Prosus cuts India’s Byju’s valuation to under $3 billion By Reuters

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<span>© Reuters. FILE PHOTO: Byju’s logo is seen in this illustration taken, June 22, 2023. REUTERS/Dado Ruvic/Illustration</span><br />
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<p>MUMBAI (Reuters) – Prosus (OTC:) NV, an investor in once-hot Indian education firm Byju’s said on Wednesday it is valuing the firm at under $3 billion, 86% less than its peak valuation of $22 billion last year, as the company has struggled with governance and cash flow problems.</p>
<p>The disclosure, made by interim CEO Ervin Tu during Prosus earnings call, is Byju’s latest and most significant valuation cut. </p>
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<br /><a href="https://www.investing.com/news/stock-market-news/prosus-cuts-indias-byjus-valuation-to-under-3-billion-3245452">Source link </a></p><p>The post <a href="https://forextraderhub.com/prosus-cuts-indias-byjus-valuation-to-under-3-billion-by-reuters.html">Prosus cuts India’s Byju’s valuation to under $3 billion By Reuters</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>