Shareholder action against Byju Raveendran: Shareholders of Byju's seek to oust founder Byju Raveendran from leadership

Shareholder action against Byju Raveendran : Shareholders of Byju's expressed serious worries about the company's future stability under the current leadership, stating that they are "deeply concerned."

Byju Raveendran faces increasing challenges as shareholders of Byju's seek to oust him from leadership.

Shareholders of the edtech firm Byju's are pushing for a change in leadership, aiming to remove the company's founders. This move follows a significant downturn for the edtech giant, marked by mass layoffs and a sharp decline in its valuation. Merely two years ago, back in 2022, Byju's was considered a top-tier startup led by billionaire Byju Raveendran.

Shareholders of Byju's have expressed serious concerns regarding the company's future stability under the current leadership. In a statement released by Prosus Ventures, which holds a 9% stake in Byju’s, they indicated having support from other shareholders, though unnamed. According to a Reuters report, Sofina and Peak XV (formerly Sequoia Capital India) have also endorsed the statement.

A Livemint report reveals that General Atlantic, Prosus Ventures, Peak X