Monday, 24 June, 2024

Prosus Writes Off $493 Million Investment in Byju's

Prosus has decided to write off its investment in Byju's, resulting in a significant $493 million loss. This move reflects the challenges faced by the Indian edtech giant amidst financial and operational difficulties. The write-off underscores the complexities and risks associated with large-scale investments in the rapidly evolving education technology sector, impacting Prosus's financial outlook and highlighting the volatility of the edtech market.