So confusing ?? Govt seems after promoter

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What’s happening at byjus

Software Engineer

What’s happening at byjus- Grapevine

I hear tales about how at their peak, BYJU's used to deal with investors. 
They would not share financials. If you wanted to invest, they'd ask you to come down to office, and only for that time, see whatever you want to see. 

Investors obliged. It was the shining star of Edtech India, nobody wanted to miss out. 

Now those same investors are ousting the founder, fair enough.

But I hope enough people look back and realize they created the problem. They allowed it to exist.

BYJU's: Wasn't it always gonna happen?

Analyst

"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

Wtf is happening at Byjus?

Too many issues surrounding the company. Think it’s pretty brave of them to agree to being slaughtered in the open.

Byjus founders AMA on Wednesday

Journalist

Welcome to News Discussion's Private Community

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

What could they do to undo this downward spiral?

How long before Byjus runs out of funds?

Product Manager

Earlier used to see a lot of stuff Byju's on GV. Seems like either everyone has left, or they've asked employees to not say anything

Any Byju's employees still around? What's happening there?

Growth Manager

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Ask me anything about Byjus

Engineering Manager

https://www.ndtv.com/business-news/byjus-faces-total-shutdown-if-insolvency-proceeds-says-ceo-byju-raveendran-6141875

Byju’s on the verge of shutdown

Chartered Accountant

Welcome to Software Engineers's Private Community

1.EGM meeting starts at 9 am
2.Allegedly Byju/pro Byju supporter leaked the zoom call meeting.
3.Random folks joined the meeting.
4.Whistles, hooting and sharp noises for next 45 mins.
5.Participants are asked to leave: They bombard chat with “we want byjus sir”, “byju is the heart of the company”
6.Meeting gets called off
7. 4 key investors file a suit at NCLT at 1 pm

[Byju vs Investors] Zoom call phishing LAFDA

The byjus episode is as good as a Bollywood masala movie 🍿

What made it worst? The pay, the culture, or your manager?

What's the worst company you have worked for?

ICICI Bank, they had a strict sign in timing policy where if you are late to corporate office, half day salary would be cut, It would be reversed only when manager approves. The sign out time used to be 5.15pm, but you would be made to sit till 8 pm by most of the managers even if your job is done for the day. A sign out at 6 pm used to be called as half day by most of the managers. 
 I heard now they donot have this dictatorial policy.

Data Analyst

- 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/)

What’s happening at byjus

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