Byju's Plight: Properties Pledged To Pay Salaries!

Without any doubt, Covid had a devastating impact on many things. Educational institutions were also shot as a safety measure. Online teaching platforms got a big space to spread wings given the space. Many platforms rose to popularity as students and institutions wanted a platform.

But no other platform comes close to ed-tech company BYJU'S. It had climbed the ladder and became popular very quickly. The popularity it had was such that even the governments showed interest in joining hands with it for various projects.

Keeping it in simple terms BYJU'S had a dream run for any platform. However, the success did not last long and the platform started seeing its downfall. No one would have felt that the platform would see a downfall very quickly.

As another example of the downfall, the platform is said to be facing financial issues and it is in a position that it cannot even pay the salaries to the staff. With this, a few properties were pledged to raise funds.

Bloomberg reported that BYJU'S founder Byju Raveendran pledged two houses and one under-construction villa in Bengaluru. The money raised by this would be used to pay the salaries of the staff.

Seeing the problematic situation faced by the company, the employees are said to be leaving the platform. This speaks volumes about the massive rise and sudden fall of the platform that no one would have predicted.