BlackRock cuts Byju’s valuation for 2nd time
BlackRock has marked down the value of its stake in Indian edtech start-up Byju's by 26% in Q1 2022 and by 62% YoY, reducing the firm's estimated valuation to less than $8.4bn. Byju's, currently seeking fresh capital to repay loans, was valued at $22bn in 2021. Fellow asset manager T. Rowe Price increased the value of its stake in the start-up by 11.5% in Q1 2022. The markdowns may make it difficult for Byju's to convince investors to put in fresh capital at its desired valuation.
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