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Exploring Byju's sponsorship of the Indian cricket team, its financial performance, and challenges faced. The dispute between BCCI and Byjos over the owed 160 crore rupees and the use of NCLT for debt recovery.
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Quick takeaways
- Byju's took over the Indian cricket team's sponsorship deal to boost its brand and connect emotionally with the Indian audience.
- BCCI approached the National Company Law Tribunal to recover unpaid sponsorship dues from Byju's, causing Byju's to express a desire to settle the dispute.
Deep dives
Why Byjos took over Oppo's deal with BCCI
In 2017, Oppo spent a significant amount of money to sponsor the Indian cricket team's jersey. However, after a few years, Oppo felt that the deal was too expensive and wanted to exit. Byjos, a successful Indian ed tech firm, saw an opportunity and took over the remaining contract by paying millions to BCCI. Byjos, being a made in India brand, aimed to create an emotional connection with the Indian audience and leverage its already high valuation and international expansion plans to boost its brand through sports sponsorship.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode