BYJU’S founder and Chief Executive Officer (CEO) Byju Raveendran has extended apologies to students for the disruption caused due to the company’s distress. He hasĀ vowed to compensate them and assured them that the ed-tech company is finding ways to make up for the students’ loss.
In an interview with news agency ANI, Raveendran said that he feels sorry for those students who missed out because the company’s services were disrupted. He then went on to clarify that the disruptions took place in August last year and that the product segment remained unaffected despite that.
“There were millions of students who got our product. Happily learn from the product and finish their courses with the product. The disruption is, if you ask me, the disruption which happened unfortunately, and that’s where I like to apologise to all those students. Even if it’s one student, it still cannot happen,” he said.
“I’m still thinking of how to compensate for those few students. Now this few is not one or two; it’s a few thousand students who missed out because of the disruption. When did the student disruption start? Only from September. Because even in August, our last few crores which we had paid to teachers,” he added.
Raveendran apologised to the affected students once again, saying, “But this kind of insolvency process, which is a rigged process, never happens. thats where you stop paying teachers. So the glass went and took a stay to make sure that salaries are not paid. That’s not the objective of any bankruptcy law. So I feel sorry and I’m apologising to those few students who missed out because services were disrupted.” Click here to watch the interview.
The CEO further emphasised that the main priority of the company despite the challenges was completing the course. He spoke about the pressure to shut down BYJU’S when the company suffered losses and underscored how a good teacher will never leave his students halfway through.
“The product part was not disrupted. The entire course. In fact, when things were going very well for us, unlike, we were not ruthless in cutting the businesses down because you can’t do that when it comes to students. You have to see the course completion, so we didn’t do it. When suddenly all the investors who were asking us to grow, grow, grow – overnight – told us that, okay, markets are changing, now cut and Shut down businesses. I didn’t agree to that,” Raveendran further said.
Speaking about the recent decline of the company caused due to financial issues, regulatory issues, and legal battles, Raveendran said that the last two years have strengthened him.
“Businesses can fail. Business mistakes can be made. But entrepreneurs, true entrepreneurs, they never fail,” Raveendran said.
“The reason why we are not giving up on BYJU’S is because we owe it to the students, teachers, and employees who trusted us. That’s why we’re not giving up. BYJU’s 3.0 will stay true to our original mission,” he added.
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