Byju Financial Crisis

Embattled edtech platform Byju's has paid full salary for April to employees in all functions, except sales staff, even as the company faces a liquidity crisis.

Amidst the ongoing financial crisis in Byju's, company CEO Byju Raveendran on Saturday said that the edtech firm will not be able to pay the salaries of its employees.

Byju Raveendran, the eponymous founder of edtech titan Byju's, has pledged his home as well as those owned by his family members to raise money for paying employees as the company battles a cash crunch.

Audit firm Deloitte has resigned as auditors of Byju's citing a delay in submission of financial statements while almost simultaneously three of the edtech firm's board members have quit in what is being seen as a deepening crisis at the decacorn.

Byju's, one of the most valuable startup, plans to make a quarterly interest payment of about $40 million on a loan that has been at the center of the beleaguered firm's financial troubles, according to people familiar with the matter.

Embattled edtech platform Byju's has paid full salary for April to employees in all functions, except sales staff, even as the company faces a liquidity crisis.

Amidst the ongoing financial crisis in Byju's, company CEO Byju Raveendran on Saturday said that the edtech firm will not be able to pay the salaries of its employees.

Byju Raveendran, the eponymous founder of edtech titan Byju's, has pledged his home as well as those owned by his family members to raise money for paying employees as the company battles a cash crunch.

Audit firm Deloitte has resigned as auditors of Byju's citing a delay in submission of financial statements while almost simultaneously three of the edtech firm's board members have quit in what is being seen as a deepening crisis at the decacorn.

Byju's, one of the most valuable startup, plans to make a quarterly interest payment of about $40 million on a loan that has been at the center of the beleaguered firm's financial troubles, according to people familiar with the matter.