![BlackRock cuts BYJU’s valuation to $1 bn](https://images.assettype.com/fortuneindia%2F2022-08%2F94ba9cc8-f58c-4cd7-a347-13e30630f024%2FByjus.jpg?rect=0,167,4864,2432&w=300&q=95)
BlackRock cuts BYJU’s valuation to $1 bn
It’s around a 95% drop in the valuation of a company valued at $22 billion in early 2022
It’s around a 95% drop in the valuation of a company valued at $22 billion in early 2022
Ed-tech major has reportedly received ED notice under FEMA violations worth ₹9,000 cr; ED yet to officially issue a statement on the matter
Byju's standalone income, which comprises its K-12 business, stood at ₹1,551.64 crore in FY21, while it reported a massive jump in expenditure at ₹4,253.78 cr.
Ed-tech major Byju's says it has adopted a "three-pronged" approach to achieve its plan of group-level profitability by March 2023.