Sumit Mandal Talks

Byju Raveendran, co-founder of Edtech startup, Byju's spoke to the media for the first time since thefinancial issues began. During a two-and-a-half-hour mediacall, he regretted the investors' withdrawal duringchallenging times.

In 2023, three of Byju's key investors, Prosus, Peak XVPartners, and the Chan Zuckerberg Initiative, resigned fromthe board, bringing a big blow to the ed-tech company andmaking it nearly impossible to raise new funds.

Raveendran expressed his willingness to repay all dues tolenders, provided they cooperate with him. However, theByju co-founder warned that continuing insolvencyproceedings would leave lenders empty-handed.

"If they are willing to work with me, l am willing to give themmoney back before I take a single rupee out" he said. Healso disclosed that the company had already paid $140million of the $1.2 billion Term Loan B (TLB).

Incidentally, Byju Raveendran has been voted as the worstIndian founder by members of the Reddit community for thecOuntry's startups. This happened after widespreadcriticisms regarding Raveendran's leadership style,unethical business practices, and the negative impact of hisbusiness moves on the Indian startup ecosystem.

For the unawares, Byju's is currently entwined in insolvencyproceedings. Initially, the company triggered a 158.9-croredispute with the BCCI, which has now been resolved.However, the US lenders through Glas Trust have opposedthe resolution in the Supreme Court, restoring theinsolvency case.

Meanwhile, Raveendran revealed the money raised from US lenders had not reached India, as it required the approval from Reserve Bank of India. He shared that certain

aggressive lenders were taking advantage of the company's financial distress for profit.

"Byju's worth today is zero" Raveendran admitted. "But let me be clear, I did not run away." He further added, "I Will come to India and I will fill stadiums... The timing has not been decided, but it will be soon. I will make a comeback and nobody can stop me from completing my mission."

1 year ago | [YT] | 1

Sumit Mandal Talks

Today we lost a diamond more precious than Kohinoor .
The whole country will never forget your contribution . salute to you sir "Ratan Tata"

Tata sons Emeritus sir RATAN TATA Dies at 86 in mumbai hospital.

#ratantata #tatasons #tata

1 year ago | [YT] | 0

Sumit Mandal Talks

Kunal Bahl, co-founder of Snapdeal and Angel investor, has become the newest shark on Shark TankIndia, replacing Zomato CEO Deepinder Goyal.

Bahl will make his debut in the upcoming Season 4 of theshow.

He joined the panel of investors that already includes Oyofounder Ritesh Agarwal, Emcure Pharmaceuticals executivedirector Namita Thapar, boAt co-founder Aman Gupta, andPeople Group's Anupam Mittal.

This comes after Deepinder Goyal recently revealed heWould not return as a shark this season.

The decision stems from Zomato's rival Swiggy signing a sponsorship deal with the show's producers and demanding Goyal's removal as part of the agreement.

#sharktankindia #swiggy #sharktank #startup #news#ndianstartupnews

1 year ago | [YT] | 0

Sumit Mandal Talks

Just like toothpaste means "Colgate" and noodles means "Maggie" which brand comes to your mind when you think of "plastic container

1 year ago | [YT] | 0

Sumit Mandal Talks

Stockbroking platform Zerodha has achieveda significant milestone by reaching over $1 billion (Rs 8,370crore) in revenue with an impressive 55% profit (Rs 4,700crore) margin in the financial year 2024.

This marks a significant increase from the previous year,where the operational revenue was Rs 6,875 crore, andprofit after tax stood at Rs 2,907 crore.

The company's co-founder and CEO, Nithin Kamath sharedthis achievement attributing to the company's strongperformance and strategic business decisions.

He tweeted, "For years now, l'd been talking aboutregulatory risk in running a brokerage, and this was the yearwhen all the risks materialized at the same time. We hadplenty of positives."

Further elaborating on financials he mentioned, "Rs 4700crore of profits. Our netwWorth is over 40% of customerfunds, which makes us among the safest brokers, not justin India but in the world."

#startupupdates #zerodha #zerodhrevenue #startup#startupnews

1 year ago | [YT] | 1

Sumit Mandal Talks

Coming back with a new series this Thursday.
Saty turned so that so didn't miss it.
And so subscribe for faster update....

See you on Thursday ❤️

1 year ago | [YT] | 0

Sumit Mandal Talks

Hey guyss !!

Hope you all enjoying my content and with every video you get some knowledge about how brands are made and how a business is built...

Well for you guys i will start a series about all the companies which have started from zero and today it is a billion dollar company....

* Why do people trust tata that much

*Yahoo which is one of the biggest web browser take over by google.

*How Amazon, Apple, Meta becomes a trillion dollar company...


So to make sure you didn't miss all this do subscribe and turn on the notification so that you get notified.

Thank you all ❤️ keep supporting keep growing.💵

Love you all ❤️

1 year ago | [YT] | 1

Sumit Mandal Talks

Reserve Bank of India has asked Paytm to shutdown its main services after February 29th.

Here's why

The reason behind this is not crystal clear, but it seems Paytm might be in trouble because they've been not following RBI's rules.

In 2018, Paytm got on RBl's radar due to some issues with their KYC process and IT-related matters that put users money at risk.

Fast forward to today, and it looks like Paytm is facing the consequences. RBI recently fined them a whopping 5.39 crores for not following proper guidelines on transactions, KYC, deposits, and cyber security.

But that's not all - after February 29th, you won't be able to do some essential stuff on Paytm, like opening a new account or using key services such as deposits, top-ups, wallets, and more.

What do you think about all this? Are Paytm's days numbered?

Share your thoughts in the comments below! 👇

2 years ago | [YT] | 0