Investment firm Prosus has declared a $493 million write-off on its 9.6% stake in Byju’s, citing insufficient information on the edtech firm’s financial health and outlook. This decision, reflected in their FY24 annual report, follows concerns over Byju’s legal issues and financial challenges. Previously valued at $22 billion, Byju’s has seen its valuation plummet, with recent assessments marking it significantly lower. Prosus and other major investors have taken steps, including legal actions, amid ongoing disputes, impacting Byju’s operations and financial stability.
Prosus Writes Off $493 Million Byju’s Stake Amid Uncertainty
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