<p>New Delhi: Byju Raveendran, the founder of what was once India's biggest start-up, Byju's, said he overestimated the growth potential of his education-technology company which is now "worth zero" as it faces insolvency, but remains hopeful of rescuing it.</p>.<p>Byju's, which operates in more than 21 countries, became popular during the Covid-19 pandemic by offering online education courses. Its valuation shot up to $22 billion (Rs 8404 crore) in 2022, but Byju's has for months faced demands for unpaid dues and allegations of mismanagement, which it denies.</p>.<p>"The company is worth zero. What valuation are you talking about? It is zero," Raveendran said during an interaction with reporters via video conferencing from Dubai late on Thursday.</p>.Ready to pay back lenders' money before taking any single rupee out: Byju Raveendran.<p>"We overestimated potential growth, entered (a) lot of markets together. It was little too much, too soon," he said in his first media briefing in 18 months.</p>.<p>Byju's was entered into insolvency after US lenders complained to the Indian Supreme Court in August about misuse of $1 billion borrowed by the company.</p>.<p>Raveendran denied all allegations of wrongdoing on Thursday.</p>.<p>Glas Trust, which represents the protesting lenders, did not respond to a request for comment. The Supreme Court is yet to rule on Glas's grievances in dispute with Byju's.</p>.<p>The company was once a darling of global investors, backed by likes of General Atlantic.</p>.<p>It has suffered numerous setbacks in recent months, from boardroom exits and criticism over delayed financial disclosures to the public spat with foreign investors over mismanagement.</p>.<p>Raveendran is an Indian mathematics whiz who went from being a teacher to a startup billionaire before Byju's imploded this year.</p>.<p>"Whatever is coming, I will find a way out," he said on Thursday.</p>
<p>New Delhi: Byju Raveendran, the founder of what was once India's biggest start-up, Byju's, said he overestimated the growth potential of his education-technology company which is now "worth zero" as it faces insolvency, but remains hopeful of rescuing it.</p>.<p>Byju's, which operates in more than 21 countries, became popular during the Covid-19 pandemic by offering online education courses. Its valuation shot up to $22 billion (Rs 8404 crore) in 2022, but Byju's has for months faced demands for unpaid dues and allegations of mismanagement, which it denies.</p>.<p>"The company is worth zero. What valuation are you talking about? It is zero," Raveendran said during an interaction with reporters via video conferencing from Dubai late on Thursday.</p>.Ready to pay back lenders' money before taking any single rupee out: Byju Raveendran.<p>"We overestimated potential growth, entered (a) lot of markets together. It was little too much, too soon," he said in his first media briefing in 18 months.</p>.<p>Byju's was entered into insolvency after US lenders complained to the Indian Supreme Court in August about misuse of $1 billion borrowed by the company.</p>.<p>Raveendran denied all allegations of wrongdoing on Thursday.</p>.<p>Glas Trust, which represents the protesting lenders, did not respond to a request for comment. The Supreme Court is yet to rule on Glas's grievances in dispute with Byju's.</p>.<p>The company was once a darling of global investors, backed by likes of General Atlantic.</p>.<p>It has suffered numerous setbacks in recent months, from boardroom exits and criticism over delayed financial disclosures to the public spat with foreign investors over mismanagement.</p>.<p>Raveendran is an Indian mathematics whiz who went from being a teacher to a startup billionaire before Byju's imploded this year.</p>.<p>"Whatever is coming, I will find a way out," he said on Thursday.</p>