Hate is public, love is private: Byju Raveendran to employees on his 2022 learnings - Moneycontrol

Byju Raveendran, Byju’s founder and CEO.

Byju's remains undaunted by the 'negativity' going around about the edtech titan as the company and its management know the 'actual truth,' Byju Raveendran, founder and CEO, wrote to employees in an internal email, in which he also shared his learnings from 2022, an annus horribilis for the world's most-valued edtech firm.

"Hate is public, love is private. We have always been open to informed criticism, and we have never shied away from sharing our facts and figures. But criticism is one thing, and cynicism is quite another," Raveendran said in the email, a copy of which was seen by Moneycontrol.

"Every week, we receive thousands of messages from our students, which they send us directly, sharing their love and gratitude. We see the impact our learning products are making in their lives. And we never forget why we started. Those who really know us, know this. We always try. We always look up. We are not in it for the accolades. We are in it for the impact. When we are privileged enough to make such a big impact, it’s criminal to get complacent," Raveendran added.

His comments on how users like Byju's courses come at a time when the company has been heavily criticised in the media for allegedly mis-selling and over-selling its courses, even to poor families in the country. Furthermore, the email to employees comes just days after a detailed media report on Byju's work culture, which drew a lot of criticism.

"This was the year of introspection and action. But despite the challenges we faced, we persevered. We leaned on each other, on our history of excellence, and on our innate resilience to carry us through," Raveendran said.

"2022 will be seen as our defining year. After many rocking years, we needed a rocky year to pave the way for our long-term success and resilience. I have always maintained that we are pioneers in execution, not in perfection. Ultimately, the challenges faced this year have equipped us to weather every future storm and thrive for decades to come. Let us, therefore, take a moment to reflect on the lessons learned," he added.

Raveendran, in the letter, shared six key lessons from 2022, one of which was about how hate is public and love is private. In another lesson, he told employees how taking 'calculated action' even in the face of adversity can become a major advantage, quoting Byju's offline forays. He said Byju's successfully 'soft launched' hybrid model, despite global turmoil.

Raveendran also said that from this year, Byju's core theme will be to grow with efficiency. He said Byju's had targeted 'sustainable growth' or growth with profitability only from 2024, but it had to prioritise profitability this year itself due to macroeconomic headwinds.

"You have to focus the most when it’s tough to focus at all. Anybody can keep moving forward when the going is easy. But you can’t really call yourself a champion if you've only had wonderful things happen to you. Likewise, sustainable, market-leading businesses do not just happen," Raveendran said.

"We are working very hard to achieve profitability at the group level in the coming year itself," he added.

Raveendran also said that Byju's is the only startup among the top 30 private employers in India and claimed to have 20,000 teachers on its payroll. He said that Byju's is planning to hire 10,000 more in 2023. It can be noted that Byju's fired more than 2,500 employees across departments and subsidiaries earlier this year in a cost-cutting initiative.

Moneycontrol reported in October that about 5,000 employees had gotten performance notices at Byju's. Recent media reports also claimed that the company's total employee strength is down to about 35,000 from over 50,000. Byju's, however, denied the claim.

Raveendran ended the letter saying, "It all works out in the end if you don’t take no for an answer."

"I know there were many lessons to learn this year. Luckily, we are quick learners. And I am a grateful leader. Thanks to 2022, we can now look forward to 2023, 2024, 2025…indeed, forever with hope and grit," he added.

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Hate is public, love is private: Byju Raveendran to employees on his 2022 learnings - Moneycontrol
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