“The only mistake that created all this”: byju ravendra

BYJU RAVEENDRAN, founder of the turbulent Edtech byju company, noted that the company made errors in its commercial decisions by expanding very quickly to 21 countries. This rapid expansion was mainly driven by pressure from prominent investors.

EDTECH, with a high value of high value, at a value of $ 22 billion, has faced a significant decline due to financial challenges, organizational obstacles and legal disputes. BYJU’s CEO also acknowledged the strategy difference, noting that the decision to secure a loan for $ 1.2 billion instead of using the available stock options is to leave the company vulnerable to external pressure.

“The only mistake, which created all this, that we should not take this, when we had enough stock options, we couldn’t take this loan at the time in 2021.

During an exclusive interview with Ani News Agency, Ravendran said: “When we tried to expand India to the entire world, we committed some of the work errors. We might have been able to take it a little slowly. We were growing very early, very quickly. We went from India to 21 new countries.

Byju also acknowledged that external total factors, such as the Russia-Ukraine war, have led to major investments in promised investments. This development had a major impact on the expansion and acquisition of the company.

He added: “We were collecting money for growth at the time. But when the world changed when interest rates rose, when the Federal Reserve increased the interest rate, almost simultaneously, the big war, Russia and Ukraine began, suddenly liquidity dried up.

The Edtech platform was presented in 2015, with a focus on the service of students ranging from kindergarten to Chapter 12. By 2019, the company reached an evaluation of more than a billion dollars, and obtained a desirable “Unicorn” mode. By 2022, the company’s evaluation increased to 22 billion dollars.

Ravendran highlighted the Beju’s effect on young professionals, focusing on ensuring fixed salaries for new graduates. The BYJU founders strongly rejected the allegations filed in a lawsuit by Glas, describing them as “baseless” and described it as a plot to control.

“It is a lost opportunity for India. My idea was to create a million educational jobs. You can now say, this is a great ambition. We have just started. We were at its peak as a tool. We created nearly 40,000 educational jobs. Then there was something else.

Rafandran explained his design not to abandon his creation, saying, “Despite the collapse, our soul is still uninterrupted.” He said with confidence to Ani, “I do not give up. We will regain control and return to a strong return, in any way or structure.”