byjus crisis

Hi, this is Pratik in Bengaluru along with my colleague Pranav in New Delhi.If the first battle in the quick-commerce and food-delivery wars was fought on who can deliver faster, the next one is playing out on who offers more attractive subscription features.On Thursday, Zepto launched ‘Zepto Pass’, its own membership programme, which will offer special discounts and free deliveries to its members for both its grocery and food-delivery businesses. It has started with an attractive and heavily discounted price of Rs 19 to…

Byju’s on Thursday said its founder Byju Raveendran, his wife and cofounder Divya Gokulnath, and his brother Riju Ravindran will not attend the extraordinary general meeting (EGM) called by a group of investors seeking removal of Raveendran as CEO and change of board.The three are the only board members at Think & Learn – parent of Byju’s.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIT DelhiIITD Certificate Programme in Data Science & Machine LearningVisitIndian School of…

Amidst financial turbulence at Byju's, a group of key investors at the edtech have called for an extraordinary general meeting on Friday to oust its founder CEO Byju Raveendran and his family members over "mismanagement and failures" at what was once India's hottest tech startups, sources said. The shareholders, who have called the EGM, collectively hold more than 30 per cent stake in Byju's. Raveendran and family own about 26 per cent in the company. Elevate Your Tech Prowess with High-Value Skill CoursesOffering…

Welcome to a new edition of Full Stack, a place where you’ll find unfiltered commentary on all things technology.Please keep the bouquets, brickbats and suggestions coming. You can reach me at [email protected] and follow me on Elon Musk's Twitter (sorry X) @samidhas.India’s startup ecosystem has been singed by Paytm and Byju’s controversies. Dominant founders and weak boards are a problem. But don’t discount quiet successes.This past week the Indian startup world has been whiplashed like never before. Two of…

The senior management of cash-strapped edtech firm Byju’s told employees that the company has secured commitments to subscribe to more than 100% of its proposed $200 million rights issue of shares.In an email note to employees Friday, the management blamed an “artificially induced crisis” by a select group of investors for a delay in paying the January salary. The salary will be paid in a phased manner starting Friday and will be completed by Monday, it said.Elevate Your Tech Prowess with High-Value Skill CoursesOffering…