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Once India's most valuable start-up, Byju's is now fighting to survive
The tech giant is teetering on the precipice after investors voted to out its CEO last month.
On 23 February, a majority of shareholders in Byju's parent company Think & Learn (T&L) voted to remove Mr Raveendran as CEO during an extraordinary general meeting (EGM), citing allegations of "mismanagement and failures." In the past year alone, Byju's has faced mounting debt, unhappy investors, lawsuits by lenders, an investigation by India's financial crimes agency, layoffs of thousands of employees, delayed salaries and a liquidity crisis. Public discussion on the Byju's "continues to be in the languages of good and bad corporate management," Sanjay Srivastava, a professor at SOAS University's department of anthropology and sociology, wrote in the Indian Express newspaper.
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