The unravelling of Byju’s billion-dollar empire

This article was originally published in Rest of World, which covers technology’s impact outside the West.

One morning in January, Byju Raveendran sat in the back seat of his shiny black Cadillac as it sped through Dubai. Just three years prior, the schoolteachers’ son had appeared on the Forbes list of richest Indians as founder and CEO of Byju’s, then one of the world’s most valuable education technology companies. He was dressed casually in a T-shirt and jeans, while his driver, Hashim, was more formally attired in a collared shirt. Raveendran, square-jawed and muscular at 45, told me he typically rides beside Hashim in the passenger seat, seeming intent on underscoring his down-to-earthness. “I always sit there, no, Hashim?” he asked, with a boyish laugh. Hashim nodded.

Former Byju’s employees had told me about Raveendran’s love for staying at the world’s finest hotels, and the upscale properties and luxury cars his family owned when he was based in Bengaluru. I’d heard his wife and co-founder, Divya Gokulnath, described as a jet-setter who networked with Silicon Valley elites.

But beyond the Cadillac, Raveendran didn’t seem keen for me to get a glimpse of his wealth. He was facing accusations of defrauding US lenders for hundreds of millions...

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