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'Have been moving mountains for months': Byju Raveendran after Byju's pays January salaries

Business Today

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Byju Raveendran, CEO of Byju's, confirmed in a letter that the company has paid all pending salaries for January. The company faced a delay in salary disbursements which was attributed to a crisis caused by select investors demanding Raveendran's resignation as CEO. Byju's also clarified that these investors have no voting rights to change the leadership. Raveendran expressed his determination to fight against vested interests trying to sabotage the company by delaying the rights issue for existing shareholders. The issue aims to raise $200 million at a significantly lower valuation than the previous funding round.

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