BlackRock, a US-based investment firm, has once again downgraded the value of its position in Byju’s, bringing the edtech major’s estimate from $22 billion in early 2022 to just $1 billion.
Details on BlackRock lowers Byju’s estimated worth to just $1 billion
Less than 1% of Byju’s shares are owned by BlackRock, which has valued them at $209.6 a share, down from the top of $4,660 in 2022, according to TechCrunch.
Byju’s did not respond to the most recent valuation reduction right away. BlackRock has reduced the value of its position in Byju’s before. Prosus, an investment firm that owns almost 9% of Byju’s, has also reduced the value of its ownership interest to less than $3 billion, which is a decrease of more than 86% from the $22 billion valuation from the last funding round.
Prosus initially reduced the fair value of Byju’s to $5.97 billion in November of last year.
