Byjus Crisis Valuation cut by Macquarie Capital up to 98 per cent due to this reason

Edtech company Byju's is continuously facing troubles. The problems of the company which is facing financial problems are not showing any end. In the latest case, the company has suffered a major setback on the valuation front. A global analyst and investor has reduced the valuation of a startup company by 98 percent.

Made a big investment in the year 2021

Investment firm Macquarie Capital is writing down its investment in Byju's. According to a Bloomberg report, Macquarie Capital is reducing the value of its stake in Byju's by 98 percent. The company had invested hundreds of millions of dollars in Byju's in 2021. However, this cut in valuation has not been announced publicly yet.

Macquarie was being criticized

Macquarie Capital was facing criticism regarding its stake in Byju's. Swiss banking firm Julius Baer had accused it of not re-valuing its stake and charging clients based on the 2022 funding round. The Swiss bank had sent a letter in this regard to Macquarie Capital in January.

The value had become this much in 2022

In the funding round of 2022, the value of Byju's was estimated at $ 22 billion. However, since then the condition of Byju's has worsened. Now Byju's value has barely remained in the billion dollar club. Many investors and analysts have reduced the value of Byju's by 95 percent since then. Macquarie Capital has also now adopted the same path.

Dispute between investors and founder family

Byju's had once become the brightest star of the Indian startup world. Byju's also became India's most valuable startup company after a valuation of $22 billion in the 2022 funding round. However, now the situation is such that the company is struggling to even pay salaries to its employees. The tension between the company's founder Byju Raveendran and the investors is at its peak. Investors are adamant on ousting Byju Raveendran and his family members from the company. At present the matter has reached the threshold of the court.

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