https://techcrunch.com/2023/06/27/prosus-byjus-markdown/

Prosus, the largest non-founder shareholder in Byju’s, has drastically slashed the worth of its stake in the edtech giant, implying a starkly diminished valuation of $5.1 billion to the Indian startup.

Prosus disclosed on Tuesday that it had downsized the value of its 9.6% stake in Byju’s to around $493 million in the financial year ending in March. This figure stands in stark contrast to the $6 billion at which Prosus had valued Byju’s as recently as November of the previous year. More concerningly, that’s a staggering drop from the $22 billion valuation at which Byju’s has raised multiple tranches of funding in the past 18 months.