BlackRock slashes Byju’s valuation to $1 billion amid ongoing challenges

In a recent disclosure by US-based asset manager BlackRock, the valuation of its stake in ed-tech giant Byju’s has been further reduced to approximately $1 billion, marking a significant 95% decrease from its peak valuation of $22 billion in 2022, reported TechCrunch on Friday, 12 January 2024. This markdown coincides with a challenging period for Byju’s, grappling with issues ranging from the quest for fresh capital to delays in financial reporting and legal disputes with lenders. BlackRock, in October 2023, had valued Byju’s shares at around $209.6 each, a stark drop from the pinnacle of $4,660 in 2022.