“Byju’s Aims to Secure Investment Below $2 Billion Valuation – a 90% Decrease”

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Byju’s, once valued at $22 billion, is willing to cut its valuation to below $2 billion as it hunts for new funding, a person familiar with the matter told TechCrunch. Byju’s willingness to cut the valuation is a stunning reversal of fortune for the startup, once the poster child of the Indian startup ecosystem. Byju’s has been chasing for new funding for nearly a year. The new funding deliberation follows BlackRock cutting the value of its holding in Byju’s, slashing the implied valuation of the Indian startup to about $1 billion, according to disclosures made by the asset manager. Byju’s was preparing to go public in early 2022 through a SPAC deal that would have valued the company at up to $40 billion.