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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The estimated number is 73% below the value at which the edtech startup raised funds in October.
Prosus, the Netherlands-listed international internet assets arm of South African group Naspers, on Wednesday said the fair value of its 9.67% stake in Byju’s is $578 million. It would mean that the investment company believes the fair value of India’s largest edtech firm is $5.97 billion.
That is 73% below the $22 billion valuation at which the Bengaluru-based company says it raised funds in October.
Prosus’s measure, however, is not the last word on Byju’s valuation. Different investors value private companies differently in their accounts and it is possible that a larger shareholder values their shares in the edtech company …
Believing education is the key to success, Unacademy raised $880 million and reached a $3.4 billion valuation, only to crash 90%. Its co-founder and CEO gets candid about the state of the startup and Indian edtech.
The platform’s pre-IPO debt funding raises fresh questions about cash flows and SEBI’s role. Investors will do well to take note.
For one of the world’s largest and shrewdest investors to entirely skip putting money in the country is a sign of how quickly the nature of the Indian startup ecosystem has changed.
