The company 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.
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…
