Prosus cuts Byju’s valuation to under $3 billion

November 29, 2023
Posted by: AliensFaith
Category: OBJECTIVE PRESS

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Netherlands-based technology investor Prosus, which holds about 9.6% stake in Byju’s, has marked down the startup’s valuation to under $3 billion. This translates into an 86% drop from its peak valuation of $22 billion at which the troubled firm had raised $250 million from investors in October last year. The disclosure was made by Ervin Tu, the interim group CEO of Prosus and Naspers, during the firm’s post earnings call on Wednesday. Earlier this year, Prosus valued the startup at $5.1 billion.

Author: AliensFaith

HighTech FinTech researcher, university lecturer & Scholar. He is studying his second doctoral degree at the Hague International University. Studying different fields of Sciences gave him a broad understanding of various aspects of life. His recent researches covered AI, Machine-learning & Automation concepts. The Information Technology Skills & Knowledge gave his company a higher position over other regional high-tech consultancy services. The other qualities and activities which can describe him are a Hobbyist Programmer, Achiever, Strategic Thinker, Futuristic person, and Frequent Traveler.

Prosus cuts Byju’s valuation to under $3 billion

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