Welcome to Byju’s: The Learning App Blog!
Are you curious about the latest buzz surrounding Byju’s, the embattled edtech startup? Well, here’s the latest scoop – 62 employees have taken a bold step by issuing a demand notice of over Rs 2.3 crore to the company. The reason? Unpaid salaries and dues dating back to January. This move was initiated by Bengaluru-based Canvas Legal.
This development comes on the heels of a series of controversies that Byju’s has faced, including a significant drop in valuation, top leadership departures, legal battles with investors and vendors, and layoffs over the past two years. The company’s spokesperson has not yet responded to the queries raised by TOI.
In a bid to address the financial challenges, Byju’s founder Byju Raveendran recently met with 1,500 sales associates and managers to discuss new strategies around salaries, sales, and product pricing. These steps are expected to breathe new life into the business amidst a severe cash crunch.
Stay tuned for more updates on Byju’s as the saga continues to unfold!
