US-based investment fund BlackRock Inc. has marked down the fair value of its investments in Byju's again, causing the beleaguered startup's valuation to plummet to $1 billion.
In a filing on Jan. 5, BlackRock Global Allocation Fund valued one share of Byju's parent, Think & Learn Pvt., at about $209.5 apiece. BlackRock holds a 0.9% stake in the company, which implies a valuation of $1 billion, down from its peak $22 billion valuation.