What went wrong with Byju’s? | Perspective Ep.11 | Faye D'Souza
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- Опубликовано: 28 сен 2024
- India’s blue-eyed startup Byju’s that was once valued a whopping $22 billion has now slashed its own valuation by 99%! What happened to a once flourishing startup that was a darling of investors during the pandemic? From angry parents, to angry investors to angry creditors and angry employees. What went so catastrophically wrong?
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00:07 - The success story
01:05 - Where did Byju Raveendran come from?
02:24 - The dream run between 2015 to 2021
02:56 - The Zuckerberg investment
03:24 - $10 billion valuation milestone
04:09 - Pandemic advantage
04:59 - A lavish marketing spend
06:12 - Byju’s buying spree
06:52 - A massive $1.2 billion loan
07:46 - The start of the downfall
07:52 - The angry parents
09:55 - The angry investors
10:54 - Dwindling revenues
11:55 - Bleeding assets
12:36 - An angry BCCI
13:03 - The angry creditors
14:09 - The angry employees
14:36 - Byju’s begins selling assets
14:56 - ED eyes Raveendran
15:41 - The founder takes a loan on his house
16:04 - Investors seek to remove the founder from board
Producer: Subhankar Singh Samanta
Researcher: Sara Varghese
Video Editor: Subhankar Singh Samanta
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#byjus #ed #sharktank #sharktankindia #edtech #byjus #shahrukh #messi
Do you think the Indian start up story is over? Or even changing now?
Are there any common links between the falling giants who were once stars of INDIAN STARTUPS......
If startups expect to run on VC funding then yes
Need more such content
I don't think the failure of one unicorn reflects the Indian startup scene. We are slowly beginning to see oreign investors considering India as a serious market. For every Byju's, there are many companies keeping their heads down and getting the fundamentals right which are exciting times for India!
Not really. But I think VCs will do a lot more due diligence
no bakwaas. no opinion. plain informative 15 minutes. Thank you Faye
Byju's lacked something called - "Common Sense"
No they had something more called CoNman sense .
They lacked compassion, towards their employees towards the poor parents of the students who couldn't afford their courses.
Would love to see more business and finance related stories more often😊
Faye ma'am, your channel treads the fine line of not alienating people who are unaware while also not providing just basic information, very skillfully.
True
Also your ability to tell a story is incredible. This was very close to the experience of listening to a well narrated audiobook
He tried to grab more than he can chew .then he is just another business minded person with greed and skyhigh ambition .COVID boom actually made him worst
Great overview. I have friends who worked for Byjus and were deeply disgusted at the things they had to do. The technologisation of education will only be exploitative and counterproductive as long as people see education as a business venture.
PS: please consider not using AI generated art? Even crude stick figures by a friendly schoolchild would be preferable.
Well said...
Amazing case study! Reminds me of IIPM and Arindam Choudhury news breaking out a few years ago. Perhaps startups like we work, byjus etc all can be studied to understand the similarities (although operating in varied contexts) in their downfall. In the end, it hurts the common people and employees most who were promised so much.
Thanks Faye for your efforts in dumbing it down for us 👍😊
Ironical, that the company that grew on the foundation of teaching Maths to many didnt have a cfo and blamed their financials on bad accounting practices 😂
I'm glad you liked the video!
Super presentation. I have watched a dozen videos about Byjus, but this one is the best!
By the way, I wont blame byju for this situation. I will put the blame on the investors.
I'm glad you liked the video!
It was doing its business fraudulently and blowing their revenue recklessly. Please keep the business news coming please. This is very well explained.
Like you said, this will definitely have a massive impact on the Indian Startups. Pretty sad how such a promising company has gotten here today.
Faye Ma’am you have nailed it .. If start ups go beyond their core competency …. cut corners .. they should be ready for investors to get after them … its not that starts up are not doing well … they have to take their investors in confidence in each and every decision if theirs … then they will succeed .. otherwise there will more like Byjus who will fail
Brilliantly structured Faye .....yesterday a couple of guys were talking about BYJU's downfall .
Thank you!
Very comprehensive narrative.. loved it
Glad you liked it!
I love the way news is shared like a story, which makes it easy for people like me, who aren't that good at understanding finance.
Thank you so much!
Beautiful and concise. Just what I needed. Detailed enough and just about simplified enough.
Glad it was helpful!
Thankyou for this piece. Very well explained and I would love to watch more of such business stories.
Thank you so much!
Such a shame , all bcoz he wanted to earn money fast.
Definitely would be more interested in the politicoeconomic news of yours😊
Excellently portrayed, snapshot of an entrepreneurial downfall.
I can feel the growth process and the fall quite emotionally, with your choice of words, expression and tone.
You are a breath of fresh air in today's polluted environments(include journalism as well)!
