New Delhi. Byju's Update: There was a time when Byju's was a star in the education and technology company i.e. EdTech sector. It has been one of the biggest companies in this sector, but now its situation has completely changed. Yes, Byju's has been surrounded by financial crisis for some time.

Investors are responsible

Regarding the financial crisis of the company, Byju Raveendran, the founder of Byju's, said that now its value has become zero. He has blamed the investors for this situation of the company. He said that when I was trying to expand and take over the company, the investors supported me. But as soon as the clouds of crisis loomed over the company, all the investors backed out.

However, the company's founder has expressed confidence that the company will soon be able to come out of the crisis. Let us tell you that this is the first time since Byju's has come into crisis that the company's founder has come forward. Yes, Byju Ravindran held a press conference at his house in Dubai. He has given all these statements in this press conference.

There was a demand to change the management

Byju Ravindran said that investors were demanding a change in management without any plan. In such a situation, he said that only we have invested in the company since December 2021. After this, he also told that many investors including Prosus have not made any investment in the last 4 to 5 years.

Investors like Prosus wrote off their investments in the company after some time. Let us tell you that before the crisis, Byju's was the startup company commanding the largest value in the country. As soon as the clouds of crisis loomed over the company, three directors of the company resigned. After this resignation, the company faced a lot of difficulty in raising funds.