In a significant blow to India’s ed-tech giant Byju’s, BlackRock, the world’s largest asset manager, has marked down the valuation of Byju’s parent company, Think & Learn, by more than 95%. Recurrent Valuation Woes for Byju’sThis isn’t the first time this company has faced a valuation markdown. The latest cut by BlackRock, a third within 2023, signals ongoing challenges and uncertainties surrounding Byju’s financial health and market standing. Detailed Valuation Adjustment by BlackRockBlackRock’s regulatory filing revealed a valuation of $209.57 per share for Think & Learn, translating to an overall valuation of approximately $1 billion for Byju’s. In conclusion, Byju’s journey from a $22 billion valuation to a mere $1 billion underscores the tumultuous nature of the edtech sector and the challenges faced by once-dominant players.

Source: Economic Times January 12, 2024 20:09 UTC