Latest news with #BYJU'S3.0
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Business Standard
18-05-2025
- Business
- Business Standard
Byju Raveendran eyes return via AI model, says students will be compensated
BYJU'S founder and CEO Byju Raveendran has publicly apologised for the disruptions in the edtech firm's services that impacted thousands of students last year, vowing to compensate those affected and promising a comeback with a leaner, AI-powered model. In an interview with news agency ANI, Byju Raveendran expressed regret over the distress caused to students, acknowledging that a few thousand learners missed out on course continuity due to the company's financial crisis. 'Even if it's one student, it still cannot happen,' he said, noting the disruption began in September 2023 when insolvency-related challenges halted teacher payments. Despite this, Raveendran stressed that the core product remained functional. 'Millions of students got our product, happily learned from it, and finished their courses. The product part was not disrupted,' he said. 'I owe them compensation': Byju Raveendran on affected students Raveendran said he is actively working on ways to compensate the affected students. 'Even if one student has missed out in the last six months, I will today apologise to them, but we'll compensate for it.' He defended the company's decision not to abruptly cut operations despite investor pressure. 'We didn't shut down businesses because course completion matters when it comes to students. You have to finish what you start,' he said. New model, same mission: BYJU'S 3.0 to focus on AI Looking ahead, Raveendran outlined his plans for BYJU'S 3.0, an AI-driven platform aimed at making education more accessible and engaging. 'It's going to be the same mission—how do we make it easy and interesting for students?' he said. He highlighted the potential of AI not to replace but empower educators and make one-on-one tutoring scalable. 'There is now an opportunity to almost productise the service part—one personal tutor for every student,' he said. Raveendran claimed that more students are using BYJU'S platforms today than two years ago, with 250 million learners across platforms. 'That's five times more than anyone else—if you can even call them a competitor,' he added. 'Mistakes were made, but we corrected them' Addressing criticism of aggressive sales tactics, Raveendran admitted some errors but distanced the company's philosophy from such practices. 'We were selling the love for learning. A few hundred of the tens of thousands of salespeople made mistakes, but we corrected them.' He insisted that he would never sell anything he wouldn't offer his own child. 'I will never sell any product that is not used at home or something I wouldn't give my son. He learned the fundamentals of math and coding through WhiteHat Junior,' he said. 'We won't give up till we win' The company, once India's edtech darling, has been battling regulatory, financial, and legal headwinds after its meteoric rise during the Covid-19 pandemic. Still, Raveendran remains defiant. 'We are not able to fight this media battle. It's like large corporations on the other side. But we are not giving up. How do you beat a person who never gives up?' he said. Founded in 2011, BYJU'S soared during the pandemic as millions of students moved online. Its crash, as dramatic as its rise, has raised questions about the viability of scale-first edtech models. Raveendran, however, believes BYJU'S 3.0 can spark a fresh beginning—with fewer resources, more technology, and a promise to do right by students.
NDTV
18-05-2025
- Business
- NDTV
"We Don't Belong In Courtrooms, We Belong In...": Byju's Founder
Dubai: Byju Raveendran, founder of embattled edtech giant BYJU'S has for the first time revealed what will be next for his company, BYJU'S 3.0--with a message rooted in purpose over profit. "We don't belong in courtrooms. We belong in classrooms. That's where we started, and that's where we're going back," Raveendran said in an interview with ANI. Raveendran said his focus remains resolutely on students, teachers, and the transformative power of learning. "About BYJU'S 3.0. I am so excited to talk to you about it because we both don't belong in courtrooms. We belong in classrooms. That's where we belong. And these classrooms, being based out of India, are our biggest advantage. It's a country where there is so much respect for teachers, so much respect for learning," Raveendran said. He dispelled notions of personal gain. "I never saw the money come. I never saw it go. We invested everything we had in one mission--BYJU'S. We've invested only in one place in only one mission. We have no other investments. My entire investment is in BYJU'S." Despite setbacks, Raveendran said he believes the responsibility to rebuild lies with him. "The reason why we are not giving up on BYJU'S is because we owe it to the students, teachers, and employees who trusted us. That's why we're not giving up. BYJU'S 3.0 will stay true to our original mission," he said. While remaining tight-lipped about the exact form of BYJU'S 3.0, Raveendran said he is clear on the principles--- leveraging AI to enhance teachers, not replace them, and focusing on uplifting underperforming students. "I am not in a position to disclose what that will be. I can assure you that it will again be built on the same mission, which is to create a love for learning for students. Everything which we'll do will create an impact at a scale which we've not been able to do before," he stated. "I'm stubborn when it comes to the mission. It's going to be the same. How do we make it easy and interesting for students? How can we use AI not to replace teachers but to enable teachers to become better teachers? How can we move the bottom quartile of students to the next one or to the next one?" he added. Raveendran also referred to the company's legal and financial battles. "I'm not blaming all our investors. I'm someone who tries to take every possible hit, but there are a few rotten apples. It's just three or four investors who, in combination with certain lenders, have tried to take control of the company. Some investors, in particular, have attempted to steer the narrative due to concerns about personal liability, especially as the company faced litigation," he said. "They've made more money than anyone could have imagined from BYJU'S, but their attempt to protect their own interests has created this narrative. The origin of this issue comes from a couple of US-based lenders, not from our equity investors," he said. Raveendran acknowledged challenges in the future but said that the mission of the company remains unwavering. "In January 2024, we were about to launch a rights issue, but that was derailed. It's tough to predict whether we can attract the same level of marquee investors as before. And yes, there is some bitterness from the lawsuits, but the mission of BYJU'S remains unwavering," he added. Raveendran emphasised that today's technology allows for the creation of impactful offerings with lean teams, which will be central to BYJU'S growth moving forward. "We are going to build this in a very sustainable way, taking a long-term view, and bringing in external capital only when absolutely necessary. If people are wondering why the last two years have been filled with legal challenges, they will be in for a surprise. This optimism isn't because entrepreneurs are supposed to be optimistic--it's because we've already achieved something extraordinary," he said. Raveendran said that the journey from building BYJU'S from scratch to a USD 20 billion valuation, with millions of students engaged in its learning platform, is a significant achievement no one can take away from the company. "We built this company from the ground up, from 0 to 20 billion, from a handful of students to hundreds of millions. That is something nobody can take away from us," he said with pride. Reiterating his belief, he said, "The reason why we are not giving up on Byju's is because we owe those students, teachers and employees who trusted us. So we owe it to them to bring it back." "Why shouldn't I fight? Why shouldn't I fight to protect what I've built over the last 20 years, what we've built together with 85,000 employees. If there was fraud, we wouldn't have returned thousands of crores. People who engage in fraud take the money and run. But that's not what we've we make a comeback, it will be on the same mission. But we will be more flexible in how we operate. We've learned a lot of lessons along the way," he added. Raveendran addressed the growing narrative that certain aggressive investors and their legal representatives pushed. "You can see for yourself. They're clearly telling there is no fraud, but they are trying to make it look like there is. The goal is to create a narrative." He pointed out that top partners from multiple legal firms representing these investors have admitted privately that there is no fraud but are working to craft a different story. "They are trying to create a narrative that suits their interests. But truth will come out. It takes time in India, but it will come out," he said. The founder went on to acknowledge that, as of now, he does not have control over the company, but his confidence in the eventual revelation of the truth remains unshaken. "I may not have control right now, but I'm certain the truth will come to light. I've always believed in transparency, and at some point, the truth will emerge for everyone to see," he said.
