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The new company policy is currently applicable to sales teams, including the Inside Sales (IS) and Byju’s Exam Prep (BEP) teams, according to an internal company document. Byju’s did not immediately comment on the new policy. Byju’s Financial Crisis: Edtech Platform Links Sales Employees’ Salaries to Weekly Revenue Generation Amid Cash Crunch. ....
Byju Raveendran, the founder and CEO of the company has taken on more personal debt to make payroll for the month of March, a source told Moneycontrol. ....
In an email, the company added that despite efforts, it has not yet secured approval to access the rights issue funds, because of the action of four of its investors. ....
The edtech company has mandated all its employees to work from home as it gives up office spaces across the country amid a severe cash crunch, barring those working at its offline tuition centres. ....
This comes at a time when the company has been engaged in a dispute with its investors regarding the validity of the funds raised from a recently concluded rights issue offering. ....