After reducing the valuation of Byju's in April, BlackRock, the US-based firm, has again slashed the valuation of the edtech company to about $8.4 billion, about 62% cut.
BlackRock is a minority investor in Byju's and this comes at a time when the edtech company is yet to file its FY22 results with the Ministry of Corporate Affairs (MCA).
Byju's recently raised $250 million in a fresh funding round and investment firm Davidson Kempner has invested in the company.
The fund-raising announcement came a few days after the Enforcement Directorate (ED) conducted searches and seizure action at the premises of the edtech major under the provisions of Foreign Exchange Management Act (FEMA).
Diese Geschichte stammt aus der May 31, 2023-Ausgabe von The Morning Standard.
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Diese Geschichte stammt aus der May 31, 2023-Ausgabe von The Morning Standard.
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Are Manchester City making a case for England’s greatest-ever team?
MANCHESTER City strengthened their case to be ranked as English football's greatest-ever team by winning the Premier League title for an unprecedented fourth consecutive year on Sunday. No side has ever enjoyed the stranglehold over the English top flight that City have held during Pep Guardiola's glorious reign as manager.
From leaving Baroda to IPL via TNPL, Swapnil’s comeback story
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Relentless training, sessions with Yuvraj behind Abhishek’s success
\"HE (Abhishek Sharma) is amazing. I wouldn't want to bowl to him. It's scary as he plays with freedom, not only against pacers but also against spinners.\"
BACK TO THE FUTURE
As past champs Gambhir, Yusuf back in West Bengal, albeit for different goals, Knight Riders get ready to take on Sunrisers in Qualifier on Tuesday
1/3rd shoppers use ecomm for discretionary spending
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CV sales to see single-digit growth in FY25: VECV MD
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CCI tracking data dominance, algorithmic collusion
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Govt begins selection process for new SBI chief
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Mid-tier IT firms outperform larger peers
Formers are growing between 6-15%, the latters’ growth constant currency terms is between 4 and 3%
Lucknow records low turnout at 52%
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