In an extraordinary twist to a refund request, a family took a rather unconventional approach to reclaim their money from Edtech giant Byju’s. Instead of following the usual protocol, they paid a visit to Byju’s office and, in a moment of frustration, removed a TV, urging the staff to “Take it when you pay the refund”.
The family’s video, shared on Instagram, quickly gained attraction, accumulating over 1 lakh views. While some comments were light-hearted, others delved into the challenges faced by consumers dealing with Edtech companies like Byju’s.
This incident has sparked a broader conversation about customer service practices in the edtech industry and the complexities of refund procedures. It has also shed light on the experiences of consumers grappling with education technology companies.
Byju’s has faced its share of financial challenges in recent years, reporting a consolidated loss of Rs. 8,245 crore on operating revenue of Rs. 5,298 crore for FY22, according to regulatory filings. Byju’s has been fighting on multiple fronts for more than a year now and needs capital desperately, and may consider a rights issue to raise funds from existing investors at a valuation of $225 million, a whopping 99% decline from its last valuation of $22 billion.
The company faces increasing criticism from parents and students amidst its struggles. Many have shared stories of their attempts to cancel subscriptions during trial periods, only to find out later that their requests were not recorded, leading to refund eligibility lapses.
This episode serves as a reminder of the importance of customer satisfaction and transparency in the rapidly evolving world of education technology. It underscores the need for companies like Byju’s to prioritise the needs and concerns of their consumers, ensuring a positive and seamless experience for all involved.
