Key Board Members Resign From Byju's, Raising Concerns About Company's Internal Dynamics

Byju's, the edtech giant based in India, is facing another setback as several key board members have recently tendered their resignations. This development raises concerns about the internal dynamics of the company and its future direction, Economic times reported.

Two persons with knowledge of the situation said that early supporter GV Ravishankar, managing director at Peak XV Partners (previously Sequoia Capital India), has resigned from the board of the company, which is a significant step that probably highlights deeper issues within edtech giant Byju's.

Board members Russell Dreisenstock of Prosus (formerly Naspers), and Chan Zuckerberg's Vivian Wu also left the company along with Ravishankar, indicating the deteriorating trend currently affecting the once-most valuable privately held Indian enterprise.

These people claimed that the corporation had not yet acknowledged the resignations.

These departures couldn't have happened at a worse moment for the Bengaluru-based edtech, which is currently beset by legal issues, debt defaults, and a much-delayed financial report filing for the year ending March 31, 2022.