BYJU’S fair valuation has been projected at $5.98 Bn by Prosus
- ByStartupStory | November 24, 2022
According to a report by Netherlands-based investment group Prosus, BYJU’S is currently valued at $5.98 Bn. The valuation was done by Prosus in its half-yearly report. “The group accounts for its 9.67% effective interest in BYJU’S at fair value through other comprehensive income. The fair value of BYJU’S investment, subsequent to the loss of significant influence, is $578 Mn,” Prosus revealed in its report. After considering the fact that Prosus holds a 9.67% interest and made an investment of $578 it is clear that BYJU’S is currently valued at stands at $5.98 Bn.
During the month of October BYJU’S was valued at $22 Bn after going through a funding round of $250 Mn. After this valuation, the edtech giant became one of the most valuable startups in India. BYJU’S financial statements for the year ended March 31, 2021, have revealed that its revenue stood at INR 2,428.3 Cr ($297.31 Mn). If this figure is to be considered then the last round’s valuation is almost 74X the edtech’s revenue. As of now the fair valuation done by Prosus represents a 20.5X multiple of BYJU’S revenue in FY21.
Prosus’ report has also revealed that the edtech firm’s revenue has jumped by almost 90% in the first half of FY23.
“BYJU’S revenue grew by almost 90%, mainly off the back of these acquisitions and from enhanced offerings such as BYJU’S FutureSchool, which offers one-on-one learning for coding and maths for kids,” the investment firm noted. It was during this time that Prosus looked at BYJU’S accounts since after that they lost a significant amount of influence in the edtech giant when their stake got diluted to 9.67%. “We have stopped equity accounting for BYJU’S and Udemy from September 2022,” the investment firm said. The Institute of Chartered Accountants of India (ICAI) is also looking into BYJU’S finances to gain a deeper insight into the startup’s valuation.
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