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<ul><li><keyword id="1702989" type="PERSON" weightage="20" keywordseo="Byju-Raveendran">Byju Raveendran</keyword>’s net worth stood $1.91billion. </li><li>His fortune from 21% stake his namesake ed-tech startup — Byju’s. </li><li>The startup has been growing at a breakneck speed with its revenue climbing to ₹1,430 crore in FY19</li></ul>Byju Raveendran is the newest entrant into Forbes rich list of 2019. “There are six new faces this year, including Byju Raveendran, the 38-year-old founder of fast-rising edtech unicorn Byju’s,” <a href="http://www.forbesindia.com/article/india-rich-list-2019/india-rich-list-2019-mukesh-ambani-dominates-adani-kotak-make-big-gains/55657/1">wrote</a> Naazneen Karmali from Forbes Asia. The other new faces include Manohar Lal and Madhusudan Agarwal of Haldirams, Rajesh Mehra of Jaquar, and Samprada Singh of Alkem Laboratories. <a href="http://www.forbesindia.com/lists/india-rich-list-2019/1807/all">Byju Raveendran’s net worth stood $1.91billion</a>. His fortune from 21% stake his namesake ed-tech startup — Byju’s. He recently joined<a href="https://www.bloomberg.com/news/articles/2018-12-17/india-s-byju-s-raises-540-million-in-naspers-backed-funding"> India’s billionaire club</a> — thanks to the latest round of $150 million funding from Qatar Investment Authority (QIA). The startup has been growing at a breakneck speed with its revenue climbing to ₹1,430 crore in FY19, <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/byjus-claims-to-have-tripled-its-revenues-to-rs-1430-crore-in-fy19/articleshow/69590594.cms">according to an Economic Times report.</a> Here's Byju Raveendran’s journey from a school teacher to becoming India’s youngest self-made billionaire: 
	
	
	
	<div type="Slideshow" msid="70550887" hostid="261" title="The remarkable journey of Byju Raveendran from a teacher to a billionaireThe remarkable journey of Byju Raveendran from a teacher to a billionaire" firstImageMsid="70551027" slideCount="6"></div>

Byju Raveendran is the newest face on the Forbes list of 100 richest Indians

<ul><li>India's billionaire club added a new member, <keyword id="1702989" type="PERSON" weightage="20" keywordseo="Byju-Raveendran">Byju Raveendran</keyword>. </li><li><keyword id="299516" type="PERSON" weightage="20" keywordseo="Raveendran">Raveendran</keyword> holds more than 21% stake in the Bengaluru-based educational technology and online tutorial firm, which makes him a billionaire. </li><li>He started his journey as a teacher. </li></ul>Last week, India's billionaire club added a new member, <keyword id="2900267" type="PERSON" weightage="20" keywordseo="Byju">Byju</keyword> Raveendran, the 37-year-old tech-entrepreneur who is changing the way students are coached in India. The latest round of $150 million funding from <keyword id="6437412" type="COMPANY" weightage="20" keywordseo="Qatar-Investment-Authority">Qatar Investment Authority</keyword> (QIA) has hit $6 billion valuations, making its Founder and CEO Byju Raveendran the newest billionaire in the country. Raveendran holds more than 21% stake in the Bengaluru-based educational technology and online tutorial firm, which makes him a billionaire. 
	
	
	
	
	
	
	<div type="Slideshow" msid="70550887" hostid="261" title="The remarkable journey of Byju Raveendran from a teacher to a billionaireThe remarkable journey of Byju Raveendran from a teacher to a billionaire" firstImageMsid="70551027" slideCount="6"></div>















 (with IANS)

