Byju's assures that salaries will be paid "not immediately, but at some point."

The director of FIITJEE expressed his anger, which led many on the internet to recommend not working for Indian entrepreneurs.

Byju Raveendran, the founder of the educational technology group Byju's, admitted on Thursday afternoon that he made mistakes and failed to adapt to the market moment. He also indicated that his startup, which at one time was valued at $22 billion, is now worth virtually "zero."