BlackRock has yet again cut the value of its holding in Byju’s, slashing the implied valuation of the Indian startup to about $1 billion from $22 billion in early 2022, according to disclosures made by the asset manager.
At the end of October last year, BlackRock said it valued Byju’s shares at about $209.6 apiece, down from the peak of $4,660 in 2022, implying a valuation of $990 million. The asset manager, like other mutual fund investors, makes multiple disclosures about its portfolio in a year, but doesn’t explain its rationale behind any valuation adjustments. Its new valuation adjustment hasn’t been previously reported.
Read more at: https://techcrunch.com/2024/01/11/blackrock-cuts-byjus-valuation-by-95-to-1-billion/