BlackRock slashes Byju’s valuation by 95 per cent to $1 billion

Asset manager BlackRock has slashed the implied valuation of struggling edtech firm Byju’s to less than $1 billion, a drop of 95% from $22 billion set in early 2022.

The US-based asset manager, which owns less than 1% of Byju’s, in its disclosures valued Byju’s shares at about $209.6 apiece, down from the peak of $4,660 in 2022.

While Blackrock, like other mutual fund investors, makes multiple disclosures about its portfolio during a year, it keeps its valuation rationale under wraps. Byju’s did not immediately respond to a request seeking comments.