Although Narayanan did not divulge any details on his next venture, he hinted at changing industry
Last December, Simplilearn fired around 200 employees citing their poor performance over the last few days
Simplilearn’s consolidated net loss widened 36.5% in FY23 to INR 244.2 Cr
Bengaluru-based edtech startup Simplilearn’s chief product officer Anand Narayanan has stepped down from his position after his 8-year stint with the company.
“After an absolutely amazing 8+ years with Simplilearn
as their Chief Product Officer, I have decided to move on and find my next passion project. “why?” you may ask…sometimes the “why” is simply that you realise that someone else can take your role and bring a lot more energy to it since you have been doing it for a bit too long,” Narayanan said in a Linkedln post.
“As a shareholder and well wisher of the company I couldn’t see past that…so it is time to move on and retain that passion and energy in me that my team respects and values,” he added.
Although he did not divulge any details on his next venture, he hinted at changing industry. “ I am quite energised by the thought of changing industries (for the 5th time) and getting back to a lot of personal learning and growth. Edtech has been kind to me..but it’s time for another personal disruption!,” he said.
Narayanan joined the edtech venture in 2016 as vice president, product and engineering. Later, he was elevated to the position of CPO in 2017. At Simplilearn, he led all product decisions from the day to day tactical to the long-ranging strategic. Before Simplilearn, he worked with Dell, Rackspace, among others.
Founded in 2010 by Krishna Kumar, Simplilearn offers online upskilling courses in segments such as cyber security, cloud computing, project management and data science to students and working professionals.
It also offers courses in association with educational institutions and global organisations like IBM, Microsoft, Amazon, Meta, and KPMG.
In 2021, private equity firm Blackstone acquired a majority stake in the startup for $250 Mn. A year later, Simplilearn raised $45 Mn in a fresh funding round led by venture capital firm GSV Ventures.
Last December, Simplilearn fired around 200 employees citing their poor performance.
The layoffs affected employees at various levels, with the sales team being hit the hardest. Other departments, including marketing and operations, were also impacted by the layoffs.
Simplilearn’s consolidated net loss widened 36.5% in the financial year 2022-23 (FY23) to INR 244.2 Cr from INR 178.9 Cr in FY22, hurt by a sharp rise in certain expense heads.
The Blackstone-backed startup registered a 50.3% rise in its operating revenue to INR 684 Cr during the year under review from INR 455.2 Cr in FY22.
