Byju’s started as an EdTech platform that once had a business valuation of up to $22 billion from investments. It was once the highest-valued startup in India, backed by investment firm BlackRock, which now holds zero shares in Byju’s according to the latest investment portfolio report.
BlackRock had previously valued Byju’s at $22 billion in early 2022, but various issues led to a decrease in valuation to $1 billion last year, and now it stands at zero. Byju’s saw significant growth during the COVID-19 pandemic as students were unable to attend physical schools. The company raised over $5 billion in funding and had plans to go public in 2022, but market conditions halted those plans. Simultaneously, the economic downturn resulted in a decrease in revenue, leading to missed loan payments. The company filed for financial restructuring in 2023, and creditors have filed for bankruptcy against Byju’s.
Other investors in Byju’s include Prosus (holding around 10% equity), Chan-Zuckerberg Initiative, Sequoia Capital, and Tencent. Sources: TechCrunch and Business Insider.
TLDR: Byju’s, once valued at $22 billion, has seen its valuation plummet to zero due to various issues, including the economic downturn, missed loan payments, and creditors filing for bankruptcy. Other investors in Byju’s include Prosus, Chan-Zuckerberg Initiative, Sequoia Capital, and Tencent.
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