Saturday, 8 June, 2024

BlackRock Writes Off $22 Billion Stake in Byju's to Zero

BlackRock has dramatically devalued its stake in Indian edtech giant Byju's, reducing its worth from $22 billion to zero. This move reflects the financial turmoil and challenges facing Byju's, once a high-flying startup. The valuation adjustment underscores the broader concerns over the company's financial health and governance, impacting investor confidence and the edtech sector's outlook.