India's Byju's valuation dropped by 75%

Once a shining star in the Indian startup scene, Byju's, a leading edtech company, is grappling with a series of blows in the form of valuation cuts that have sent shockwaves through the industry.

The latest blow came from Dutch-listed investor Prosus NV, a subsidiary of South African media conglomerate, Naspers.

In October 2022, Byju's valuation stood at $22 billion when it raised a 250 million round, but according to Prosus' annual report, it has plummeted from its glorious peak to $5 billion, a 75% drop.