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.
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
By Peerzada Abrar Dubai has laid out an ambitious $8.7 trillion economic plan in a decade under the Dubai Economic Agenda (D33) to boost its position as a financial and innovation hub, said Hadi Badri, chief executive officer, Dubai Economic Development Corporation, Dubai Department of Economy and Tourism. Badri who visited India recently, said
Walmart-owned digital payments firm PhonePe has decided to halt its proposed acquisition of Goldman Sachs- and Xiaomi-backed ZestMoney, a Bengaluru-based buy now, pay later (BNPL) platform.
The deal, which was poised to fetch anywhere between $150-200 million and $300 million, has hit a snag over lapses in due diligence, disagreements over valuation, sustainability of the business, and shareholding structure of ZestMoney, according to people familiar with the matter.
The collapse of the deal is also being attributed to a slowdown in the financial technology (fintech) sector in the midst of a funding winter, difficult regulatory environment, and macroeconomic uncertainty, informed other sources.
ZestMoney By Peerzada Abrar Lapses in due diligence, valuation disagreements, funding winter, tough regulatory environment, fintech slowdown being cited as reasons. Walmart-owned digital payments firm PhonePe has decided to halt its proposed acquisition of Goldman Sachs- and Xiaomi-backed ZestMoney, a Bengaluru-based buy now, pay later (BNPL) platform. The deal, which was poised to fetch