In a candid conversation with ANI in May this year, Raveendran acknowledged that strategic missteps, hasty global expansion, and unexpected macroeconomic shocks contributed to BYJU’S unravelling over the past few years. Raveendran traced the crisis to the company’s aggressive push into 21 countries during the pandemic-era boom from 2019 to 2021, fuelled by capital and investor pressure to grow. “Every investor — we have 160 world-class equity investors — the mandate was: grow, grow, change the way kids learned,” he said. “We were raising money for growth… [but] when the world changed — interest rates went up, the Russia-Ukraine war started — liquidity dried up, $700 million of signed, committed capital didn’t…
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