Read the open letter from Byju co-founder Divya Gokulnath

Co-founder and director of BYJU Divya Gokulnath wrote an open letter about the company’s performance. In a post on professional networking site LinkedIn, Gokulnath said $22 billion edtech Major’s financial results were sensationalized by focusing solely on the company’s losses. She compared Byju’s results to the Bollywood film “Brahmastra.”
Here is the full post as it appeared on LinkedIn
The second blockbuster release this year, after Brahmastra, is the financial result of BYJU. I haven’t watched Brahmastra yet, but I happen to know the results of BYJU. Because, as its Director, I was involved in its making.
Whether you’ve seen the Bollywood blockbuster or not, I’m sure you’ll ‘see’ our results. But have you seen the complete picture? Because just like movie reviews, sensationalism leads to more clicks than truth in this 280-character-read focus period.
I have never had any problems with the stories written about us. In fact, the content of most reports of our results is positive. But some titles are another matter. It’s easy to forget that we’re 18 months after Fiscal Year 21, and BYJU’S has more than quadrupled in this span. Or our ‘growing losses’ in FY21 have been cut in half in FY22.

Let me explain this with five examples of what a headline is, what it should be, and why.
Article 1
Title: ‘Byju’s report increases losses after prolonged audit delay’
It should be like this: ‘Byju reports heavy loss for fiscal year 21 due to accounting changes’
Reason: Well, the summary of this article itself says ‘accounting changes carried over revenue to subsequent years’!
Article 2
Title: ‘Byju’s Fiscal Year 21’s Loss Increases 20 Times….’
It should have been: ” Byju’s fiscal year 21 loss spiked; watches 10,000 cr Turnover 22′
The reason: The summary says BYJU’S reported “nearly Rs 10,000 in total sales for the following year.”
Article 3
Title: ‘India’s Startup Valuation Race…’
What it should have been: ‘In our subjective opinion, BYJU’S is overrated’
The reason: Although the title says ‘India’s Startup Valuation Race’, the article points to BYJU’S. The entire content reads like The Communist Manifesto. “This newspaper is not against companies that profit from important services…” they added this disclaimer in a Freudian article. By the way, valuation is a function of future cash flows. We have reached a turnover of ₹1,000 cr+ per month this year.
Article 4
Title: ‘Byju loses Rs 12.5 per day….’
This should have been: ‘BYJU’S reported a loss of Rs 4,500 in Fiscal Year 21 due to accounting changes’
The reason: The content explains why our loss is high in fiscal year 21. But to get your attention it costs Rs 12.5 cr per day (with a!). By the way, we generated a turnover of Rs 27 per day in fiscal year 22!!!
Article 5
Title: ‘Five red marks from BYJU auditor’s note’
It should be like this: ‘BYJU’S received a clean and unqualified auditor’s report’
Why: Because it’s the absolute truth. The number of red flags is zero. And that’s also the point that I want to give this publication to their titles.
Why bother about such headlines in the annual horror series of startups, you might ask? Because I owe 50,000 family members and 150 million plus our students.
Please rate Brahmastra and BYJU’S after seeing the whole picture.

Source link


News7F: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button