In another significant departure from the beleaguered edtech giant BYJU’S, Cherian Thomas, the Senior Vice President for International Business, has exited the company. Thomas has assumed the role of Chief Executive Officer (CEO) at Impending Inc, according to a statement released by the company.
Impending Welcomes Cherian Thomas as CEO
Impending Inc has announced that Cherian Thomas will be taking the helm as its CEO. In his new role, Thomas will be focusing on expanding the company’s product portfolio, enhancing its global talent pool, and ensuring scalability across operations.
Cherian Thomas’s Key Contributions at BYJU’S
The statement highlights that Cherian Thomas played a pivotal role in establishing BYJU’S US operations. Furthermore, he served as the CEO of Osmo, a company acquired by BYJU’S for $120 million. His experience has been instrumental in the growth and expansion of the organization.
Thomas’s Diverse Background and Impending’s Vision
Cherian Thomas’s professional journey encompasses diverse achievements. He co-founded and successfully sold a VC-backed startup, Cucumbertown, to Japanese conglomerate Cookpad in 2016. Thomas was also an early employee at Zynga, a major player in the gaming industry. Regarding his new role at Impending, Thomas stated, “Impending espouses everything I’d do if I were to start again. It’s all about executing, failing, evolving, re-releasing, and scaling without being questioned.”
BYJU’S Struggles and Industry Developments
The departure of Cherian Thomas from BYJU’S adds to the ongoing challenges faced by the edtech giant. Recent reports have indicated that BYJU’S released around 100 employees due to performance-related concerns. Additionally, the company has witnessed various issues including cash flow problems, legal disputes with lenders, multiple rounds of layoffs, board member resignations, valuation markdowns, and delayed financial reporting. In FY21, BYJU’S reported a net loss of INR 4,588 crore, marking a 20-fold increase compared to the previous year. The organization is yet to file its financial statements for FY22 and FY23. Amidst these developments, the edtech sector is witnessing notable movements, with Unacademy recently appointing Anurag Tiwari, formerly of Aakash Educational Institute (owned by BYJU’S), as the National Academic Director for its physical classes division.
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