Byju’s hires Ajay Goel as CFO amid boundless problems
Byju’s hires Ajay Goel as CFO amid boundless problems
In a bid to strengthen the company’s financial operations and achieve profitability amid
boundless problems,
Byju’s appoints Ajay Goel as CFO of its institution.
Goel, who was associated with companies like Vedanta, GE, Coca Cola and Nestle, will be accountable for overseeing financial strategy and management for Byju’s
As per Raveendran, Founder and CEO, Byju’s, Goel with his
vast experience and diverse skill-set, is the ideal candidate to take on the role of Chief Financial Officer as we continue to chart the course of sustainable growth in this exciting new phase.
Goel will collaborate closely with the company’s founders and top leadership on strategy development, capital planning, and financial analysis.
The company originally planned to attain group-level profitability by March 2023, but it has already passed that deadline.
According to a report in The Arc, citing the filings.
Byju’s is India’s most valued startup. If other investors follow BlackRock, it may translate into the first major downgrade of an Indian decacorn after Flipkart in 2016.
Byju’s is in advanced stages to raise $250 million at a flat valuation, as it struggles to repay a $1.2 billion term loan and turn profitable in 2023.
The latest funding round is in “final stages of discussion and will be closed soon within a few weeks”.
In a bid to streamline operations and reduce costs, the edtech firm is also closing down the coding platform WhiteHat Jr, which it purchased for $300 million.
News input KV Raman
