Previously, BlackRock had valued Byju s at $8.2 billion at the end of the March quarter of 2023. For Byju s, this is not the first valuation markdown. Last year, Prosus cut Byjus valuation to below $3 billion, while Peak XV Partners, formerly Sequoia Capital India, told its limited partners (LPs) it would have to significantly mark down the value of its holding.
Late last year, Prosus said it had ceased equity accounting of Byjus as it had lost “significant influence” over the firm after its holding slipped below 10%.