BYJU'S On The Verge Of A Turnaround, Investors Ready To Back The Company: Byju Raveendran
- BYJU'S founder and CEO Byju Raveendran claims the company is on the brink of reversing its negative business cycle and launching BYJU'S 3.0, an AI-driven educational platform. - Raveendran stated that the founders have infused approximately INR 7,500 Cr into the company over the past 29 months to meet operational needs. - The company has failed to clear July 2024 salaries, with Raveendran blaming lenders and promising prompt payment once control is regained. - Despite financial challenges, BYJU'S remains the largest edtech platform globally with 150 Mn monthly users, transitioning to a sustainable business model. - Raveendran addressed ongoing legal battles with US-based lenders and denied any personal investigation by the Directorate of Enforcement. Source: [Inc42]()
