Byju Raveendran in a State of Crisis Following Raids 

Byju Raveendran, the founder of India’s major educational firm – Byju’s, is feeling the heat of his company’s future as their investors around the world lose faith in him. The recently occurred events have put the planned investment of $1 billion from the middle east in jeopardy, which caused Raveendran to have a breakdown in his apartment in Dubai, where he was present when the raid took place, as per a Bloomberg report. He has been in crisis mode for months now, ever since he was accused of hiding half a billion dollars by American investors.

Jacob Matthews, the investment banking chairman ad Incred Capital Ltd., said about the current situation of Byju Raveendran saying, “If the situation is not contained quickly and guardrails are not put in place at Byju’s, it will affect India’s image as an investment destination among overseas funds.” Prosus NV, who is one of the earliest investors of Byju’s, has stated that poor management of the company leadership has brought it towards crisis. While the details found in the raids on Byju’s are yet to be made public, the company’s future remains uncertain.

Image source: PTI