{"id":825589,"date":"2024-06-25T09:30:12","date_gmt":"2024-06-25T04:00:12","guid":{"rendered":"https:\/\/telecomlive.in\/web\/?p=825589"},"modified":"2024-06-25T09:56:41","modified_gmt":"2024-06-25T04:26:41","slug":"prosus-writes-off-9-6-stake-in-byjus-marking-493-million-in-loss","status":"publish","type":"post","link":"https:\/\/telecomlive.in\/web\/2024\/06\/25\/prosus-writes-off-9-6-stake-in-byjus-marking-493-million-in-loss\/","title":{"rendered":"Prosus writes off 9.6% stake in Byju&#8217;s, marking $493 million in loss"},"content":{"rendered":"<p>Investment firm Prosus announced on Monday that it has written off the value of its 9.6 per cent stake in troubled edtech company Byju\u2019s. The Naspers-owned investment firm cited a \u201csignificant decrease in value for equity investors\u201d as the reason for this decision. <\/p>\n<p>This development is indicative of Byju\u2019s severe financial struggles. The edtech firm has seen its valuation dramatically decline, with most financial investors now attributing a value close to zero to the company. <\/p>\n<p>\u201cA fair value loss of $493 million was recognised in other comprehensive income in the current year,\u201d Prosus said in a stock exchange filing in the Netherlands.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investment firm Prosus announced on Monday that it has written off the value of its 9.6 per cent stake in troubled edtech company Byju\u2019s. The Naspers-owned investment firm cited a \u201csignificant decrease in value for equity investors\u201d as the reason for this decision. This development is indicative of Byju\u2019s severe financial struggles. The edtech firm has seen its valuation dramatically decline, with most financial investors now attributing a value close to zero to the company. \u201cA fair value loss of $493 million was recognised in other comprehensive income in the current year,\u201d Prosus said in a stock exchange filing in [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9,34,4],"tags":[],"class_list":["post-825589","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-it-2-business-standard-newspapers","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/825589","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=825589"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/825589\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=825589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=825589"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=825589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}