BlackRock, an investor in Byju’s, estimates that its stake of Indian edtech giant, once valued at $22 billion, is now worth nothing.
So it doesn’t come as a surprise that BlackRock has implied a zero valuation to Byju’s.
At the end of October last year, BlackRock had cut the valuation of Byju’s to about $1 billion.
However, the research’s note chart (embedded below) did use zero in the column for estimated value.
The story has also been updated to emphasize BlackRock’s valuation adjustment in its Byju’s stake.
In a research note, HSBC estimates that the Indian edtech giant Byju’s, once valued at $22 billion, is now worth nothing.
The write-down in its estimation makes Byju’s one of the most spectacular startup slides in recent memory.
Those issues — coupled with abrupt resignations from its auditor and board members — contributed to derailing a $1 billion fundraise deliberation by Byju’s.
Prosus, one of Byju’s largest investors, publicly slammed the startup, alleging it “regularly disregarded advice” from the backer.
It stands to reason then, that in the research note HSBC also estimated the value of Prosus’ 10% stake in the Indian startup to be zero because of the ongoing legal cases and funding crunch.
When you sign up to a new social network, you have zero friend, zero follower, zero like.
A new app called Palmsy is trying to act as social media methadone by letting you post anything and getting likes on them.
While the app is reading your contact details, because all posts are local, contact information is not sent to a server.
There have been multiple time-limiting apps that try to help when it comes to reducing social media addiction.
Some developers have also released very basic apps to post dumb posts without consequences as well.
Bitcoin’s rally is turning out to be bad news for Coinbase, the crypto trading app that has just confirmed some of its customers are seeing a zero balance across their Coinbase accounts.
The price of Bitcoin climbed in the wake of U.S. spot Bitcoin ETFs, driving a 42% price rally this month.
Users of the Coinbase app grew concerned on Wednesday as they logged in to find their accounts showing a zero balance, despite owning crypto assets.
We are aware that some users may see a zero balance across their Coinbase accounts & may experience errors in buying or selling.
Remarked one user on X, who shared a picture of a zero balance, “My mom called and asked me and mine was at zero also,” they said.
U.S. software giant Ivanti has confirmed that hackers are exploiting two critical-rated vulnerabilities affecting its widely-used corporate VPN appliance, but said that patches won’t be available until the end of the month.
Ivanti said the two vulnerabilities — tracked as CVE-2023-46805 and CVE-2024-21887 — were found in its Ivanti Connect Secure software.
Formerly known as Pulse Connect Secure, this is a remote access VPN solution that enables remote and mobile users to access corporate resources over the internet.
When TechCrunch asked why patches weren’t being made available immediately, Ivanti declined to comment.
Ivanti is urging that potentially impacted organizations prioritize following its mitigation guidance, and U.S. cybersecurity agency CISA has also published an advisory urging Ivanti Connect Secure to mitigate the two vulnerabilities immediately.
