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The company, valued at $22 billion in its last financing round in early 2022, announced last month that it would raise approximately $200 million through a rights issue.
Byju's, once among the world's most valuable startups, faced many challenges with venture capital funding and the demand for online learning becoming scarce in a post-Covid world. ....
In another blow to Byju's, tech investor Prosus cut the edtech startup's valuation to under $3 billion, 86% less than its peak valuation of $22 billion last year. ....
Buffeted by problems from all sides, Think and Learn the corporate name Byju’s goes by is battling a sharp valuation markdown from one of its investors, Prosus, which has reduced the firm’s valuation from the earlier $22 billion (which made it the world’s most valued edtech firm) to just $5.1 billion now. - Issue Date: Sep 17, 2023 ....
Another challenge besetting start-ups is valuations getting slashed by investors. Experts believe that the increased focus on profitability and reduction in expenses has sparked this trend. This is a wake up call for start-ups to focus on financial metrics to grow and scale up. Here are some start-up biggies who saw their valuations getting slashed. ....