Raveendran, who rose to fame with his startup, Byju, has been in the news for all the wrong reasons. The company, which brought a huge change, is now struggling to survive. For those who don't, the Edtech company Byju had a net worth Rs. 17,545 crores in 2023. However, as per the latest Forbes report, Byju's Raveendran is no longer a billionaire.
As per the latest Forbes Billionaire Index, Byju Raveendran's net worth has plunged to zero. It came as a shock as only four people from last year's list dropped off. According to a Forbes report, Byju has been enveloped in multiple crisis and its valuation has been marked down to USD 1 Bilion. However, in 2022, it's value was around USD 22 billion. Forbes said:
"Only four people from last year's list dropped off this time, including former Edtech star Byju Raveendran, whose firm Byju's was enveloped in multiple crises and its valuation was marked down by BlackRock to $1 billion, a fraction of its peak $22 billion valuation in 2022."
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Raveendran founded the company in 2011 and it quickly grew to be India's famous startup. The company became a success in India as it helped students understand the difficult subjects in an easy way through modern technology. The company started with the prime motive of catering to the students need from primary to MBA aspirants. Some claim that Byju's shifted its focus from an education-tech startup to increasing the sales.
According to latest audit, Raveendran's educational company, Byju's losses have risen from Rs. 4,546 crore (2021) to Rs. 8,245 crore (2022). Mentioning the low rise in BYJU'S income, the auditor revealed that the EdTech company has only managed to earn Rs. 5,298 crore (2022) compared to Rs. 2,428 crores (2021), which they earned a year before.
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Talking about his personal life, Byju Raveendran is married to Divya Gokulnath. She is also the co-founder of the startup, Byju. They are one of the most renowned couples in the business world. Divya Gokulnath’s completed her schooling at the Frank Anthony Public School. After finishing her schooling, Divya pursued a Bachelor of Technology degree in Biotechnology from the famous RV College of Engineering.
Talking about their love story, Divya met Byju during her graduation in 2007. Divya had a fateful encounter with her future husband, Byju Raveendran. He was Divya's GRE exam's preparation instructor. In fact, it was Byju, who encouraged Divya to kickstart her career in teaching. She stared her teaching journey in 2008 at the younger age of 21.
What do you think about the shocking turn of events in Byju's life?
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