'Broke not broken', says Byju's co-founder amid bankruptcy and legal woes

NEW DELHI: Edtech Byju's co-founder Byju Raveendran on Sunday shared a photo from his younger days with a message suggesting he plans to revive the company.
Captioning his picture on X, Raveendran wrote, "Broke, not broken. We will rise again." The post went viral on the microblogging app, gaining more than 600K views and 8K likes.

Byju's, once a leading edtech company valued at $22 billion, is currently facing significant financial and legal challenges and is undergoing insolvency proceedings in the Supreme Court. The company's valuation has dropped to around $8.4 billion, while it faces challenges in repaying a $1.2 billion loan.
A recent US Bankruptcy Court ruling found Byju Raveendran, his brother Riju Ravindran, Camshaft Capital Fund, and parent company Think & Learn guilty of defrauding Byju's Alpha Inc and its lenders. The court cited unauthorised transfers of $533 million in loan proceeds through multiple entities, raising concerns over financial mismanagement.
Raveendran has largely remained outside India since late 2023, well before Byju’s began crumbling under the pressure of investor disputes, escalating debt, and a worsening financial crisis.
In a recent post on Linked In, Raveendran, addressed challenges, expressing regret for not speaking sooner and acknowledging the hardships his family and stakeholders have faced. He clarified that while his family did make money by selling shares, all of it was reinvested into the company. Raveendran revealed that he sold his home and put everything on the line to save Byju's, driven by his all-or-nothing mindset.