Prosus Writes Off 9.6% Stake in Byju's to Zero
Monday, 24 June 2024, 07:00
Prosus Writes Off 9.6% Stake in Byju's to Zero
Major investor Prosus has made a bold decision to write off the worth of its 9.6% stake in Byju's, an edtech firm based in India. This move is a clear signal of the diminishing faith in the company, which was once highly valued in the market.
Diminished Confidence in the Startup
By reducing the stake value to zero, Prosus has effectively communicated a lack of confidence in the future prospects of Byju's. This decision highlights the challenges faced by once-promising startups in maintaining investor trust and support.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.