Heartwarming message from ex-Byjus employee to founders.

I graduated last year with no job offer from college. And started job hunting, I had 3 internship experiences, still not getting any job. But last December 2022 i got a call from the founder of the early stage startup( bootstrapped), gave a live coding round, and got selected within a day, even in this horrible job market with 7 lpa. Now the amazing part is that the technical co-founder was working as a consultant themself for a company and paying me and 2 other peeps from his own salary and still no expectations of overtime and good flexibility, unlimited paid leave,and then after working there for 9 months, finally the founders got funding but now they decided to move to wfo from wfh(with a considerate increment to employees), with which I was not comfortable because I have to relocate (and I have a medication going on from a very specialized doctor from my city), so decided to part ways. And from the past 3 months, i am job hunting, but not even getting an equal opportunity, those 7 lpa feels like 24 lpa coming from a founder who was working a day job to give me and other that opportunity. This post is an appreciation for all those founders who are working a job or hustling and running a startup in their spare time. Best wishes to you peeps, you may succeed in all pursuits of life. P.s- The founder gave me 6 days salary also which was equal to my first internship stipend.

- 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

Tentatively JAN third week. ( no runway left for Feb) - Employees could be paid in Esop’s valued at 2.7B $ as per internal disscussions. CLE, Content, Tech and product teams are going to be sliced. All products are going to KTLO. This is the final round - post this the company Survives and sticks to K12 until 2026 OR it files for bankruptcy.☹️ Guys this is my last post about Byjus. All the best Soldiers ! 👋

"We don't hunt for #IIT, instead we hire #software #tech #Engineering grads from Tier-2& 3 cities, modest backgrounds" Any employees here by any chance? https://www.wionews.com/business-economy/india-tech-firm-valued-at-100mn-gives-away-33pc-ownership-to-staff-675944

If he gives me ESOPs worth the CEO's shares then sure I would have an entrepreneurial mindset.

If founders care more about customer then they don't have to bow infront of VCs. Customer Obsession >> Funding Obsession

This is for Nielsen Media India and so far my experience. They boast that they are a 100+ year old company yet they are behaving like a startup since most of them were ex-byjus and ex Paytm. And they treat non-byjus folks like outsiders. Here the Indian Team is clueless. There is a guy in our team, who is a senior director and was working at byjus. That guy was a joke, he sometimes asks us please put down the paper and sometimes tries his best to persuade us to stay. And they are saying that they are gonna fire non MTS folks (non MTS means non-byjus) in 2025. So if you are planning to join, please don't join. Micromanagement is at its peak. Scrum calls (Micromanagement calls) are conducted with 69+ folks 😂. God forbid, you have to work with these guys.

Many companies laying off employees while they're hiring parallely, if you know any such companies please share there name....so we don't end up joining such confusing workplace......

Absolutely crazy stuff. To summarize what I read: 1) Byju's apparently transferred $533Mn to Camshaft Capital - a random hedge fund in Miami that was started by a 23 year old, with barely any investing experience. 2) This hedge fund is run out of a building that has an iHOP (yes the food chain). When asked about the whereabouts, nobody even recognizes if the fund actually exists there 3) This fund typically accepts only upto $50Mn. How come Byju's transferred $533Mn to them? 4) 2023 Ferrari Roma, a 2020 Lamborghini Huracán EVO, and a 2014 Rolls-Royce Wraith -> All registered on this fund's papers 5) Now, Byju's lenders have filed a case against Camshaft in the US. Link to original article: https://www.bloomberg.com/news/articles/2023-09-12/byju-s-hid-533-million-in-hedge-fund-camshaft-run-from-miami-ihop-lenders-say#xj4y7vzkg