Byju’s founder Byju Raveendran has admitted that one of the company’s biggest mistakes was opting for a $1.2 billion term loan in 2021, despite having sufficient equity funding options.
In an interview with ANI, Raveendran revealed that the decision, made collectively with board members including investor and founder directors, was not driven by desperation, as the company had raised $5 billion earlier.
Reflecting on the move, he acknowledged that alternative options were available and the loan ultimately contributed to Byju’s financial…