I used my income so he could focus on Zoho, now he says I own just 5% of it: Vembu’s wife
The world of technology and entrepreneurship is often filled with stories of innovative ideas, risk-taking, and perseverance. However, behind the scenes of many successful companies, there are often untold stories of sacrifice, dedication, and hard work from the families of the founders. One such story has recently come to light, involving Sridhar Vembu, the billionaire founder of Zoho, a cloud-based software company. Vembu’s wife, Pramila Srinivasan, has revealed that she used her income to support her husband’s vision for Zoho, allowing him to focus on building the company after he quit his job. However, in a shocking turn of events, Srinivasan has claimed that Vembu now says she owns only 5% of the company they built together.
The story of Zoho’s founding is one of humble beginnings and determination. Sridhar Vembu, an Indian entrepreneur, had a vision for a cloud-based software company that would provide innovative solutions to businesses around the world. After quitting his job, Vembu dedicated himself to building Zoho, and his wife, Pramila Srinivasan, supported him every step of the way. Srinivasan, who had a stable income at the time, used her earnings to support the family, allowing Vembu to focus on his entrepreneurial venture. This sacrifice was not unusual, as many families of entrepreneurs have to make similar sacrifices in order to support their loved ones’ business ventures.
However, what is unusual in this case is the claim made by Vembu that his wife owns only 5% of the company. This revelation came as a shock to Srinivasan, who had been led to believe that she had a much larger stake in the company. “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. This statement raises important questions about the ownership structure of Zoho and the role that Srinivasan played in the company’s founding and growth.
One of the most interesting aspects of this story is the role of Vembu’s sister, Radha, who is Zoho’s largest shareholder with a 47.8% stake. This has raised questions about the ownership structure of the company and how the shares are distributed among the Vembu family members. While it is not uncommon for family members to have significant stakes in private companies, the fact that Radha has such a large stake in Zoho has sparked curiosity about the company’s governance and decision-making processes.
The story of Sridhar Vembu and Pramila Srinivasan also highlights the importance of having clear agreements and understandings in place when it comes to business and financial matters. In many cases, entrepreneurs and their families may not have formal agreements or contracts in place, which can lead to disputes and misunderstandings down the line. This is particularly true in cases where one spouse is supporting the other’s business ventures, as was the case with Srinivasan and Vembu.
The case of Sridhar Vembu and Pramila Srinivasan also raises important questions about the rights of spouses in business and entrepreneurship. In many cases, spouses may play a crucial role in supporting their partner’s business ventures, but they may not always have a clear understanding of their rights and entitlements. This can lead to disputes and misunderstandings, particularly in cases where the business is successful and valuable.
In recent developments, a US court has ordered Sridhar Vembu to post a $1.7 billion bond in the divorce case, highlighting the complexity and high stakes involved in this dispute. The case is ongoing, and it will be interesting to see how it unfolds and what implications it may have for the ownership and governance of Zoho.
In conclusion, the story of Sridhar Vembu and Pramila Srinivasan is a complex and fascinating one that highlights the challenges and sacrifices that many families of entrepreneurs face. While the story of Zoho’s founding is one of innovation and perseverance, it also raises important questions about ownership, governance, and the rights of spouses in business and entrepreneurship. As the case continues to unfold, it will be interesting to see how the dispute is resolved and what implications it may have for the future of Zoho.
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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