BYJUS - Lessons from Stunning Rise & Dramatic Collapse of India's Biggest Unicorn | Akash Banerjee

It was a rags-to-riches story that was widely quoted - Byjus was an inspiration that spurred the entire Indian ed-tech Industry .... but India's biggest Unicorn is struggling to stay afloat today, a company that was loved by all is being abused.

How did this fall happen, was it really sudden, why we must all take lessons from this collapse.

Read more about the collapse about Byjus and why we need to learn from it -
Pradip K. Saha The Learning Trap: How Byju’S Took Indian Edtech For A Ride

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Credits :
Script - Akash
Thumbnail : Khursheed
Graphics : Mehul & Ritam
Editor : Khursheed
Producer : Sahil

#byjus #edtech #akashbanerjee

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[ritwikmishra]

Being an ex byjus employee
I can verify each and every sentence is true to it's core!!
Being a company who train it's employee to cheat and to extract money from parents by hook or by crook was going to fail sooner or later. Finally it's out in the open

[kaditya]

An Uber driver toiling 16 hours a day was sold a course with loan attached. His motivation was to break the circle of low earnings through educating his children, but instead got duped. I had extreme emotions that day

[Karma_]

It's nothing else than "KARMA". When I was in my second year of MBA, byju's offered me a job with the position of "Regional Operations head". After inquiring about the role several times I was assured that it will be related to "Operations" and not sales or marketing. After joining I was abused for not meeting the targets, my salary which was 14LPA, barely I received 40k. Every week My team used to change and I wasn't even aware of whom I shall be reporting to. Total Chaos at Mumbai branch. The Interns would spend their own money for petrol and visit different places to meet potential customers. They were unpaid and overworked Like hell.
Shame on Byju's for treating employees like this.

I lost my chance for a better placement as i wasn't allowed to sit for placements further because I had byju's offer.

[citizen]

I attended Byju's classes in 2010 for the CAT. He mesmerized me and many students like me. It was one of its kind, an amazing way of teaching and an out of the box approach for complex problems.
His story is nothing but; 'You die young as a hero or live long enough to see yourself becoming a villain'

[anupambanerjee]

As an ex-byju's employee who never did any sales, I understand what those parents might be thinking now. Everyone talks about the marketing, the sales and other things. But no one actually talks about post-sales support. We had thousands of students to contact and honestly, there was never enough manpower where we could provide a proper post-sales support. Not to mention that there were false promises from the sales reps as well. We were overworked and underpaid on literally every other turn tbh. The parents' outburst is always a reality to the mentors and the product experts. Not to mention, the lies about refund policy changed almost every day for every other customer. If a parent invests 1 lakh rupees for their child's education, then it is normal for them to have outbursts.

I totally agree with Akash here. And I have no sympathy with Byju's as a company. It's shutting down rightly, and for good

[manastripathy]

Byju's is a perfect example that an individual with good teaching skill needn't necessarily become a good businessman

[Gkgaurav]

As an ex BDA at Byjus, this is so true. It was such a toxic environment at the work place. I used to go to office at 9am and the managers used to come in the evening stoned, they used to make us stay there till 12am! Imagine 9am to 12pm you are just calling the parents and booking for appointments for the weekend. Toxicity was at its peak😒
Karma✅

[VivekSinghVivek]

In 2007 Byju came to my college, I was not interested to attend but my friend dragged me for company, he was excellent in CAT maths, there were hardly 20 ppl in the session, at that time Byju shared his personal phone number.
I called him later and he was very humble to invite me again at VJTI college for another session. I finally thought MBA is not my stuff and decided to not go further. So I agree this video is absolutely accurate

If byju would have stuck to CAT and teaching personally, he would have been tremendously successfull and easily retired by 35-40 with maybe 300 crores, but maybe he had big dreams which unfortunately did not materialise

[deepbagli]

During my JEE preparation, I once visited that company's site and logged in with my number. Subsequently, numerous calls were made by the counselor, urging me to enroll in their coaching. After a half-hour phone call, I politely said I would consider it, but when he called again later, I declined admission. In response, he verbally abused me and my family, prompting me to end the call. Karma has its way, and I took admission in pw coaching, I'm delighted to share that I secured admission to my dream college, IIT Madras, pursuing mechanical engineering in my second year.

[Siddharth_Tanwar]

I took byjus tablet course for JEE preperation. I can tell you it was the worst e content. Nothing was upto the mark. They only focused on animations but forgot to focus on problem solving. That was 6 years ago. Luckily I ditched Byjus after and joined a proper offline coaching 😂

[kalyanimookherji]

As a longtime educator and counsellor, I can assert that for school children at least, online modules can be at best a support and not a replacement for physical classrooms.

[sayalikulkarni]

00:09 Byju's went from a prized unicorn to financial collapse
03:22 Byju's journey from a service engineer to founding Byju's classes for CAT coaching
06:38 Byju's innovative approach revolutionized the Indian education system.
10:07 Byju's rapid growth led to high valuation and expansion but also brought immense pressure and challenges
13:51 Byju's faced downfall due to unethical practices and industry changes
17:59 Byju's took big financial risks and loans that didn't work out as expected.
21:30 Byju's faced financial and legal challenges
25:38 Byju's facing financial troubles and backlash
Crafted by Merlin AI.

[GarvitSharma-es]

I AM GLAD TO HEAR ABOUT BYJU'S DECLINE! They literally used to scam students. I remember purchasing their JEE distance learning program for like 48000 INR and the content they provided was of below par quality. If you insist on just looting people of their money without providing with quality education in return, this is something that is bound to happen!

[vinaysetia]

I was the first Commerce Faculty at BYJU (Noida office-cum -studio) . Had joined it in 2016 but left in 2017. I had sensed its fate! I'm really sorry to see it's present situation :(

[alfahadkhan]

Physicswallah's success is majorly due to Alakh sir's zidd to stick with his main goal of either free or very affordable education with best teachers.... Meanwhile other ed techs changed their motive to earn money when they got successful

[ashexxxx]

I have heard from some friends how badly they were treated by the company while they were working there. A company who mistreats their employee like that was meant to fail, and not to forget the scams they did with the students.

[Gkgaurav]

I was a BDA in byjus. I was there for few months and quit due to its toxic work culture. The training managers were so arrogant and I remember one of them saying "parents ke saamne bachho ko questions puch puch ke rulao fir Ch***ya ki tarah dikhao, darr se definitely Lelenge course". Next day, I QUIT! And I'm glad I did.

[normanlaffrey]

Thanks Akash Ji you explained the whole thing in simple language. I always wondered why so much craze was created around Byjus when in all fairness it was a mediocre company over grown disproportionately and so the bubble had to burst.

As you rightly said... jab bhagwan deta hai chappar fard kar deta, lekin jab leta hai to thappad Mar kar leta hai. We should never forget this.

[karthikanj]

An example of how even such brilliant people loses basic common sense with over confidence. I remember discussing with friends 'what's wrong with them!!' when they started buying companies one after the other, coding, school tuition, entrance, gate, what not! Was very much inspired by initial growth and the teaching model of Byjus!