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. From humble beginnings to building a successful software company, Vembu’s journey is an inspiration to many. However, a recent revelation has thrown a shadow on his personal life, with his wife, Pramila Srinivasan, coming forward with a shocking claim. According to Srinivasan, she used her income to support Vembu while he was building Zoho, only to be told later that she owns just 5% of the company.
The story begins in the 1990s when Vembu quit his job to pursue his entrepreneurial dreams. Srinivasan, who was working at the time, used her income to support the family, allowing Vembu to focus on building Zoho. “I was the sole breadwinner of the family, and I used my income to support Sridhar while he was building Zoho,” Srinivasan said in a recent interview. “I felt proud to be a part of his journey, and I never thought that my contributions would be undervalued.”
However, things took a turn for the worse when Vembu filed for divorce. It was then that Srinivasan discovered that Vembu claimed to own just 5% of Zoho, with his sister Radha being the largest shareholder with a 47.8% stake. “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. “I couldn’t understand why he would say such a thing, especially after all the sacrifices I had made for him and our family.”
The revelation has raised questions about the ownership structure of Zoho and the role of Vembu’s family members in the company. While Vembu is the public face of Zoho, his sister Radha is the largest shareholder, with a significant stake in the company. This has led to speculation about the distribution of wealth within the family and the extent to which Vembu’s personal life has influenced the company’s governance.
The case has also sparked a debate about the rights of spouses in entrepreneurial ventures. Srinivasan’s claim that she used her income to support Vembu while he was building Zoho raises questions about the extent to which she should be recognized as a contributor to the company’s success. “As a spouse, I had a significant role in supporting Sridhar’s entrepreneurial journey,” Srinivasan said. “I believe that my contributions should be recognized, and I should have a fair share of the company’s ownership.”
The case is currently ongoing in a US court, with Vembu being ordered to post a $17 billion bond in the divorce case. The court’s decision will have significant implications for the ownership structure of Zoho and the distribution of wealth within the Vembu family. As the case unfolds, it will be interesting to see how the court navigates the complex issues of ownership, governance, and spousal contributions in entrepreneurial ventures.
In the meantime, Srinivasan’s story serves as a reminder of the importance of recognizing the contributions of all parties involved in entrepreneurial ventures. As the startup ecosystem continues to grow, it is essential to ensure that the rights of all stakeholders, including spouses and family members, are protected and recognized. The case of Sridhar Vembu and Pramila Srinivasan is a stark reminder that the line between personal and professional life can often be blurred, and it is crucial to establish clear boundaries and recognition of contributions to avoid disputes and ensure fairness.
In conclusion, the story of Sridhar Vembu and Pramila Srinivasan is a complex one, with significant implications for the ownership structure of Zoho and the distribution of wealth within the Vembu family. As the case continues to unfold, it will be interesting to see how the court navigates the complex issues involved. One thing is certain, however – the story of Sridhar Vembu and Pramila Srinivasan will serve as a reminder of the importance of recognizing the contributions of all parties involved in entrepreneurial ventures and the need to establish clear boundaries and recognition of contributions to avoid disputes and ensure fairness.
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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