BlackRock Slashes Byju’s Valuation to $1 Billion Amid Challenges

BlackRock Slashes Byju's Valuation to $1 Billion Amid Challenges

VoM News Desk | January 12, 2024 | 09:36 AM IST | Breaking News | Follow on Google News

BlackRock Slashes Byju’s Valuation to $1 Billion Amid Challenges/Reuters

BlackRock Slashes Byju’s Valuation to $1 Billion Amid Challenges

BlackRock has reduced the implied valuation of Indian edtech startup Byju’s to $1 billion, marking a significant cut from the $22 billion valuation set in early 2022.

The asset manager owns less than 1% of Byju’s. This comes after a series of setbacks for Byju’s, including a notice from the Enforcement Directorate (ED) in November, leading to potential fines for alleged violations of foreign exchange laws.

Despite the challenges, Byju’s is yet to publicly respond to the recent valuation cut by BlackRock.

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