Bohot gareeb logo ki baddua lagi hai byju ko. They'll pay in this life time itself

Senior Product Manager

Byju ma***od, ruined my life without giving salaries. Hope he will sleep on roads one day

Software Engineer

Welcome to News Discussion's Private Community

Byju's auditor BDO resigns, second auditor resignation in roughly a year! Dark Knight Returns

Consultant

Byju's auditor BDO resigns, second auditor resignation in roughly a year! Dark Knight Returns- Grapevine

- Byju's auditor BDO (MSKA & Associates) has resigned, citing lack of transparency and pending legal issues.
- The resignation letter highlighted inadequate support from Byju's management in providing necessary audit information.
- Byju's co-founder Byju Raveendran called the resignation a blackmail tactic, claiming compliance with all auditor requests.
- BDO requested a forensic audit after Byju's admitted insolvency in July and mentioned loss of control over some subsidiaries.
- This marks the second auditor resignation in 15 months, following Deloitte's exit last year over delayed financial statements. 

 Source: [Entrackr](https://entrackr.com/2024/09/byjus-auditor-resigns-over-lack-of-transparency-founder-cries-foul/)

Byju's Auditor Resigns Amid Transparency Concerns; Founder Alleges Blackmail

Journalist

Welcome to Indian Startups's Private Community

Who's on the board of byjus. Why haven't they fired the shit out of him?

Founder’s Office

"BYJU’S grew considerably since our first investment in 2018, but, over time, its reporting and governance structures did not evolve sufficiently for a company of that scale. Despite repeated efforts from our Director, executive leadership at BYJU’S regularly disregarded advice and recommendations relating to strategic, operational, legal, and corporate governance matters. The decision for our Director to step down from the BYJU’S Board was taken after it became clear that he was unable to fulfil his fiduciary duty to serve the long-term interests of the Company and its stakeholders."

https://techcrunch.com/2023/07/24/prosus-questions-byjus-governance-says-indian-edtech-regularly-disregarded-advice/?tpcc=tcplustwitter

This is major - Prosus just publically said that BYJU's had improper governance and failed to improve despite their recommendations

Largest shareholder saying this publicly, I wonder if there is any way of recovering from this point

Corporate Strategist

Investment Associate

Reports of another round of senior executives resigning from Byju's — Chief Business Officer, Prathyusha Agarwal, Himanshu Bajaj, Business Head of Byju’s Tuition Centers, and Mukut Deepak, Business Head for Class 4 to 10. Vet?

- Byju's founder, Raveendran, declared the company's worth as zero after key investors resigned from the board.
- The resignations made it impossible for the edtech firm to raise further funds.
- Raveendran expressed regret over taking the Term Loan B, which he described as the most expensive capital.
- The company is currently undergoing bankruptcy proceedings, with the National Company Law Tribunal initiating insolvency proceedings against Byju's.
- Despite the crisis, Raveendran remains optimistic about a turnaround and insists there has been no fraud within the company.

Source: [Economic Times](https://economictimes.indiatimes.com/tech/technology/investors-leaving-board-was-biggest-setback-byjus-now-worth-zero-founder-raveendran-our-bureau/articleshow/114320123.cms)

Byju's Founder Declares Company Worth Zero After Investor Exodus

News: Byjus appoints Upgrad's ex-CEO Arjun Mohan as it's new CEO

So will the company also be renamed to Mohan's?

Product Manager

Engineering Manager

Welcome to Office Gossip's Private Community

Unacademy CFO Subbu has resigned. Shit doesn't seems to stopping any soon for Unacademy.

How many more folks from senior leadership will have to resign before investors throw  Mr Munjal out of the company?

Unacademy CFO Resigns

Heard that there has been some senior management connect, where in due to financial constraints & lack of new round of funding. Some folks will be asked to leave. 
This is a complete 360 from the conversation they had in Mar’23 where in an appraisal was on the cards

Another layoff at BYJUs

Growth Manager

Welcome to Software Engineers's Private Community

"We have looked at the audited financials and our CFO wanted to jump out the window rather than sign on them. We have therefore decided to not release them at all. Hopefully, people will eventually forget that we promised multiple dates."

Byju decides not to release financials

Founder

- Byju's, once valued at $22 billion, faces insolvency proceedings, likely forcing thousands of employees to quit and shutting down services.
- The company, backed by investors like Prosus and General Atlantic, has faced job cuts, valuation collapse, and investor disputes over corporate governance.
- An Indian tribunal triggered insolvency after a $19 million payment dispute with the cricket board, freezing Byju's assets and suspending its board.
- Vendors may default, leading to a total shutdown of Byju's online platforms, according to CEO Byju Raveendran's court appeal.
- Byju's, with 27,000 employees, became popular during the pandemic for online courses and in-person coaching; the court will hear the case on Monday. 

 Source: Reuters

Insolvency Proceedings Will Force Thousands Of Employees To Quit: BYJU’S CEO

After GoMechanic, now Mojocare is said to cook its books. Is this a trend? and which other companies are showing similar signs?

GoMechanic, Now Mojocare

Content Strategist

Feedback letter from employee to Founders, CEO & CTO

Heartwarming message from ex-Byjus employee to founders.

For details just reply to this email. I will email an excel sheet of all of your failures 
 😂Lmao, that was🔥

First the audit report got delayed. Now they’ve reported a loss of over 4.5k cr. And I believe they’re like a mothership of edtech, if they gone down then the entire category goes down from an investment perspective

What’s happening with byjus?

Software Developer

- Byju's, once valued at $22 billion, faces insolvency, causing panic among employees.
- U.S. lenders seek $1 billion in unpaid dues, leading to a court battle and asset freeze.
- Employees, unpaid for months, consider protests and lawsuits to recover dues.
- India's Supreme Court declined Byju's request to halt the insolvency process.
- Founder Byju Raveendran assures staff of prompt salary payments once control is regained. 

 Source: [Reuters](https://www.reuters.com/world/india/indian-ed-tech-giant-byjus-insolvency-case-fans-fears-employees-2024-08-22/)

Byju's Insolvency Sparks Employee Fears Amid Legal Battles

Three board members resign from Byjus

Byjus has done another round of layoffs today, even VPs and top level managers were affected.
Investors are losing faith in the organization. Looks like the fall of the company has started.

BYJU'S Recent Layoffs

CFO resigning is another sign they may never be able to rebuild their books

So after dodging many bullets Byju's finally goes to Insolvency Trial. 

Does anyone have any news of what's happening inside the company?

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