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BlackRock cuts Byju’s valuation by 95% to $1 billion
BlackRock has cut the value of its holding in Byju's, slashing the implied valuation of the Indian startup to $1 billion from $22 billion in early 2022, BlackRock has cut the value of its holding in Byju's, slashing the implied valuation of the Indian startup to $1 billion from $22 billion in early 2022.
At the end of October last year, BlackRock said it valued Byju’s shares at about $209.6 apiece, down from the peak of $4,660 in 2022. The asset manager, like other mutual fund investors, makes multiple disclosures about its portfolio in a year, but doesn’t explain its rationale behind any valuation adjustments. BlackRock, which owns less than 1% of Byju’s, didn’t immediately respond to a request for comment Thursday.
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