Byju Raveendran, the CEO and co-founder of Byju’s, has assured an employee that salaries left unpaid for three months will eventually be credited.
The head of the financially troubled edtech firm addressed concerns on LinkedIn, where he acknowledged his absence, sought forgiveness from employees, and refuted accusations against him. The 45-year-old entrepreneur denied claims that his family profited from selling shares, stating that all proceeds were reinvested into Byju’s. He also called for a thorough investigation into alleged fraud involving the firm’s lender Glas Trust, consultancy firm EY, and former resolution professional Pankaj Srivastava, asserting their role in the company’s downfall.
While Raveendran reiterated his commitment to making a comeback, some employees expressed their frustration over unpaid wages. Accused of fleeing to Dubai to evade charges, the former billionaire faced direct questions from employees struggling without pay.
‘Stranded without salaries’
One employee commented on Raveendran’s post, reminding him of his responsibility toward those who remained loyal to Byju’s during its difficult times.
“We hear your passion, but passion doesn’t pay our bills. While you speak of sacrifice, we—the employees who built BYJU’S—have been left stranded without salaries for three months,” wrote Kaushik Lade.
“Our PF remains unpaid. We stood by this company, gave it our best, and now we are fighting just to survive. Please don’t let the people who made BYJU’S suffer in silence. Words inspire, but actions matter,” he added.
Byju Raveendran’s response
In reply, Raveendran assured the employee that the pending salaries would be cleared, though not immediately.
“Bills will be paid, comeback will be made, dues will be cleared. Not immediately, but eventually. I am not fighting for just myself. Till then, you have to rely on my words. Till then, you have my word,” he wrote.
Raveendran’s journey from a small-town teacher to the founder of India’s most valuable edtech company is well known. Born in Kerala, he started as an engineer before discovering his passion for teaching.
Byju’s, founded in 2011, became a household name, especially during the COVID-19 pandemic, when online learning surged. The company saw rapid expansion and secured significant investments, making it India’s leading edtech platform.
However, by 2023, financial troubles surfaced. Reports of delayed salaries, aggressive sales tactics, unfulfilled refunds, and a lack of transparency in financial disclosures tarnished Byju’s reputation. Regulatory scrutiny increased, and investors became cautious as the company struggled to file financial reports on time.