Meet man who once built Rs 183000 crore ed-tech company, then faced insolvency, lost billionaire tag has now said...

Byju Raveendran, the founder of Byju's, took to X on  Sunday and showed optimism about rebuilding his business "brick by brick" and has promised to rehire former employees once the company relaunches.

“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 let’s not forget that you have to be odd to be number one,” Raveendran had earlier said.

In 2011, Byju co-founded Think & Learn Pvt Ltd with his wife Divya Gokulnath to offer innovative learning programs for K-12 students. The company launched Byju's: The Learning App in 2015, which revolutionised education by combining technology with engaging content. By 2022, the app had over 150 million registered users globally. Byju's became India's first edtech unicorn in 2018 and expanded internationally to markets like the US and UK.

Challenges and Decline

Byju's saw exponential growth during the COVID-19 pandemic, reaching a peak valuation of $22 billion ((around Rs 1,83,000 crore) in 2022. However, aggressive expansion through costly acquisitions and marketing led to financial mismanagement. Regulatory issues and disputes with investors further compounded its troubles. By 2024, its valuation plummeted below $2 billion and insolvency proceedings were initiated against the company.

Who is Byju Raveendran?

Byju was born on January 5, 1980, in Kerala's Azhikode village. His father taught physics, and his mother taught mathematics. From an early age, Byju pursued self-learning and later completed his B.Tech from the Government College of Engineering, Kannur. Initially working as a service engineer abroad, Byju discovered his teaching talent during a vacation in India when he helped friends prepare for the CAT exam. He scored a perfect 100 percentile twice himself and transitioned into coaching students for competitive exams. His classes grew rapidly, from small groups to stadium-sized audiences, leading him to establish Byju’s Classes in 2007.

Byju credits sports for shaping his leadership skills and confidence. He is married to Divya Gokulnath, who is also actively involved in the company’s operations.