Prosus Writes Down $22 Billion Education Startup Byju's To Zero
Dutch technology investor Prosus has written down its stake in Indian edtech firm Byju's to zero, a stark fall for a startup once valued at $22 billion. Prosus, holding a 9.6% stake, cited a "significant decrease in value for equity investors" in its earnings report. Byju's, which sells online courses to K12 students, is grappling with financial and governance issues and declining revenues. The departure of its auditor and board members, including a Prosus executive, further rattled investor confidence last year.

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