"Byju's Founder Raveendran Overcomes Payroll Crisis with Emotional Letter and January Salary Payments"
BYJU's founder Byju Raveendran informed employees that January salaries have been paid after reports of potential delays, citing financial struggles including lawsuits from lenders and allegations of FEMA violations. The company, once valued at $22 billion, is now facing a financial crisis, with its latest valuation dropping to $250 million. Raveendran thanked employees for their perseverance and sacrifices, stating that he had to "move mountains" to ensure timely payroll. The company is seeking $200 million in exchange for new stocks and has faced backlash from shareholders seeking to oust its founders from the board.