- BlackRock slashed its valuation of Indian edtech Byju by 95% to $1 billion from a $22 billion peak.
- Byju’s has faced struggles, including missed targets, executive departures, and investor tensions.
- The severe markdown reflects lost confidence in Byju’s growth and management instability.
BlackRock sharply cut its implied valuation of Indian edtech startup Byju to $1 billion, down from a peak of $22 billion in early 2022. The 95% haircut came in BlackRock’s latest portfolio disclosures, though the asset manager didn’t detail its rationale.
Valued below $3 Billion
This follows previous markdowns by BlackRock and other Byju backers like Prosus, which now values the once high-flying startup at below $3 billion.
At its peak, Byju is ranked as India’s most valuable startup at $50 billion.
Faced countless struggles
Byju’s has faced mounting struggles, including missed targets, executive departures, and investor tensions. It delayed releasing financials for the fiscal year ending March 2022 that showed revenue shortfalls.
The edtech leader planned to go public 2022 at a $40 billion valuation but shelved IPO plans due to market turmoil. Today, Byju’s is battling to raise capital, make payroll, and pay over $1 billion in debt.
.jpg)
A loss of confidence
BlackRock’s severe repricing reflects lost confidence in Byju’s growth prospects and management instability. From poster child to cautionary tale, the startup exemplifies volatile Indian tech euphoria, giving way to reality.