Real shambles after running a company with no ethics and integrity. No accounting practices followed. Bound to fail!
Thanka for creating this detailed Video Faye. This needs a lotnof efforts.
In my personal opinion the biggest 3 problems I saw in this company were.
1) It appeared to me a ponzi scheme. As it had all the ingredients of it, aggressive marketing, aggressive sales, and people forcing their friends and family for referrals. What else is a ponzi scheme?
2) Its aquisition of Aakash which was an established and most successful brand in its area. This was alike a biggest moral mistake just like Ravan kidnapping Sita. Eveeything starting falling thru the cracks after it and similarly for Byju as well.
3) I have never come across any video or article or a post by its founder whereinnhe discussed about education and how he is making a difference.
Thanks Faye; the story is well summarised and presented. Perhaps the presentation can be supported with timeline visuals or such, as well.
Awesome work. Precise and full of information. Love from Canada ❤
The byjus content is still good. Hope someday our NCERT books learn a thing or two from Byju’s content
Excellent video Faye. Somehow I feel like that growing up in the 80s, I managed to escape the pressure cooker that is education today. Sure there was competition, and there was stress, but nothing at the levels today.
A gentle suggestion: the background music is distracting. I don’t think it added to the content in any way and in fact some what diluted the import of the topic. Thanks.
Find it appalling that investors continued to pump in money without any due diligence. Money doesn’t talk. One needs to have the wisdom and capability to assess, guide, execute and course correct. The investors are as much to blame as the founders in this sham
Very well articulated and pleasant viewing experience
Thank you Faye. Very well written and narrated content.
Glad you liked it!
Glad you liked it!
Very clearly explained. Keep it up
Thank you!
Randomly came on this site..❤️ it..Great story telling..Bingewatching it now
Thank you Faye, for the befitting report.
Glad you liked it!
Brilliantly articulated...
Thanks!
I have not received any materials after payment in may
The video is great and the content is to the point… It would have been better presenting all the numbers in either USD or INR…
One issue I see with Indian start ups is - As soon as they see a significant revenue being earned, they lose their senses. They start behaving like a poor person who suddenly won a lottery. Such lottery winner would start buying crazy stuff (like an expensive sports car or a huge mansion) without accounting for the recurring costs and the long term effects. A person who has never seen or handled a significant sum of money goes bonkers when he/she is suddenly given so much money.
I think Indian Start Ups are the same. They are all about Grow, Grow, Grow even if it means sacrificing the quality of their products, even if it means a deteriorating customer satisfaction, even if it means an unsustainable level of debt, even if it means mindless hiring of unqualified people. That is where the problem starts. When a talented entrepreneur from a third world country like India suddenly starts seeing big money, he/she loses it.
These things happen with entrepreneurs in the west too, but not to the extent of India. They are more level headed, have a long term thinking.
Getting to the top and Staying there are two different things.
One of the legend from Kerala in this generation we have seen in India
Really informative and simple video. Totally worth it👌🏻
I think I'd love more of such business news to understand the strategies that have worked or failed for businesses to takeaway some learnings and case study to introspect on.
Excellent work
"edtech", glorified coaching centres
Mark trucker (berg) or trucker-bug (as it could be in China). In the late 1980s I was at the Free Press Journal and Indian Express at Bombay and because of the Metei Manipuri underworld connection was in an motor accident at Madam Cama road. Of late the TOI building at ITO in Delhi is gone for good and the TOI is now at the IE building next door. Because of the Delhi police system I was pushed out of Delhi and worked for someone in Manipur who was with the Delhi TOI named Pradip Phanjoubam (I think he had something to do with the WTO plane crash in America). They tried to kill me three times in the past two years I am in New Delhi and because of that now I know. I thought I'll tell your news channel.
A correction please -His parents were from Kannur in Kerala not Conoor".
There many startup’s in India which have gone up very quickly and come down the same way.
good coverage faye ji
Thanks!
finally 2023 telled us all nothing is too big to fall
wish to see you on TV as lead news anchor as we like your aggressive assertive and balanced style of presenting 😊
Excellent reportage ❤
More videos like this, less videos on politics.
Zomato/Swiggy are also on the same low-profit/high-borrowing path, with shady and shoddy business practices.
They're yet to explode, just wait and watch.
Byju's has illegally diverted lot of funds in US and elsewhere. That definitely will all go back to 'legendary' Byju and his 'legendary' wife. Chors.
Sheer greed.if education is his focus what is the need to squander money in IPL.
Hi Faye......the same was met by mt edutech i.e. Mahesh tutorials. Please try doing a comparative study of this case too.....see if there are parallels. BTW where is NIIT today....also apple edutech.
