What Will Happen To BYJU'S Without Byju Raveendran?
If the all-important Karnataka High Court order comes against BYJU’S, we could see sweeping changes at the edtech giant.
And after all the drama and the media war of the past week, we wanted to see whether a change in guard could change things for the troubled company.
The company is currently said to be seeing close to INR 200 Cr in monthly sales, but revenue collection challenges persist due to the discontinuation of partnerships with non-bank financial company (NBFC) lenders.
BYJU’S net loss surged 81% YoY to INR 8,245.2 Cr (close to $1 Bn) in FY22 as WhiteHat Jr and other loss-making acquisitions continued to weigh down the bottom line
Whoever is in charge of the company first needs to fix this severe imbalance. A rights issue of $200 Mn or $300 Mn is not about to save the company as much as it would help keep it afloat for a few more months.
BYJU'S acquisitions, once promising, have proven costly and burdensome, contributing to the company's weak financial state. Even if Byju Raveendran steps down as CEO, these acquisitions remain a significant challenge for potential new management.
BYJU'S acquisitions, once promising, have proven costly and burdensome, contributing to the company's weak financial state. Even if Byju Raveendran steps down as CEO, these acquisitions remain a significant challenge for potential new management.
How does a leadership change, changes things for the edtech giant? Will it solve all the long-pending issues at the company? What else needs to be fixed before one can claim that everything is alright with BYJU’S?