New Delhi: Baijus owner Baiju Ravindran’s assets were Rs 17,545 crore a year ago. Baiju Ravindran was also featured in the global list of richest people in the world. But that is not the case today. Reports are now coming out that reveal the depth of Byjus’s downfall.
In the recently released ‘Forbes Billionaire Index 2024’ list, the net worth of Baiju Ravindran, the founder of an etech startup called Byjus, has been listed as zero. For the first time in history, 200 Indians have been included in the Forbes Rich List.
However, Baiju Ravindran, who was out of the rich list, caught everyone’s attention there. Until recently, Baiju featured in many of the world’s richest people lists.
Launched in 2011, ByJuice Learning App has grown rapidly. On one occasion, Byjus even achieved the feat of sponsoring the Indian cricket team. The growth of the start-up was in the blink of an eye. ByJuice app has also brought about a big change in the field of education itself. Some financial problems and controversies were shaking Baijus.
It was only after March 2022 that the loss of one billion dollars came out. Baiju Ravindran had to face a lot of criticism from investors in the following days. The parent company, Think and Learn, had also received a summons from the Enforcement Directorate following detection of an irregularity of Rs 9362 crore under the Foreign Exchange Act.