The remarkable journey of Byju Raveendran from a teacher to a billionaire

<ul><li><keyword id="1702989" type="PERSON" weightage="20" keywordseo="Byju-Raveendran">Byju Raveendran</keyword>, 37, is one of the youngest billionaires in India with a net worth of $1.7 billion. </li><li>Byju’s, which made its content available for free during the coronavirus, saw an immediate 3x increase in the number of users. </li><li>The edtech startup is in talk to raise as much as $400 million fresh capital. </li></ul>Byju’s is one of the rare Indian unicorns that will continue to bring in revenue, even during the Covid-19 pandemic. In fact, it has the pandemic to thank for a massive boost in numbers. In 2019, the founder Byju Raveendran became one of India’s youngest billionaires with a net worth of $1.7 billion, according to Forbes. And now, as the startup eyes a $10 billion valuation, 37-year old Raveendran’s net worth is set to see a jump for his 21% stake in the company. Investors are betting big on Byju’s as the startup continues to see a meteoric rise. Byju’s, <a href="https://www.businessinsider.in/business/startups/news/byjus-adds-6-million-new-students-in-a-month-after-the-nation-goes-into-a-complete-lockdown/articleshow/75009408.cms">which offered its content for free to students</a>, during the lockdown period, saw an immediate 3X increase in the number of users. As many as six million new students joined the platform in March alone. Byju’s app and website have witnessed a 150% increase in traffic in March. I<a href="https://www.businessinsider.in/business/startups/news/the-funding-chart-of-byjus-the-startup-that-gave-mark-zuckerberg-a-7x-return-on-investment-and-is-worth-8-billion/articleshow/74132786.cms">t is the third most valued unicorn in India</a> with over 50 million students using its platform. The latest round of $200 million funding from New York-based Tiger Global Management valued Byju’s at $8.2 billion. Road to $10 billion Byju’s is getting ready to enter the decacorn club — a startup with $10 billion or more valuation— which currently houses only Paytm and Oyo. If the fresh rounds of funding comes through, there will be a 20% increase in its current valuation. It will then become the second most valuable startup in the country after Paytm. According to <a href="https://techcrunch.com/2020/05/01/indian-education-startup-byjus-is-fundraising-at-a-10b-valuation/">TechCrunch</a>, Byju’s is in talks to raise as much as $400 million. It has raised more than $1.3 billion till date from investors including Facebook founder Mark Zuckerberg. While some may question that Byju’s will not be able to retain its users after lockdown ends, Raveendran is optimistic. He says Byju’s might earn <a href="https://www.indiatoday.in/business/video/india-today-e-conclave-paytm-oyo-and-byju-heads-brainstorm-tips-to-survive-the-pandemic-1675139-2020-05-06">as much revenue as</a> it earned in pre-covid time. “Since we have good fundamentals we will continue to attract investors not just from China but from all over the world. Last year, close to $11 billion flowed into Indian start-ups. Maybe 6-12 months down the line you will see investors come in. The Indian ecosystem is maturing fast,” <a href="https://www.indiatoday.in/business/story/e-conclave-brainstorm-paytm-oyo-and-byju-chiefs-on-how-start-ups-will-survive-covid-19-1675103-2020-05-06">Raveendran told India Today in a panel discussion. </a> The billionaire guru It was only a decade back, when Raveendran aced the Common Admission Test (CAT) with 100 percentile and decided to ditch his 2-year old career to open an ed tech. He wanted to become the founder of ‘<a href="https://www.rediff.com/business/interview/how-byju-built-the-worlds-highest-valued-edtech-company/20190116.htm">largest education company in the world</a>’ — a dream that might become true if things go as is. There were hardly any learning apps available when Byju’s started its operation and now it rules the online education market. Within three years into business, Byju's tripled its revenue to ₹1,430 crore in the financial year 2018-19 and also turned profitable on a full-year basis. It was also one of the handful startups to <a href="https://www.businessinsider.in/business/startups/news/byjus-vs-oyo-vs-swiggy-profit-and-loss-in-2019/articleshow/72864443.cms">report a profit of ₹20 crore in FY19</a>. It also cut down its losses by over 76% to ₹8.8 crore from ₹37.1 crore in FY18. And now, the edtech founder is only greedy for more. As India accepts the ‘new normal’ of online education, Raveendran, believes the growth that has not happened in years is going to happen in months. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/14-indian-edtech-startups-raised-funds-amid-the-covid-19-pandemic/articleshow/75667869.cms">14 Indian edtech startups raised funds amid the COVID-19 pandemic⁠</a>

Byju Raveendran – one of India’s youngest billionaires may only get richer even during the coronavirus lockdown

