Byju's valuation fell to zero, at one time the company was valued at $22 billion


A report released by financial firm HSBC said that the valuation of edtech company Byju's has become zero. Let us tell you, Byju's was once among the country's largest edtech companies and its valuation was around $22 billion. HSBC has reduced the value of about 10 percent stake (about $500 million) of Prosus, a company that has invested in Byju's, to zero.

HSBC said in a note that due to litigation and lack of funding, we have reduced the value of our stake in Byju's to zero. It was further said that earlier we had kept 10 percent stake at 80 percent discount as per the latest company valuation. Let us tell you, the edtech company is currently struggling to pay salaries to its employees and due to this the company is also facing many legal cases. At the end of last year, a Prosus executive said that Byju's is facing many legal difficulties. We are talking to the company about this every day. Byju's was also preparing to bring its IPO in early 2022.

But due to poor financial condition, the company had to postpone it. In early January, US investment firm BlackRock reduced Byju's valuation to $1 billion, which was at $22 billion in early 2022. BlackRock's stake in Byju's is less than one percent. Earlier this week, a group of people who had lent money to the company filed a petition against bankruptcy of Byju's subsidiary in the US. It was said that these companies are not paying their loans.

Previous articleHeat wave, severe heat damages banana crop
Next articleNitish Kumar and Chandrababu Naidu belong to everyone, sometimes yours and sometimes ours: Sanjay Raut
Atul Kumar Gupta
Atul Kumar Gupta is a Blogger and content creator who works for and and and Atul believes that content creation is best way to express your thoughts and it helps a lot of people to get some useful information. In addition to blogging and content creation, he manages many Facebook page. He has been working for last 1 years in this field. He is graduating from Lakshmi Narain College of Technology Bhopal Madhya Pradesh India.