BT At WEF 2023: Byju Raveendran’s Tell-All Interview On BYJU’s Losses, Messi Row & More

Byju Raveendran’s
tell-all interview at
WEF 2023

In a tell-all interview with Rahul Kanwal, News Director, India Today and Aaj Tak, at Business Today’s Davos Brainstorm, Byju Raveendran, Founder and CEO of edtech giant BYJU'S spoke about the NCPCR allegations, losses, Lionel Messi controversy and more

Is the worst over
for BYJU’S?

“The last six months were challenging but the next six years are going to be great,” said Byju Raveendran. He said they are on a mission to build something that will last for decades!

BYJU’s: Confessions
& corrections

Talking about NCPCR allegations, Byju Raveendran admitted that they made their fair share of mistakes and plan to correct them

BYJU’S: Messi
controversy

BYJU’S faced a lot of backlash for onboarding football legend Lionel Messi as the brand ambassador. Byju Raveendran clarified that it was a different kind of partnership, where Messi came onboard for their not-for-profit initiative

WhiteHatJr: BYJU’S most
challenging subsidiary

WhiteHatJr was acquired by BYJU’S in 2020 for $300 million. However, the company later came into limelight for layoffs, losses and more

A not-so-smart move

Looking back, Byju Raveendran admitted that WhiteHatJr’s acquisition was the most challenging acquisition they have done till now and they regret it. He said, “Today, it is easy to say that we shouldn’t have made that acquisition.” 

Funding winter a
good thing?

Byju Raveendran highlighted that funding winter is bringing about corrections in the sector. He said big players like BYJU’s stand to gain as too many players enter the market when “cheap capital” is available

Spring is not far

Divya Goklunath, Co-founder of BYJU’S, told Business Today TV’s Managing Editor Siddharth Zarabi that while the Indian start-up ecosystem is going through a funding winter right now, spring is not far behind 

Never about
chasing valuation

Byju Raveendran said that they were never into chasing valuations. He added, “We were also creating values.” He further said that BYJU’S will become profitable in the coming months

Who will survive
the race?

“This is a time when real business models will stand out,” said Byju Raveendran. He concluded that businesses with strong unit economics and profitability will survive any tide and emerge victorious

Business Today's Davos Brainstorm: IMF's Gita Gopinath is optimistic on Indian economy's future

Produced by: Bhavya Kaushal
Designed by: Mohsin

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