Arjun Mohan Named the CEO of Byju’s, Succeeding Mrinal Mohit
Written by Sanjay Kumar
BYJU’S
Educational technology company
- Founders: Byju Raveendran, Divya Gokulnath
- Revenue: 2,280 crores INR (US$290 million, 2021)
- Founded: 2011
- Subsidiaries: Byju’s Exam Prep, WhiteHat Education Technology, MORE
- Headquarters: Bengaluru, Karnataka, India
Arjun Mohan, the former CEO of UpGrad India and former Chief Business Officer at Byju’s, is set to take over as the new Chief Executive Officer (CEO) of Byju’s India operations, succeeding Mrinal Mohit, a founding employee of the Bengaluru-based edtech giant.
Mohan’s appointment comes at a critical juncture for Byju’s as the company grapples with efforts to monetize non-core assets in order to repay loans. Specifically, Byju’s has put two of its businesses, the reading platform Epic and the higher education platform Great Learning, up for sale to address a $1.2 billion loan raised in November 2021.
The company has also been facing scrutiny for corporate governance issues from lenders and investors, including Prosus, which held a board seat until June. Prosus’s representative on Byju’s board resigned, citing concerns about the company’s reporting and governance structures not evolving sufficiently for a company of its scale.
Arjun Mohan’s return to Byju’s carries significant expectations, as he will need to navigate various challenges, including addressing slower growth in the edtech sector in the post-pandemic era. Mohan expressed his commitment to the mission of personalized education, stating, “I return to Byju’s today when technology is poised to play an even more important role in making education truly personalized. While challenges are aplenty, I am ready to play my role in helping Byju’s empower our current and future generations to thrive in a rapidly changing world.”
Mohan brings over fifteen years of experience to the role and currently serves on the boards of Sharekhan and Mom’s Co. He holds an MBA from IIM-Kozhikode and is a graduate of the National Institute of Technology Calicut.
Outgoing CEO Mrinal Mohit is departing from the company to pursue personal aspirations. Byju Raveendran, the founder and group CEO, praised Mohit’s contributions and expressed confidence in Mohan’s ability to strengthen the company’s position in the global edtech landscape.
Byju’s boasts a formidable list of investors, including Chan-Zuckerberg Initiative, Naspers, CPPIB, General Atlantic, Tencent, Sequoia Capital, Sofina, Verlinvest, IFC, Aarin Capital, TimesInternet, Lightspeed Ventures, Tiger Global, Owl Ventures, and Qatar Investment Authority. However, the company has faced challenges with early investors looking to cash out and experiencing downgrades in value from some of its backers, including Blackrock, Prosus, and Baron Capital.
Must Read:-
- Top 10 Largest Oceans and Seas in the World
- Top 10 automobile companies in India 2023
- Top 10 Electrical Companies in India 2023
- Top 10 Real Estate Companies in India-2023
- Top 10 most awaited & upcoming Hindi web series 2023-24
- Top 10 Clothing Brands in India 2023
- Top 10 best cultures in the world-2023
- Top 10 best country to work and live in 2023
- Top 10 best country for education 2023
- Top 10 Most Followed Celebrities on Instagram 2023
- The Inspiring Success Story of Bear Grylls
- Top 10 Business Coaches in The World to Guide Entrepreneurs In 2023
- Top 10 movies based on True Stories you must watch before you die
- Top 10 Best Online Doctor Consultation Apps in USA
