Byju Raveendran, the man behind the tech giant Byju's, has pledged his residential properties, including those owned by his family, as collateral to secure funds for the salary of its employees, according to a Bloomberg report.

This move has enabled the borrowing of $12 million (around Rs 1.6 billion), which was subsequently utilised to meet payroll obligations for 15,000 employees at Think & Learn Pvt., Byju's parent company.

ALSO READ: Viral video shows alleged Byju's employee in heated argument with seniors over pay

ALSO READ: Why is 22-billion-dollar ed-tech company Byju's facing a financial crisis?

ALSO READ: Byju's is sacking 1000 people in fresh layoffs after tiff with US lenders

ALSO READ: Byju's accused of buying phone number of parents and threatening them, company reacts

As Byju's navigates financial intricacies, industry observers anticipate how these strategic moves will impact the edtech giant's future.

ALSO READ: Insecurity, long hours, false promises: A Byju's ex-employee spills the beans on its toxic work culture

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Byju’s CEO mortgages his homes to pay salary to 15,000 employees: Report

12 9
05.12.2023

Byju Raveendran, the man behind the tech giant Byju's, has pledged his residential properties, including those owned by his family, as collateral to secure funds for the salary of its employees, according to a Bloomberg report.

This move has enabled the borrowing of $12........

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