<ul><li>The <keyword id="8205065" type="UNKNOWN" weightage="20" keywordseo="forbes-100-richest-indians">Forbes 100 Richest Indians</keyword> list puts Shiv Nadar on top as the country’s richest tech billionaire worth $14.4 billion. </li><li>Wipro chairman Azim Premji ranks second with a net worth of $7.2 billion. </li><li>The list also sees the debut of Byju Raveendran, who is the youngest billionaire on the list and the only one who is under 40 years old. </li></ul>The richest of the rich when it comes to India’s digital economy include a few familiar faces, and a few brand new ones. On the one hand, the list is dominated by regulars like HCL’s Shiv Nadar and Wipro’s Azim Premji. On the other, start up founders like Paytm’s Vijay Shekhar Sharma and Byju founder Byju Raveendran are also working their way up the list. It should be noted that when it comes to technology sector, Infosys seems to be in the business of creating billionaires. Four of the top ten billionaires are currently working for the digital giant, or have in the past. Scroll on to see the ten richest tech billionaires on Forbes 100 Richest Indians list:

Top 10 tech billionaires on the Forbes list of 100 richest Indians

New Delhi [India], February 22 (ANI): The Directorate of Enforcement (ED) has asked the Bureau of Immigration to issue a look out notice against <keyword id="19901244" type="General" weightage="20" keywordseo="byju-raveendran" source="keywords">Byju Raveendran</keyword>, the founder of the in-crisis edtech company <keyword id="20683048" type="General" weightage="20" keywordseo="bjyu" source="keywords">Bjyu</keyword>'s, according to sources. The aim is to prevent <keyword id="20167845" type="General" weightage="20" keywordseo="raveendran" source="keywords">Raveendran</keyword> from leaving the country. Reportedly, this development comes ahead of a high-stakes Extraordinary General Meeting (<keyword id="19966733" type="General" weightage="20" keywordseo="egm" source="keywords">EGM</keyword>) scheduled for this Friday, where it was reported that certain investors were seeking to oust Raveendran from his position. On Wednesday, the Karnataka High Court had passed an order asking Byju's shareholders not to bring in effect any resolutions during the EGM until the final hearing. The order was on a petition filed by Byjus asking the court to restrain shareholders from holding the EGM. While the court has not stayed the EGM it has kept any resolutions in abeyance till the final hearing. The court will next hear the matter on March 13. Among the issues facing Byju's is the allegation of foreign exchange violations, which has likely prompted the central agency to push for the LOC against Raveendran The Enforcement Directorate had in November 2023 issued show cause notices to Byjus for violations under the Foreign Exchange Management Act (FEMA) violations amounting to Rs 9362.35 crores. ED had initiated the investigation on the basis of various complaints regarding the foreign investment received by the company Think and Learn Private Limited and the business conduct of the company. The company was also stated to have made significant foreign remittances outside India and investments abroad which were allegedly in contravention of provisions of FEMA, 1999 and caused loss of revenue to the Government of India, ED had earlier stated. "On conclusion of the investigation, it was found that Think &amp; Learn Private Limited &amp; Byju Raveendran have contravened the provisions of FEMA by failing to submit documents of imports against advance remittances made outside India, by failing to realize proceeds of exports made outside India, by delayed filing of documents against the Foreign Direct Investment (FDI) received into the company, by failing to file documents against the remittances made by the company outside India and by failing to allot shares against FDI received into the company," the ED had earlier stated. (ANI)

ED issues look out notice against Byju Raveendran: Sources

<ul><li><keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword> founder <keyword id="198636" type="PERSON" weightage="20" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword> is the only startup guy to be in the top 50 of the list. </li><li>Hurun Report India and IIFL Wealth Management have released the 8th edition of IIFL Wealth Hurun India Rich List 2019. </li><li>He is joined by others like Byju Raveendran, Sachin Bansal, Nithin Kamath, Binny Bansal in the list.</li></ul>Hurun Report India and IIFL Wealth Management have released the 8th edition of IIFL Wealth Hurun India Rich List 2019. While the obvious Mr Ambani tops the list, Paytm founder Vijay Shekhar Sharma is the only startup guy to be in the top 50 of the list. Sharma has a net wealth of ₹20,400 crores, according to the report. Sharma holds rank 41 in the list which has 953 entrants. He even ranks higher than Sunil Mittal of Airtel, Kiran Mazumdar Shaw of Biocon and Anand Mahindra of Mahindra Group. The billionaire entrepreneur is joined by others like Byju Raveendran, Sachin Bansal, Nithin Kamath, Binny Bansal in the list. Average wealth of the list is around ₹5,300 crores and the average age is 60 In 2017, Sharma was ranked as India’s youngest billionaire by Forbes. Paytm is the leading digital payments company in India. The parent company One97 communications houses 2 unicorns Paytm and Paytm Mall. The third subsidiary Paytm Money is also in its way to become a unicorn.

