Edtech firm's founder Byju Raveendran faces reckoning as startup implodes

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Edtech firm's founder Byju Raveendran faces reckoning as startup implodes - Business Standard

Quick Summary:

Potential insolvency is a dramatic turn of events for an entrepreneur described by one person who has worked with him as an extremely passionate and goal-oriented person who might adopt "an abrasive approach" in a crisis.

As he battled crises, the CEO also said decisions to lay off some of its then-50,000 employees and slash branding expenses would help strengthen loss-making Byju's and turn its cashflow positive."Every country needs a Byju's," he said.

Accused of "financial mismanagement and compliance issues", the son of a family of teachers from a small village in south India faces a reckoning that will test the ingenuity that made him a poster child for India's startups.