Prosus Loses Confidence in Byju’s, Takes $500 Million Hit


Major investor Prosus has written off its 9.6% stake in Indian edtech firm Byju’s, signaling a significant decline in confidence in the startup. According to Prosus’ earnings report on Monday, the write-off is due to the significant decrease in value for equity investors.

Prosus, a major player with high-profile investments including Tencent, Delivery Hero, Swiggy, and Stack Overflow, initially invested around $500 million in Byju’s over the years. The company had not sold any shares in Byju’s, whose valuation reached as high as $22 billion in early 2023.

In addition to Byju’s, Prosus also reported value decreases in other investments. The group’s stake in Stack Overflow, which was acquired for $1.8 billion, saw a 39% markdown. Prosus also reported a 35% decrease in the value of its stake in Indian online pharmacy PharmEasy.

Manish Singh
Manish Singh
Senior Reporter. Manish covers India’s startup scene and venture capital investments. He also reports on global tech firms’ India play. Previously, Singh wrote for about a dozen publications, including CNBC and VentureBeat. He graduated in Computer Science and Engineering in 2015.

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