THERE COULD BE no starker reminder that the good times of 2021 have come to an end than edtech major Byju's Founder Byju Raveendran pledging his assets, including an under-construction villa and family homes valued at around ₹100 crore. The beleaguered firm resorted to this decision to meet the salary obligations of a portion of its employees.
Raveendran's move indicates that he is anticipating a fresh infusion of funds and is taking this substantial risk to navigate the current cash crisis. It also demonstrates his commitment to his staff and is being seen as an attempt to lift their battered morale by assuring them that he'll do whatever it takes to keep the business running.
"It demonstrates a level of commitment from the founder to ensure the company's survival and maintain employee morale. This could be seen as a positive signal that the founder is willing to go the extra mile to keep the company afloat," says Ashish Aggarwal, Director of VC firm ACube Ventures.
Soon after settling the salary dues, Raveendran gathered senior executives for a conference call, assuring them that the proposed sale of US-based subsidiary Epic would help the company address the current liquidity crunch.
Bu hikaye Business Today India dergisinin January 07, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Business Today India dergisinin January 07, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
The EV Craze
The country’s growing luxury car market is seeing a shift with environmentally-conscious consumers betting on electric vehicles as a sustainable travel option. Though just 6%, the share of EVs in the luxury segment is rising rapidly
The Storage Boom
Data centres are being built at a frenetic pace in india as companies scramble to meet the ballooning demand from mobile phone users and firms adopting al. Can the country’s energy infrastructure keep up?
India Beckons
Owing to rising incomes in India and overall wealth expansion, luxury brands are wooing the country like never before
The Pearls of The Sea
Caviar, that rare food, is considered the epitome of fine dining. Here is everything that you need to know about it
66.Brand persona should define the core"
I’d say this was a strategic pivot. We had an iconic brand, but had, over time, evolved into diversified lines of businesses that could no longer be represented within the confines of our ‘name’.
Unwind in Style
Here is acomprehensive list of top tech picks that help you unwind by blending perfection in performance with luxury
A Lifelong Affair with Inspiration
In my art journey, the diversity of my acquisitions mirrored the expanding horizons of my understanding of art
Make it Bubbly
Champagne is much more than just a symbol of celebration and success. Know about its nuances beyond the bubbles
Palatial Splendour
Buoyed by renewed demand, sales of the glitzy mansions of the ultra-rich are surging like never before. Real estate majors are looking to capitalise on this by launching luxury offerings in record numbers
Of Beaches and Cream
GianChand Single Malt Whisky