Paytm’s Vijay Shekhar Sharma is wealthier than Sunil Mittal, Kiran Mazumdar Shaw, Anand Mahindra and several others

<keyword id="1702989" type="PERSON" weightage="20" keywordseo="Byju-Raveendran">Byju Raveendran</keyword>’s journey, from teaching a few friends in a classroom to building <keyword id="3658" type="COUNTRY" weightage="40" keywordseo="India">India</keyword>’s largest education technology company, is now a <keyword id="53675" type="ORGANIZATION" weightage="100" keywordseo="harvard">Harvard</keyword> <keyword id="107736" type="ORGANIZATION" weightage="20" keywordseo="Business-school">Business School</keyword> case study, focusing on how brand <keyword id="2900267" type="UNKNOWN" weightage="20" keywordseo="Byju">BYJU</keyword>’S is changing the way children learn across grades. This education-startup was one of the first few investments done by the <keyword id="4185011" type="UNKNOWN" weightage="20" keywordseo="chan-zuckerberg">Chan-Zuckerberg</keyword> initiative who made a strategic investment in the company last year. <div type="embedgroup"> <div type="Article" hostid="261" msid="58515911" title="This is what a Flipkart source has to say as Amazon onboards BPL as a new exclusive partner" rank="1.0" kind="RELATED" publishDate="May 04, 2017, 5:03 PM" mstype="2" mssubtype="0"></div></div>






Another Indian start-up that has recently become a Harvard Business School case study is Paytm. Titled as “BYJU’S The Learning App,” this case study will be available for teaching purposes within and outside Harvard. Authored by John Jong-Hyun Kim, a Senior Lecturer at Harvard Business School, and Rachna Tahilyani, Associate Director, <keyword id="4493340" type="ORGANIZATION" weightage="20" keywordseo="harvard-business-school-india-research-center">Harvard Business School India Research Center</keyword>, the case studies the growth of the app, its impact on students and how this K-12 app can be used by students globally. <a name="m_1536148807806085524_m_3155099026859135"></a> A resident of a small village in Kerala, Byju Raveendran started BYJU’S with a vision to make children fall in love with learning and redefine the way India learns. The case study discusses how the learning app has used technology as an enabler and the unique combination of content, media and technology to create a learning app for students across the globe. 

 

 

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With technology as an enabler, the company focuses on developing learning programs that will cater to the unique learning requirements of every student in India and abroad. This further encourages the emerging start-up to innovate and build learning programs to revolutionize education and create a whole new segment of self-paced learners globally. 

 

 

 

 

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 Currently, BYJU’S learning app has 8 million downloads and 400,000 annual paid subscribers. Introducing new innovations in the field of learning, brand BYJU’S is continuously working towards creating global learning products that will make better learning accessible for students everywhere.

This Zuckerberg-backed Indian Learning App is now a Harvard case study

The remarkable journey of Byju Raveendran from a teacher to a billionaireThe remarkable journey of Byju Raveendran from a teacher to a billionaire

