Dubai:
Byju Raveendran, the founder of the founder of Edtech veteran Biju has revealed for the first time what will happen next for his company, with a purpose with a purpose with a purpose with the 3.0 of Byju.
“We are not in the court room. We are in classrooms. This is where we started, and that is where we are going back,” Raveendran said in an interview with ANI.
Ravendran said that his focus is fully on students, teachers and transformative power of learning.
“About Bayju’s 3.0. I am very excited to talk to you about it because both of us are not in the court room. We are in classrooms. This is where we are. And these classes are based out of India, our biggest benefit is. It is a country where there is a lot of respect for teachers, so much respect for learning,” Ravendran said.
He removed the perceptions of personal gains. “I never saw the money. I never saw it. We invested everything we had in a mission. We have only invested in only one place in one mission. We have no other investment. My entire investment is in Byju.”
Despite the failures, Ravendron said that he believes that it is the responsibility of reconstruction of lies with him.
He said, “We are not giving up on Bayju, because we trust it on students, teachers and employees who have trusted us. So we are not giving up. Bayju’s 3.0 will be right for our original mission,” he said.
Buju’s exact form of 3.0 remains tight-tight, Ravendran said that he is clear on principles — taking advantage of AI to increase teachers, does not replace them, and focuses on uplifting underperforming students.
He said, “I am not in a position to explain what this will happen. I can assure you again that it will be again made on the same mission that students have to create a love to learn. Whatever we will do will create an impact on a scale that we have not been able to do before,” he said.
“I am stubborn when I come to the mission. It is going to be the same. How do we make it easy and interesting for students? We can use AI not to change teachers but to become a better teacher? How can we move the lower fourth of the students for the next one or the next one?” He said.
Ridendran also referred to the company’s legal and financial battle.
“I am not blaming all my investors. I am someone who tries to take every possible hit, but some rotten apples. It is only three or four investors who have tried to take control of the company in combination with some lenders. In particular, some investors have tried to run the story due to concerns about personal liability, especially the company said.”
He said, “He has earned more money than any person, but his attempt to protect his own interests has created this story. The issue originates from a couple of US-based lenders, not from our equity investors,” he said.
Ravendron accepted the challenges in the future but said that the company’s mission is unbreakable.
“In January 2024, we were about to launch an right issue, but it derailed. It is difficult to guess if we can draw the same level of marki investors as before.
Ravendron emphasized that today’s technology allows the creation of influential offerings with lean teams, which will be central for the development of Bayju.
“We are going to make it in a very durable way, taking a long-term view, and only bring only external capital if necessary. If people are wondering why the last two years have been filled with legal challenges, they will be for a surprise. It is not optimism because it is not optimism because entrepreneurs are considered optimistic-because we have already received some extra,” said.
Ravendran said that traveling for an evaluation of USD 20 billion from Bayju’s scratch, is an important achievement to millions of students, engaged in their learning platform, which no one can take away from the company.
He said, “We made this company from 0 to 20 billion, a handful of students from land for hundreds of crores. This is something that cannot take away from us,” he proudly said.
Reiterating his belief, he said, “That’s why we are not giving up on Bayju because we give us to those students, teachers and employees who have trusted us. So we favor them to bring it back.”
“Why shouldn’t I fight? Why should I not fight to save what I have created in the last 20 years, what we have created together with 85,000 employees. If there was fraud, we do not return thousands of crores.
Ravendron addressed the growing story that some aggressive investors and their legal representatives pushed. “You can see for yourself. They are clearly telling that there is no fraud, but they are trying to make it as if there is there. The goal is to make a story.”
He said that the top partners of many legal firms representing these investors have privately admitted that there is no fraud, but working to create a separate story.
“They are trying to create a story that is in line with their interests. But the truth will be revealed. It takes time in India, but it will come out,” he said.
The founder admitted that, so far, it does not have control over the company, but his faith in the last revelation of truth is unheard.
He said, “I can’t have control right now, but I am sure the truth will be revealed. I have always believed in transparency, and at some point, the truth emerges to see everyone,” he said.
(Except for the headline, the story has not been edited by NDTV employees and is published by a syndicated feed.)
