Unacademy CEO Gaurav Munjal Critiques Byju’s Founder Byju Raveendran for Lack of Listening Skills

Unacademy‘s CEO Gaurav Munjal recently offered insight into the downfall of the ed-tech giant Byju's and its founder Byju Raveendran, emphasizing the pivotal role of receptive feedback in business operations.

In a post on X, formerly Twitter, Munjal underscored Byju Raveendran’s failure to heed advice, noting a lack of individuals in his circle who could provide candid feedback.

Munjal critiqued Raveendran’s leadership and highlighted the essentiality of accepting and acting on feedback, even when it may be disconcerting.

The gradual decline of Byju’s has been attributed to Raveendran’s reluctance to listen and his detachment from constructive criticism.

Furthermore, Munjal provided observations and lessons drawn from the last two years, shedding light on the significance of amalgamating online and offline approaches when targeting the Indian market.

He stressed the importance of heightened transparency during tough times, advocating for open communication with stakeholders and team members.

Besides, Munjal underscored the need for business model innovation over product innovation and the strategic identification of leverage points for successful outcomes.

The Ministry of Corporate Affairs recently reiterated that investigations into financial misconduct allegations surrounding Byju’s are ongoing, amidst reports of a significant drop in the company’s valuation.

With Byju’s valuation plummeting from $22 billion to $1 billion, financial investment firm BlackRock has divested its holdings in the company due to the instability in its operations.

Meanwhile, global investor Prosus has reported a substantial loss of $493 million, marking down its stake in Byju’s by a considerable margin.