Edtech major <keyword id="2900267" type="General" weightage="100" keywordseo="byju" source="Orion">BYJU</keyword>'s, in the process of laying off thousands of employees as part of restructuring its business, on Friday hired football star and sports icon Lionel <keyword id="6355806" type="General" weightage="80" keywordseo="messi" source="Orion">Messi</keyword> as the global brand ambassador for its social impact arm, and the move has not gone well with the industry as well as people. The long-term engagement, which begins as Messi embarks on his final campaign to win the World Cup as captain of Argentina, will see him feature in campaigns promoting BYJU'S 'Education For All'. Abhishek Desai, Founder, CricHeroes, told IANS that it does sound like the irony that where you are laying off people on one side and hiring Messi as your global brand ambassador. "But I think that's the cost everyone pays for growing too fast. It's not that the company does not have money but growing too fast it creates a lot of redundancy in the organisation. Sooner or later you have to fix that and I think these layoffs are a result of that," said Desai. "Not only BYJU's but we are seeing something similar in Twitter also right now which is a public company. Until and unless we come out of this mindset, such incidents are bound to happen," he added. BYJU's founder and CEO <keyword id="1702989" type="General" weightage="50" keywordseo="byju-raveendran" source="Orion">Byju Raveendran</keyword> have told employees that there is a huge price to pay for walking on the path to profitability and the company will part ways with 5 per cent or 2,500 employees to "avoid role duplication across our businesses". Earlier this year, BYJU'S made history by becoming the official sponsor of the FIFA World Cup 2022 in Qatar. Football has roughly 3.5 billion fans worldwide, and Messi has a social media following of nearly 450 million. According to Syed Nadeem Jafri, Founder and Chief Mentor of Hearty Mart, laying off employees is part of any organisational journey. "However, hiring Messi is to counter the dent in the image, which might have happened due to the laying-off move, which seems more like a PR image-building ploy rather than any strategic plan behind it," said Jafri. In Kerala, BYJU's earlier decision to wind up their operations had asked 140 of the 170 employees to quit. However, after conciliatory talks that were led by Chief Minister Pinarayi Vijayan with BYJU's on Wednesday, it was decided that the edtech unicorn will not shut its operations at the <keyword id="6400701" type="General" weightage="50" keywordseo="technopark" source="Orion">Technopark</keyword> campus here. The company said they have decided to relook at the restructuring plans and continue its development centre in the Trivandrum Technopark office. Shrijay Sheth, Founder of Legalwiz.in, told IANS that businesses need to realise the value of sustainable hiring to build a long-term employer brand. "What is important here is to provide enough resources to the cohort for finding alternative opportunities, and minimize their personal damage. Entrepreneurs as their core function hold trusteeship of the overall welfare of the stakeholders, including employees," Sheth said. A Twitter user commented: "How's this possible, he wouldn't come for free that too for a company that's reducing its workforce and is in deep losses?" SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/airbnb-and-indigo-come-together-for-an-interfriendtion/articleshow/95298469.cms">Airbnb and IndiGo come together for an 'InterFriendtion'</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/shark-tank-india-season-2-will-start-soon-checkout-first-seasons-top-10-deals/slidelist/95300176.cms">Popsicles to canned cocktails - the top 10 deals cracked in Shark Tank India Season 1</a>

Edtech major BYJU's sacks thousands, and then hires Lionel Messi

In an abrupt move, <keyword id="237838" type="General" weightage="20" keywordseo="arjun-mohan" source="Orion">Arjun Mohan</keyword>, who was elevated as the embattled edtech firm Byju <keyword id="5645" type="General" weightage="20" keywordseo="ceo" source="Orion">CEO</keyword> just about seven months back, has quit to pursue other opportunities, the company confirmed on Monday. The company's Co-founder and CEO <keyword id="1702989" type="General" weightage="20" keywordseo="byju-raveendran" source="Orion">Byju Raveendran</keyword> will take a more hands-on approach in spearheading the daily operations of the company after Mohan's resignation, who will be part of the edtech firm in an "external advisory role". The move is aimed at streamlining the operations and positioning the company for "long-term success". "Mohan has done an outstanding job steering Biju's through a challenging period. We are grateful for his leadership and look forward to his continued contributions as a strategic advisor," Raveendran said. The company has now decided to consolidate its business into three "focused" divisions -- The Learning App, Online Classes &amp; Tuition Centres, and Test-prep. Each of these <keyword id="54698" type="General" weightage="20" keywordseo="units" source="Orion">units</keyword> will have separate leaders who will independently run the businesses sustainably to ensure profitability, said the company. "This reorganisation marks the start of <keyword id="6384897" type="General" weightage="20" keywordseo="byjus" source="Orion">BYJU'S</keyword> 3.0 -- a leaner and more agile organisation ready to quickly adapt to evolving market dynamics, especially in the realm of hyper-personalised education," according to Raveendran. Facing a severe cash crunch, the edtech company in September last year elevated Mohan as the CEO of its India operations. Mohan succeeded Mrinal Mohit, founding partner and the outgoing head of India business at the company, who embarked on a new journey to pursue personal aspirations. "By focusing on our core strengths with three specialised business units, we will unlock new growth opportunities while continuing to focus on profitability," said Raveendran.

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Byju Raveendran is the newest face on the Forbes list of 100 richest Indians

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