Prosus writes off investment in Byju’s, records $493 million loss

Investment firm Prosus has written off the value of its 9.6 per cent stake in edtech company Byju’s. This is perhaps one of the biggest writeoffs in tech startups by a marquee investor.

Prosus recorded a fair value loss of $493 million on account of its investment in the company, the Dutch tech investor said in its FY24 annual report on June 24. “In this financial year, the group wrote off the fair value of its 9.6 per cent effective interest in Byju’s, due to the significant drop in value for equity investors. A fair value loss of $493 million was recognised in other comprehensive income in the current year,” said Prosus in its annual report.