take that up immediately,” Raveendran wrote.