Skip to content

Prosus slams Byju’s after quitting board, says India’s top startup ‘regularly disregarded advice’ – TechCrunch

Prosus slams Byju’s after quitting board, says India’s top startup ‘regularly disregarded advice’ – TechCrunch

 

Prosus, one of the largest investors in Byju’s, expressed its disappointment in the edtech giant’s reporting and governance practices on Tuesday, a month after all the key investors quit the startup’s board. Prosus said in a scathing a statement on Tuesday that Byju’s reporting and governance structures “did not evolve sufficiently for a company of that scale,” and the Indian firm “disregarded advice and recommendations” from Prosus’ director despite repeated attempts.Prosus, the largest external investor in the Bengaluru-headquartered startup, said its director, Russell Dreisenstock, stepped down from Byju’s board after it became clear that “he was unable to fulfil his fiduciary… 

​ 

Read More 

Leave a Reply

Your email address will not be published. Required fields are marked *