Netherlands-based Prosus, a major investor in Indian EdTech startup BYJU’S, wrote off its entire USD 493 million investment in the company for FY2024. Prosus had invested around USD 536 million in BYJU’S since 2018; at its peak valuation of USD 22 billion, its 9.6% stake was worth around USD 2.2 billion. The write-off follows a recent HSBC report, which assigned zero value to Prosus’ stake in BYJU’S due to legal issues and a funding crisis.
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