BYJU'S slashes valuation by 99% in desperate funding bid
Shortpedia
Content Team
Image Credit: newsbytes
BYJU'S has cut its valuation as by a staggering 99% in the latest rights issue. Once touted as the world's most valuable edtech start-up, the company is struggling to raise money. BYJU'S is seeking to raise $200 million at a post-money valuation of $225 million, which is 99% lower than the company's valuation of $22 billion in 2022. The edtech giant said fresh funds are "essential to prevent any further value impairment."