Can you make a video about CricHQ? It’s a story which not many people know
Conoor is not in Kerala. Its in Tamilnadu
😮 I'm smitten by your charming intellectual.
Can you please highlight the number of public reality listed companies that have collapsed in last 10 years
It will help investors and home buyers to protect their hard earned earnings and be protected from builders who spend high on advertising and sell aggressively
Okay, Faye. Nice of you to make this video. But please do get a fact check. Think and Learn started with CAT prep, the selling point being Byju had cleared the CAT exam in the top percentile. It diversified to k-12 much later. I know this because I worked there during the transition.
Greediness leads to down fall of Byju’s
Byju's had been sending me a gift(dairy & card) on my birthday for the past 5 years - this year they didn't, I wondered why.
Customer is king in any business for that matter
I was always suspicious and sceptical of Byju's business model and its vision of education. As a learning professional, there are several flaws in its pedagogic approach which commodifies education for schools. No matter your starting point in life, beware of where your talent will take you
Unfortunately in India…being a dis -honest or with immoral values ….such people thrive!….it percolates down from the highest offices of the PM all the way down upto an ordinary citizen !!!
Is there anyone Who purchased Online Byju's SSC English batch course and now couldn't find any recent online classes and couldn't contact anyone reg this? I am enquiring reg this, but there is no proper response. Same situation anyone?
It is simple. They offered parents free return and instead they made them sign emi letter. My cousin was falsely made into sign and they has to pay a monthly emi regardless of using it. Pathetic service and backlash from middle class parents
It's Kannur not Kunnoor. It's a district in North Kerala.Please correct pronunciation
ByJus was overvalued, though the content was good. Intelligent students would never use Byjus, as lots of free content available online.
So??? greed isn't that good !!!!
❤
Hi. I’m Karn Kowshik’s mom. We met in Hyderabad.
Yes, I like your Business stories- but I don’t think you should stretch yourself too out.
Maybe specialise.
One who can ... does
One who cannot... teaches.
Students becoming teachers
And in turn their students become teachers and in turn... that continues. What kind of an economy is that ?
They have fooled lots of poor people, without letting them know they have made them sign loan application for buying the courses
Ek 💪 Akela Byjus sab pe bhari🤑🎅👀😹
Byju's was always a scam. They had a really crappy product, never delivered on the promises, and relied on its predatory sales team and probably some creative accounting to create a show of good performance.
👍👍
Media ne sar pe chadhhaya...ab reality dikh rahi hai.
They lacked ethics .
The startup ecosystem needs to be looked closely. Many players here at fault. In a nutshell, if a startup doesn't make money today, it's highly unlikely they will ever make money, throwing money to grow doesn't grow the profit but the grows the losses as well. Any startup or business where the product or service is not free, this formula has failed. Social Media networks, free and they make money today, but you take another business where pll have pay for the product or service, if they don't make money now, they won't later also. Show me 5 names and we talk on it, I would really want to know :). And finally what's wrong with the startup ecosystem from a founders point, starting a business with an exist strategy, that itself is so wrong, who would want to sell a money making business ??? And if you start with keeping in mind I will sell this and let someone else fig out how to make money, won't work.
i dont like the name Byju`s ...... turn off for custome r
Please stop using AI generated images. Or specifically mention that they are AI generated.
Im glad they failed. The way the customer care representative pressured us.. we lost our peace of mind for a week.. I finally stood up and said NO
Any company SRK sponsors tanks. 😂
I I T se I T I fir Kabadi ki dukan mein welding re Byjus Pappu bana ke Road pe chod diya .
.
Startup or a Jumla or a Fraud
Byju is scammer
Byjus😂😂😂👎
Ravindran took a loan of 12 million dollars against his 3 houses ? Where was he living , in Taj Mahals? He milked his customers and the investors and is now paying the price for his greed. Zero sympathy for him and his family.
💯
The harm like these guys do to education is even more than they do to business.
Various reason of its fall
1) Jio 4g cheap rate
2)Bad practice loan on std w/o any knowledge
3) Not considering cx feedbck only fake sale force sale
3) Inhumae practie with employee force work calling etc
4) Too much spending on the marketing instead of quality
Very easy to understand for people like me who find it difficult to follow financial news. Thank you. i shared this link in my family whatsapp group and discussing goIng on over thus topic 😁
Great piece Faye! News the way it’s meant to be! Fascinating how a similar personal story led Sal Khan to build Khan Academy - absolutely free, no superstar endorsements and compelling content!
The parents curse of getting fooled by Byju was the main reason for their downfall
“Greed” & “ignorance” to sum it up.
This is great breakdown!
I think they fell into bad company and got bewildered from there. That SRK sponsorship was inignorable red signal.
Founder was talented but the staffs were NOT.😂😅😂😅