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Blackrock slashes edtech unicorn Byju’s valuation by 95% to $1-B

Business World  

Blackrock, the world’s largest asset manager, has once again devalued its shareholding in Byju’s, marking the third markdown within a year. The latest valuation, disclosed in a regulatory filing with the US Securities and Exchange Commission, amounts to USD 209.57 per share, attributing a value of around USD 1 Billion to the struggling edtech company, in which BlackRock holds less than 1% stake.Byju’s was last valued at USD 22 billion during its fundraising in October 2022, but has since faced a significant reduction in its business operations and is reportedly exploring asset sales to address its debts.