Byju Raveendran, the founder of beleaguered education technology startup Byju's, on Sunday promised a turnaround to rebuild the erstwhile empire from scratch, brick by brick.
'Broke, not Broken. We will rise again,' Raveendran posted on X, alongside a photo of himself as a young man, reflecting his humble roots.
Valued at $22 billion in 2022, Byju's has seen its fortunes dwindle due to massive cash crunch, regulatory issues and disputes with investors, including battle with US lenders who are demanding $1 billion in unpaid dues, triggering the firm's insolvency.
'Once we relaunch our company -- which I believe will happen sooner than expected -- we will rehire exclusively from our incredible pool of former BYJUites. My hyper-optimism may seem crazy to some. But lets not forget that you have to be odd to be number one,' Raveendran posted earlier on X.
Raveendran turned to X on Friday to reveal the 'truth' about the company and the events of the past two years.
"Nothing is ever as good as it seems, nor as bad as they make you believe. The truth usually lies somewhere in between. So Im here to talk about the last 20 years: the good 17, the bad 2 & the ugly 1. No filters. Only facts," said Raveendran.
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