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'This billionaire tech startup' saw the biggest fall in valuation globally in 2024

  • In 2024, Byju's, a troubled edtech giant, suffered the largest global valuation drop among startups, plummeting from over $22 billion to below $1 billion due to operational restructuring and rising losses.
  • Hurun Research Institute's Global Unicorn Index revealed a record 1,453 Unicorns worldwide, with the US leading at 703 and China at 340. India saw a slight dip in Unicorn numbers, down to 67.
  • Fintech, AI, blockchain, and new energy sectors showed rapid growth, while Indian founders notably spearheaded offshore Unicorn ventures, primarily in the US. Despite setbacks, such shifts remain integral to economies, noted Hurun Report chairman Rupert Hoogewerf.

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