'Made mistake in estimating Byju's growth potential'

MUMBAI: Byju's made the mistake of "over-estimating" the company's growth potential at the peak of its business helped by the onset of Covid, which nudged students to move to digital learning overnight, and entered lot of markets together in its quest for fast growth which was a "little too much too soon," founder Byju Raveendran said on Thursday.

Backed by storied investors during its heyday, who were pushing the company for rapid expansion into newer territories and ascribing high valuations to the startup, Byju's got "carried away," Raveendran said. But despite all crises, the founder is plotting a comeback and is hopeful of a turnaround. "I will make a comeback. By comeback, I do not mean that we will go back to being a $20 billion company but it means that we will continue with our mission. I will come back to India and take classes in a stadium. It takes just one investor to make a comeback," he said.