Saturday, 8 June, 2024
BlackRock Writes Off $22 Billion Stake in Byju's to Zero
![BlackRock Writes Off $22 Billion Stake in Byju's to Zero](https://d3vnc3w6v6jm99.cloudfront.net/lenders-approve-changes-to-byju-s--1-2-billion-loan-terms.webp)
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.
Read full story at TechCrunch