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

BlackRock has again reduced the valuation of its share in edtech firm Byju’s — this time to about $1 billion, TechCrunch reported on Friday, citing disclosures made by the US-based asset manager. This is 95 per cent less than its peak valuation of $22 billion in 2022.

The markdown comes at a time when the company is facing a multitude of challenges, including securing fresh capital, delays in financial reporting and legal disputes with lenders.

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, according to the TechCrunch report.