Prosus slashes Indian edtech giant Byju’s valuation to ‘sub-$3 billion’ | TechCrunch

Prosus has marked down the valuation of Byju’s, India’s most valuable startup, to below $3 billion, the investment giant’s executives said in an earnings call Wednesday even as they asserted that they remain bullish on the opportunities in the South Asian market.

The Bengaluru-headquartered startup, which has raised over $5 billion in equity and debt over the years, was valued at $22 billion in its last financing round in early 2022.

More to follow.