Troubled edtech giant Byju’s is undergoing a significant leadership change. Anil Goel, the Group Chief Technology Officer (CTO) and President of Technology is departing after working for three years in the company.
The development comes amid a series of high-profile exits and internal restructuring within the company. Earlier,
Who is the new CTO of Byju’s?
Following Anil’s exit, Byjus’s said it has elevated Jiny Thattil, previously the Senior Vice President at Byju’s owned EPIC, to the role of the Group CTO. Thattil’s experience spans various tech giants like Amazon, InMobi, and GE Healthcare.
Byju’s, in a statement, said the appointment is part of its strategic efforts to enhance operational efficiency and sustainability.
Prior to joining Byju’s in 2020, Jiny worked at Epic for Kids as the Senior Vice President. He has also worked in the senior leadership team in companies, including Happay, Amazon, InMobi, Yodlee, and GE Healthcare.
“We are delighted to promote Jiny Thattil as the CTO of BYJU’S. His extensive experience and leadership skills make him the ideal candidate for this crucial role as we continue to rebuild for greater efficiency and sustainability. We would also like to extend our heartfelt gratitude to Anil Goel, the outgoing CTO, for his exemplary work and dedication to driving technological innovation at Byju’s,” Said Arjun Mohan, the India CEO of BYJU’S.
Byju’s ongoing struggles
The development comes amid Byju’s reported EBITDA loss of Rs 2,253 crore in FY22, slightly lower than the previous year’s loss. Amidst these financial challenges, Byju’s is reportedly attempting to sell EPIC for $400-$500 million to pay off its debt.
Recently, ED served a show-cause notice to troubled edtech giant Byju’s and its founder Byju Raveendran, for alleged violations of the Foreign Exchange Management Act (FEMA) amounting to a staggering Rs 9,000 crore.
An attempt towards profitability
While elite startups in the Indian startup ecosystem are now focusing on achieving profitability, it remains a concern for Byju’s. Given the ongoing financial hurdles, the company is more focused on repaying its debt.
The departure of Anil Goel is part of a broader restructuring at Byju’s. The edtech giant earlier said it aims to reach break-even next year and has been consolidating its businesses and reducing costs by the elimination of thousands of jobs.
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