Why Has HSBC Cut Byju's Valuation To Zero? Understanding Edtech Giant's Crisis
6 months, 2 weeks ago

Why Has HSBC Cut Byju's Valuation To Zero? Understanding Edtech Giant's Crisis

News 18  

In a significant move, financial services giant HSBC has slashed the valuation of edtech company Byju’s to zero, as compared with the company’s valuation of $22 billion in 2022. “We assign zero value to Byju’s stake amid multiple legal cases and funding crunch,” according to the HSBC note. Forbes noted, “Only four people from last year’s list dropped off this time, including former edtech star Byju Raveendran, whose firm Byju’s was enveloped in multiple crises and its valuation was marked down by BlackRock to $1 billion, a fraction of its peak $22 billion valuation in 2022.” How Has Byju’s Plunged Into A Crisis? January 2024: BlackRock Slashes Valuation Finally, in January 2024, BlackRock slashed Byju’s valuation by 95 per cent to $1 billion amid media reports of Raveendran pledging his homes to pay staff, following the exit of several Byju executives and board members due to delays in filing the company’s 2021-22 financial results.

Financial Hsbc Zero Blackrock Byju Edtech Prosus Byju Raveendran Zero Value Cent Stake Valuation Cut Billion Valuation  crisis  financial  billion  valuation  cut  edtech  multiple  understanding  byjus  legal  cent  stake  giants  zero  hsbc  2023

History of this topic

Setback for Byju's as Australia-based investor slashes valuation by 98%
9 months, 3 weeks ago

Setback for Byju's as Australia-based investor slashes valuation by 98%

Hindustan Times  

Macquarie Capital, an Australia-based global financial services provider, has decided to slash by nearly 100% its valuation of struggling edtech firm Byju's, in which the former invested ‘a few million dollars’ in 2021, Bloomberg has reported quoting people familiar with the matter. This comes after Julius Baer Group Limited, a Swiss private banking group, accused Macquarie of charging clients based …

Byju's crisis explained: Why edtech firm, once valued at $22 bn, is witnessing financial downfall
10 months, 3 weeks ago

Byju's crisis explained: Why edtech firm, once valued at $22 bn, is witnessing financial downfall

Hindustan Times  

Ed-tech company Byju's has been grappling with a financial crisis, and in their latest move, the shareholders of the company have moved a resolution seeking the ouster of the founders from top leadership roles, including CEO Byju Raveendran. US-based investment firm Redwood cut a loan of $1.2 billion to Byju's in November 2021, but the ed-tech firm failed to make …

Shareholders ask Byju Raveendran to step down
10 months, 3 weeks ago

Shareholders ask Byju Raveendran to step down

Live Mint  

Mumbai: Several large shareholders of Think and Learn Pvt. Ltd., the parent entity of edtech startup Byju’s, have called for a change in the company’s management, including the removal of co-founder and chief executive Byju Raveendran, people aware of the development told Mint. General Atlantic, Prosus Ventures, Peak XV and Chan Zuckerberg Initiative, among others, signed a notice on Thursday …

Once a unicorn, Byju's slashes valuation by 90% to raise funds as it files financials after 22-month gap
11 months ago

Once a unicorn, Byju's slashes valuation by 90% to raise funds as it files financials after 22-month gap

Firstpost  

Byju’s, a beleaguered edtech startup, is going to slash valuation by more than 90 per cent from its previous round to raise fresh funds and alleviate its financial troubles. Once counted among the world’s most valuable startups, Byju’s is seeking more than $100 million from existing investors through a fresh issuance of shares scheduled for February 2024, at a price …

Blackrock marks down Byju's valuation to $1 bn
11 months, 1 week ago

Blackrock marks down Byju's valuation to $1 bn

Deccan Chronicle  

Chennai: The valuation of ed-tech start-up Byju’s has been further marked down to $1 billion by its investor Blackrock. According to disclosures, BlackRock valued Byju’s shares at about $209.6 in October 2023, down from the peak of $4,660 in 2022 – down by 95.5 per cent. While Prosus holds 3 per cent stake in Byju’s, Blackrock has 1 per cent …

BlackRock slashes Byju’s valuation to $1 billion, down 95%, says report
11 months, 1 week ago

BlackRock slashes Byju’s valuation to $1 billion, down 95%, says report

Live Mint  

Asset manager BlackRock has once again reduced its valuation of Indian ed-tech unicorn Byju’s, this time by around 95 percent from $22 billion to $1 billion, as per a Tech Crunch report citing company disclosures. Reversal of Fortune This valuation markdown represents a significant reversal of fortune for Byju’s, once considered the poster child of the Indian start-up ecosystem. Despite …

Prosus slashes Byju’s valuation to $5 billion: Report
1 year, 5 months ago

Prosus slashes Byju’s valuation to $5 billion: Report

Live Mint  

Dutch-listed technology investor Prosus NV has slashed the valuation of Indian edtech startup Byju's to $5.1 billion, according to a TechCrunch report. Prosus had downsized the value of its 9.6 per cent stake in Byju's to around $493 million in the financial year ended March 31, the report added. Byju's is caught in what many see as a governance crisis …

BYJU’S woes | A timeline tracing why India’s Edutech giant is in trouble at home and abroad
1 year, 6 months ago

BYJU’S woes | A timeline tracing why India’s Edutech giant is in trouble at home and abroad

The Hindu  

The financial woes of India’s most successful edutech company Byju’s continue to worsen as it skipped payment of $40 million interest on its $ 1.2-billion loan on June 6. March 2023: Byju’s lenders accelerate loan repayment According to the company’s statement, the group’s lenders in U.S led by investment management firm Redwood accelerated the TLB repayment alleging certain non-monetary and …

Byju’s in funding talks with TPG, sovereign funds as debt weighs
1 year, 10 months ago

Byju’s in funding talks with TPG, sovereign funds as debt weighs

Live Mint  

Byju’s is in negotiations with investors including TPG to raise more than $500 million, a much-needed capital infusion that could help the world’s most valuable edtech startup stave off potential debt issues. Several investment firms including TPG and two Middle Eastern sovereign wealth funds have begun due diligence on the Indian company, which is hoping to keep its valuation steady …

Why is Byju’s laying off employees and delaying payments?
2 years, 5 months ago

Why is Byju’s laying off employees and delaying payments?

Live Mint  

Bengaluru-based largest ed-tech company, Byju's, is in news for two very different reasons in two different countries. India's $22 billion firm is making headlines in India for joining the layoff bandwagon by announcing the termination of 500 employees in WhiteHat Jr, 1,100 in Toppr and reports suggest the number may be as high as 2500 across its group of companies. …

Byju's in talks to raise up to $1.5 billion after acquisition spree
3 years, 4 months ago

Byju's in talks to raise up to $1.5 billion after acquisition spree

India Today  

India’s leading edtech company Byju’s is in talks with several investors to raise approximately $1-$1.5 billion at a valuation of nearly $21 billion. The online tutoring company, which is the country’s most valuable startup, is reportedly seeking a 27 per cent jump from the earlier valuation of $16.5 billion, at which the company raised funds in June. In the past …

Edtech firm Byju’s to raise $200 million at $12 billion valuation
4 years, 1 month ago

Edtech firm Byju’s to raise $200 million at $12 billion valuation

Live Mint  

Bengaluru: Online education startup Byju’s is close to raising $200 million in a fresh funding round from American investment firms BlackRock and T. Rowe Price at a valuation of $12 billion, said a person familiar with the matter. The Bengaluru-based edtech firm had last raised $500 million in September from a group of investors including private equity firm Silver Lake …

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