Edtech Giant Byju's CEO Resigns After Company's Rapid Growth
One of India's largest edtech startups, Byju's, is undergoing a major leadership change as its co-founder and CEO resigns from the top post. Byju Raveendran started the company over a decade ago and led its phenomenal growth to becoming a multi-billion dollar company. However, with the company expanding aggressively both in India and globally through multiple acquisitions, it was time for a fresh perspective at the helm.
Raveendran will continue to be involved with Byju's as he takes on a new role of chairman. He feels this is the right time for a professional management to steer the company in its next phase. Byju's has appointed former Disney executive Brahmanand as its new CEO. Under Raveendran's leadership, Byju's grew to become India's most valuable edtech startup with over 100 million registered students on its platform. The company also diversified its offerings beyond test prep material and closed many large acquisitions.
The management change comes after a funding round that valued the company at $22 billion, cementing its position as the highest valued Indian startup. With its ongoing global expansion plans through new acquisitions and an IPO possibly on the horizon, having a new full-time professional as CEO is deemed the right step. Raveendran will provide his guidance to the new CEO and management team, while focusing on bigger picture strategy as chairman. This transition ensures continuity of Byju's robust growth with professional management helming daily operations.
