Davos 2023 | BYJU's CEO says may look at parent company IPO once macros improve

Some of its well-known acquisitions are Great Learning Private Limited, Epic!, Aakash Educational Services Limited, WhiteHat Junior, Osmo and TutorVista, Edurite from Pearson.

Raveendran expressed his bullishness on the mid to long-term growth of the company. He said Byju's is looking forward to a much better 2023, and the biggest driver toward sustainable growth is cutting down on branding initiatives. He also highlighted that the company has optimised on the people front, though it has been difficult to let go of employees.

In order to achieve overall profitability, the edtech major recently had laid off 2,500 employees, or around 5 percent of the 50,000-strong workforce across product, content, media, and technology teams in a phased manner.

In an internal mail, Byju Raveendran asked for forgiveness from the employees who are in the process of getting fired. He also explained the rationale behind the decision. He said that it's been done “to protect the health of the larger organisation and pay heed to the constraints imposed by external macroeconomic conditions."

The company also faced a lot of flak for roping in football player ‘Leo’ Messi as the first global brand ambassador of its social impact arm Education For All just after announcing the layoffs.