I used my income so he could focus on Zoho, now he says I own just 5% of it: Vembu’s wife
The story of Sridhar Vembu, the billionaire founder of Zoho, is one of rags-to-riches success. However, a recent court case has shed light on a more complex and contentious aspect of his life: his divorce proceedings. Vembu’s wife, Pramila Srinivasan, has come forward with allegations that her husband has undervalued her contributions to the company, claiming that she owns only 5% of Zoho. This is despite her claims that she used her own income to support Vembu as he built the company from the ground up.
According to Srinivasan, she and Vembu were married when he quit his job to pursue his entrepreneurial dreams. At the time, she was the primary breadwinner, and she used her income to support Vembu as he worked tirelessly to build Zoho. “I felt shocked to learn only after he filed for divorce that he claimed to own just 5% of the company he’d spent our marriage building,” Srinivasan said in a statement. This revelation has sparked a heated dispute over the ownership and valuation of Zoho, with Srinivasan arguing that she is entitled to a much larger share of the company.
The court case has also revealed that Vembu’s sister, Radha, is the largest shareholder of Zoho, with a 47.8% stake in the company. This has raised questions about the ownership structure of Zoho and how it has been managed over the years. Srinivasan’s allegations suggest that Vembu may have undervalued her contributions to the company, and that she may be entitled to a larger share of the profits.
The dispute over Zoho’s ownership is not just a matter of personal interest; it also has significant implications for the company’s future. As one of the largest and most successful software companies in the world, Zoho’s ownership structure and management team are crucial to its continued success. The fact that Vembu’s sister is the largest shareholder has raised questions about the company’s governance and whether it is being run in a fair and transparent manner.
The court case has also highlighted the importance of valuing the contributions of all stakeholders in a company, including spouses and family members. Srinivasan’s allegations suggest that she played a crucial role in supporting Vembu as he built Zoho, and that her contributions should be recognized and rewarded. This is a timely reminder that the success of a company is often the result of a team effort, and that all stakeholders should be treated fairly and with respect.
As the court case continues, it will be interesting to see how the dispute over Zoho’s ownership is resolved. Will Srinivasan be able to prove that she is entitled to a larger share of the company, or will Vembu’s claims that she owns only 5% be upheld? The outcome of the case will have significant implications not just for the parties involved, but also for the future of Zoho and its stakeholders.
In a recent development, a US court has ordered Sridhar Vembu to post a $1.7 billion bond in the divorce case. This is a significant development, and it suggests that the court is taking Srinivasan’s allegations seriously. The bond is intended to ensure that Vembu does not dissipate or transfer assets during the pendency of the divorce proceedings.
As the case continues to unfold, it will be important to watch for further developments and updates. The story of Sridhar Vembu and Zoho is a complex and fascinating one, and it highlights the challenges and complexities of building and managing a successful company. It also serves as a reminder of the importance of fairness, transparency, and respect in all aspects of business and personal life.
In conclusion, the dispute over Zoho’s ownership is a complex and contentious issue that has significant implications for the company and its stakeholders. Srinivasan’s allegations that she used her income to support Vembu as he built Zoho, only to be told that she owns only 5% of the company, have sparked a heated debate about the valuation and ownership of the company. As the court case continues, it will be important to watch for further developments and updates. One thing is certain, however: the story of Sridhar Vembu and Zoho is a fascinating and complex one that will continue to captivate audiences for years to come.
News source: https://www.thenewsminute.com/news/exclusive-us-court-orders-sridhar-vembu-to-post-17-billion-bond-in-divorce-case
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