320-x-100_uti_gold.jpg" alt="Advertisement">
BlackRock slashes India`s Byju`s valuation by 95% to $1 billion - TechCrunch
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
BlackRock has yet again cut the value of its holding in Byju's, slashing the implied valuation of the Indian education tech startup to $1 billion from $22 billion mark set in early 2022, TechCrunch reported on Friday, citing disclosures made by the asset manager.
BlackRock, which owns less than 1% of Byju's, declined to comment, while Byju's did not immediately respond to a Reuters request for comment.
Tech investor Prosus NV valued Byju's at under $3 billion in November last year after BlackRock cut its valuation to about $8.4 billion in May, the report said.
Amid a string of setbacks, Byju's received a notice from Enforcement Directorate (ED) in late November and is expected to pay a fine for alleged violations of foreign exchange laws.
