Byju Raveendran
Dear reader,
The Indian edutech sector has seen significant upheaval, with Unacademy co-founder and CEO Gaurav Munjal attributing Byju’s woes to its founder and CEO Byju Raveendran’s alleged refusal to heed the advice.
Munjal emphasised the importance of listening to feedback, even if it’s unpleasant, to avoid similar pitfalls. This commentary aligns with industry sentiments, as upGrad’s Ronnie Screwvala previously highlighted the reputational damage caused by Byju’s struggles.
Once a funding darling during the pandemic, Byju’s now grapples with sustainability and profitability issues, exacerbated by a funding winter. The company’s massive layoffs, delayed financial reports, and a sharp valuation drop have further tarnished its image. Legal troubles and shareholder discontent, including attempts to oust Raveendran, compound the crisis.
The sector’s broader challenges are underscored by potential consolidations, like the rumored acquisition of Unacademy by K-12 Techno Services. Munjal’s reflections on X offer a cautionary tale for all edtech founders: prioritize actionable feedback to navigate turbulent times and sustain growth.
Sainul,
Editor.
—-
NEWS
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With this, Gaurav Munjal has become the latest Indian edutech co-founder to join the debate around troubles at Byju’s; In Feb, upGrad’s Ronnie Screwvala said that due to ‘one rotten apple’ the industry was witnessing reputational damage.
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The post Ecosystem Roundup: Experts blame bad leadership for Byju’s troubles | Xurya raises US$55M | Jirnexu acquires CompareHero appeared first on e27.