Marquee investors have reportedly been pushing the CEO of the edtech company Byju Raveendran, to relinquish his founder control including his say over secondary transactions by investors. He seems to have withstood such pressures, for now.
When three prominent investors abruptly quit the board of directors at Byju’s, and then almost immediately, the auditor also backed out, it set the tongues wagging. Was this all part of a move to put pressure on founder Byju Raveendran to loosen his and his family’s iron grip on the ed-tech firm? That view has now been strengthened with investors reportedly asking him to give up his right of first refusal over any secondary transaction of Byju’s
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