Byju Raveendran News: Byju's founder Ravindran said – I am not a fraud, I will make a comeback, know what he told the investors…

Byju Raveendran News: Byju Ravindran, founder of edtech company Byju, which is facing financial crisis, said that in difficult times, colleagues left him, due to which the condition of the company worsened. Ravindran said this in the virtual media briefing.

During this, he talked about many issues including the worst phase of his company, net worth being zero, dispute with BCCI, raising funds, reasons for leaving India and living in Dubai.

I am not a cheater, If I had, I would have taken out all my money.

Ravindran said that his company is not fraudulent. He said that we have not committed any mistake intentionally. No fraud has been committed.

If it was a fraud then the founders would have withdrawn the money. I don't invest all my money in the company. He said, 'I don't want to give any deadline, but I will be back.'

In May 2023, three big investors of the company – Prosus, Peak XV Partners and Chan Zuckerberg Initiative simultaneously resigned from the board. This decision was the biggest blow for the company.

The company had projected rapid growth in the next two to three years and under pressure from investors, the company adopted the path of aggressive growth, which proved to be a big mistake. Due to this, today the net worth has become zero.

Ravindran started his career as a mathematics teacher.

Byju Ravindran started his career as a mathematics teacher. When he founded Byju's in 2011, it became the fastest growing startup.

The company had stated its valuation in 2022 to be $22 billion i.e. about Rs 1.84 lakh crore. BYJU'S provides coaching to students from primary level to MBA.