Prosus Values Byju's At Zero From 2021 High of $22 Billion

Published On: June 25, 2024 - Once feted as India’s hottest start-up, Byju’s will possibly go down in corporate history as a case study in how NOT to run a venture—a $5-billion lesson. Almost a year after Dutch venture investment fund, Prosus, asked its director on the board of its investee company Byju’s to step down, it has taken the inevitable decision: write off its entire investment of $563 million in the edtech company. In a damning statement, Prosus said “We have written down Byju’s primarily because we have inadequate information on company’s financial health, liabilities, and future outlook.”