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BlackRock has again reduced the valuation of its share in edtech firm Byju's - this time to about $1 billion, TechCrunch reported on Friday, citing disclosures made by the US-based asset manager. This is 95 per cent less than its peak valuation of $22 billion in 2022. The markdown comes at a time when the company is facing a multitude of challenges, including securing fresh capital, delays in financial reporting and legal disputes with lenders.

In a recent disclosure by US-based asset manager BlackRock, the valuation of its stake in ed-tech giant Byju’s has been further reduced to approximately $1 billion, marking a significant 95% decrease

With investors asking for a change in the board structure at Byju's, the edtech giant's founder and chief executive officer (CEO), Byju Raveendran, is now asking them to put $300 million into the company for more control. The company has rung up $5.8 billion from investors such as General Atlantic, Sofina, the Qatar Investment Authority, Sumeru Ventures, Vitruvian Partners, BlackRock, Chan Zuckerberg Initiative, Seq­uoia, Silver Lake, Bond Capital, Tencent, and Tiger Global.

By Peerzada Abrar ‘Byju’s financials only reflect the core business. At a group level, they are experiencing substantial losses.’ Beleaguered edtech giant Byju’s is grappling with the need to significantly reduce its losses in order to establish a sustainable business for the long term, according to industry insiders and analysts. The company is currently facing

'Byju's financials only reflect the core business. At a group level, they are experiencing substantial losses.'