Byju Investor Prosus Cuts Indian Tech Company’s Valuation by 15%
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Prosus NV slashed the value of its holding in Byju’s by 15%, the investor’s second reduction in less than a year, as the beleaguered Indian ed-tech startup fights off an investor uprising.
Prosus set the fair value of its 9.6% stake at $493 million, pegging Byju’s total value at about $5.1 billion, according to a disclosure in the Dutch tech investor’s annual report on Tuesday. Prosus also reduced the valuation in September, saying it lost influence over Byju’s financial and operating policies.