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 entrepreneurship is often filled with stories of sacrifice and dedication. For Pramila Srinivasan, the wife of billionaire Sridhar Vembu, that sacrifice was very personal. In a shocking revelation, Srinivasan has come forward to share her side of the story in the ongoing divorce case between her and Vembu, the founder of Zoho Corporation. According to Srinivasan, she used her own income to support Vembu as he quit his job to build Zoho, only to be told years later that she owns just 5% of the company.
The story begins in the early days of Zoho, when Vembu had just quit his job to pursue his entrepreneurial dream. Srinivasan, who was working at the time, used her income to support the family, allowing Vembu to focus on building his company. This was a deliberate decision, made with the understanding that Vembu’s venture would eventually become a success and provide for their family’s financial future.
As the years went by, Zoho began to gain traction, and the company’s growth was nothing short of phenomenal. Today, Zoho is a leading provider of cloud-based business solutions, with a valuation of over $10 billion. However, despite being an integral part of the company’s early days, Srinivasan was shocked to learn that her contribution was not recognized in the way she had expected.
It was only when Vembu filed for divorce that Srinivasan discovered the true extent of her ownership in Zoho. According to court documents, Vembu claimed that Srinivasan owned just 5% of the company, a figure that has left her feeling betrayed and undervalued. This revelation has raised questions about the ownership structure of Zoho, with Vembu’s sister Radha emerging as the largest shareholder, holding a 47.8% stake in the company.
The disparity in ownership has sparked a heated debate, with many questioning how Srinivasan’s contributions to the company’s early success could be so grossly undervalued. Srinivasan’s decision to use her income to support Vembu’s entrepreneurial venture was a selfless act, one that allowed him to focus on building Zoho without the burden of a steady income. It is only fair to expect that her contribution would be recognized and valued accordingly.
The court case has also brought to light the issue of valuing intangible contributions in a marriage. In many cases, the non-financial contributions of a spouse, such as childcare or household management, are often overlooked when it comes to dividing assets in a divorce. Srinivasan’s situation highlights the need for a more nuanced approach to valuing contributions, one that recognizes the various ways in which a spouse can support their partner’s career and entrepreneurial ventures.
As the divorce case continues to unfold, Srinivasan’s story serves as a reminder of the importance of transparency and fairness in business and personal relationships. It is a stark reminder that even in the most successful of companies, the contributions of all stakeholders, including spouses and family members, must be recognized and valued.
In recent developments, a US court has ordered Sridhar Vembu to post a $1.7 billion bond in the divorce case, a move that is seen as a significant development in the ongoing proceedings. The case is being closely watched, not just for its implications on the ownership structure of Zoho, but also for the broader implications it has on the way we value contributions in personal and professional relationships.
As we await the outcome of the case, one thing is clear: Pramila Srinivasan’s story is a powerful reminder of the importance of recognizing and valuing the contributions of all stakeholders, including spouses and family members. It is a story that highlights the need for transparency, fairness, and equity in all aspects of life, whether personal or professional.
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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