Setback for Byju’s: BlackRock slashes valuation by whopping 95% to just $1 billion

BlackRock, the world's largest asset manager, has reduced the estimated value of edtech firm Byju's to $1 billion, marking a decline of over 95% from its previous valuation. Byju's, headquartered in Bengaluru, is facing operational difficulties and exploring the sale of group assets to address its debt.