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Byju's Valuation Plunge: The Factors Behind the $22 Billion to $1 Billion Drop

  • BlackRock, with a stake of less than 1%, has significantly reduced its valuation of edtech firm Byju's, once valued at $22 billion, to $1 billion.

  • By the end of October 2023, BlackRock valued Byju's shares at $209.6 apiece, compared to the peak of $4660 apiece in 2022, indicating the drastic decline in valuation.

  • The asset manager's disclosure is part of routine portfolio disclosures, and BlackRock, like other mutual fund investors, does not provide specific reasons for valuation adjustments.

  • This isn't the first time BlackRock has lowered the worth of its holdings in Byju's, reflecting ongoing challenges for the embattled edtech company.

  • Other investors, including Prosus with a 9% stake, have also significantly reduced their valuation of Byju's, stating it's 'sub $3 billion.

  • Byju's, founded by Byju Raveendran and Divya Gokulnath, experienced a stunning reversal of fortune, going from a $22 billion valuation to $1 billion, despite spending over $2.5 billion on acquisitions in 2021 and 2022.

  • Backed by Peak XV Partners, Lightspeed, UBS, and Chan Zuckerberg Initiative, Byju's has raised over $5 billion in equity and debt over the past decade.


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