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

The world’s largest asset manager, BlackRock, has marked down the valuation of its shares in Byju’s, for the third time over the course of 2023.

In a regulatory filing made on January 5 with the US Securities and Exchange Commission for the quarter ended October 2023, BlackRock has valued its shares at $209.57 apiece. It holds less than 1% stake in the firm. This would ascribe a valuation of around $1 billion to the struggling edtech company. Earlier BlackRock had valued it at $8.2 billion at the end of March quarter of 2023.