Byju's not just my work, my life: Founder Raveendran writes to employees

Byju's founder Byju Raveendran

Byju Raveendran, the embattled founder of India's most valued startup Byju’s, struck an emotional note in an email to employees, as he sought to reassure them amid escalating crises in the last few weeks.

The email, which covered everything from its board exits to auditor resignations to its standoff with lenders, came hours after a town hall where he covered the same topics.

“This company is not just my work; it is my life. For 18 years, I have dedicated more than 18 hours a day to BYJU’S, pouring my heart and soul into this mission. And I want to do this for at least 30 more years,” said Raveendran, in the email sent in the evening of June 29.

Moneycontrol has seen a copy of the mail.

Raveendran's outreach comes at a time when the edtech company is dousing multiple fires from aggrieved employees to angry lenders to departing board members to delayed financials.

In the email, Raveendran clarified that the resignation of its auditor Deloitte was based on a “mutually agreed-upon decision” and did not result in the exit of three of its board members.

However, Raveendran went on to add that the mail was not to suggest that the company is not facing tough headwinds.

“These challenges have presented us with a unique set of circumstances that demand careful navigation and strategic decision-making. However, despite the uncertainties, I assure you that BYJU'S remains resilient and stable,” said Raveendran.

The Byju’s chief did not address issues concerning employee layoffs, and delay in appraisals, variable pay and provident fund disbursements. Raveendran, however, said that the recent layoffs at the company were made as a last resort.

Queries sent to Byju's did not receive an immediate response.

“My heart goes out to each and every team member who is facing the difficult reality of downsizing, a decision that was made as a last resort and with a heavy heart,” he added.

“Tough times may test us, but they also reveal our true strength. I assure you that EdTech is here to stay. We are here to stay. We have not come this far to only come this far,” added Raveendran.