'Byju failed because...': Unacademy CEO Gaurav Munjal says Raveendran put himself on a pedestal
'Byju failed because...': Unacademy CEO Gaurav Munjal says Raveendran put himself on a pedestal
Byju Raveendran, Founder and Group CEO of Byju's, faced significant setbacks due to his reluctance to listen to others, Gaurav Munjal, Co-founder and CEO of Unacademy said in a post on Friday.
"Byju failed because he didn’t listen. He put himself on a pedestal. Don’t do that. Never do that. Don’t listen to everyone but have people who can give you blunt feedback," Munjal said in a series of posts on X.
"You might not always like the feedback, but take it and act on it," he added.
Munjal began his posts by sharing lessons from the past two years, emphasizing the importance of understanding unit economics from the start.
"Learnings from the last 24 months: Understanding the Unit Economics on Day One is probably the best thing you can do," Munjal said.
He also highlighted the value of discerning between investors, noting, "Some investors are assets, some are liabilities. The trick is to figure out the ones who are assets and listen to them."
Meanwhile, global investment giant Prosus has written off its shareholding in Byju's, recording a loss of $493 million. In its FY24 annual report, Prosus stated that the value of its 9.6 percent stake in Byju's had significantly decreased.
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