'If we were sitting on $533 million, this would not be the situation, right? We would have been fighting in the courts. We would have thrown money at lawyers,' Byju's co-founder Divya Gokulnath said.
The EGM scheduled for March 29 will include a vote on increasing Byju's' authorised share capital which will give effect to the rights issue floated by the company to raise funds to tide over its massive liquidity crisis
Court prohibits further movement or use of $533 million which the edtech owes to its overseas lenders
The investors alleged that the company's move to call for rights issue is illegal and contrary to law and sought a stay of it, while the board of directors of the company argued that the investors were creating obstructions to the company
The plea will be heard by a bench of judicial member K. Biswal and technical member Manoj Kumar Dubey. This is the fifth plea filed against Byju's in NCLT and fourth filed in 2024.
Calling it 'Math concerts', Byju's co-founder Divya Gokulnath said that Byju Raveendran took classes in stadiums such as the Indira Gandhi Indoor Stadium in Delhi and turned them into 'world's biggest classroom' with 25,000 students.
Byju's move to constitute a new advisory committee and rope in Pai and Kumar comes just a few weeks after its three key board members and its auditor resigned.
One employee said that after the townhall they have newfound confidence: 'We didn't come this far to just come this far.'
The note was shared by Byju co-founder Divya Gokulnath on her Instagram story, who said her heart was filled with gratitude and happiness.
Byju’s will also leverage these platforms to improve the teaching abilities of its tutors as the company would conduct audits of content using AI, which will lead to more efficiency, and thus Byju’s would be able to save costs on that front
As a successful woman entrepreneur in the tech industry, Divya Gokulnath is using the trend to push the envelope on what a Barbie can represent.
Divya Gokulnath on growing up in a family where sports was integrated into everyone's routine, her approach to wellbeing and the importance of being seen as a woman leader.
Byju's founder Byju Raveendran has been married to Divya Gokulnath for over a decade and couple are parents to two sons.
Byju Raveendran said, 'She (Divya Gokulnath) used to stay back and ask a lot of questions so she got noticed and I don’t know when it changed and we became life partners.'
Gokulnath's optimism about the hybrid learning model comes at a time when Byju's is looking to expand its offline footprint by opening more hybrid centres, owing to dwindling demand for pureplay online learning, which was the company's mainstay until last year.
Gokulnath’s comments on the IEC improving advertising standards come at a time when her company, Byju’s, has come under fire for alleged mis-selling of courses from parents and students.
Byju Raveendran said that the company is experiencing continued momentum in demand for its core business, which is online K-12 learning, even as some of the company's closest competitors are witnessing slower growth following the pandemic.
In a chat with Moneycontrol, Bjyu’s founder Byju Raveendran and co-founder Divya Gokulnath exuded confidence about turning profitable on a company level over the next quarter. They also spoke about exiting some branding contracts to optimise costs.
Byju's currently has three large branding partnerships with the BCCI (Board of Control for Cricket in India), ICC (International Cricket Council), and FIFA (Federation Internationale de Football Association) that will be up for renewal, but the company will not renew any of them, according to co-founder and CEO Byju Raveendran.
Raveendran also claimed that by the end of this quarter or by the next quarter FY24, Byju's will turn profitable on a company level
Sadya Nadella, Divya Gokulnath said, believes in leading with empathy.
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Divya Gokulnath's post comes days after Byju's faced backlash for signing Lionel Messi as a brand ambassador soon after laying off 2,500 employees.
Consumer Affairs Secretary's move to take note of the redressal of complaints comes at a time when edtech companies in India have been under fire for alleged mis-selling and overselling to parents and learners.
Addressing the layoffs, the Divya Gokulnath said: “Sometimes what Byju and Divya want is not what BYJU’s as a company wants.”