Blackrock, a minority investor in Byju’s, cuts startup valuation to $8.4 billion

Blackrock, a minority investor in Byju’s, has yet again cut the valuation of its holding in the Bengaluru-based startup, this time to about $8.4 billion, even as the most Indian valuable startup continues to raise capital at a better price.
Blackrock cut the value of Byju’s share by 62% in the quarter ending March this year, from a year ago, it disclosed in a filing.
Nonetheless, a series of qualifications merit attention: Blackrock is not a substantial stakeholder in Byju’s, and owns less than 1% equity in the startup.
A similar move from Prosus, one of the more prominent in

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