Reported 8 months ago
Tech investor Prosus NV has completely written off the fair value of its 9.6% stake in Indian edtech startup Byju's during the financial year 2024. This move by the Dutch firm comes as Byju's, once valued at $22 billion, has faced financial, legal, and operational challenges, resulting in a significant decrease in its valuation. Prosus recognized a fair value loss of $493 million in its annual report, reducing Byju's valuation to under $3 billion from its peak of $22 billion.
Source: YAHOO