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, this sacrifice was not just emotional, but also financial. In a shocking revelation, Srinivasan has come forward to claim that she used her own income to support her husband as he built Zoho, a successful software company, from the ground up. However, in a stunning turn of events, Vembu has now claimed that his wife owns only 5% of the company, leaving Srinivasan feeling shocked and betrayed.
According to Srinivasan, she was the primary breadwinner in the family when Vembu quit his job to pursue his entrepreneurial dreams. “I was working and earning a steady income, while Sridhar was trying to build Zoho from scratch,” she said. “I used my income to support him, so that he could focus on building the company without any financial stress.” This sacrifice was not just limited to financial support; Srinivasan also claims that she played an active role in helping Vembu build the company, often taking care of household chores and raising their children, so that he could focus on his work.
However, in a dramatic twist, Vembu has now claimed that his wife owns only 5% of Zoho, despite her significant contributions to the company’s growth. This revelation came to light only after Vembu filed for divorce, leaving Srinivasan feeling shocked and disappointed. “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 had no idea that my contributions to the company were being undervalued and undermined in such a way.”
The news of Vembu’s claim has sent shockwaves through the business community, with many questioning the ethics of his actions. Zoho, which was founded in 1996, has grown into a successful software company with a valuation of over $1 billion. The company’s success can be attributed to the hard work and dedication of its founders, including Vembu and his sister, Radha. However, the fact that Radha is the largest shareholder of Zoho, with a 47.8% stake, has raised eyebrows. Many are now wondering whether Vembu’s claim of owning only 5% of the company is a ploy to reduce his wife’s stake in the company.
The dispute between Vembu and his wife has now reached the courts, with a US court ordering Vembu to post a $1.7 billion bond in their divorce case. The court’s decision is seen as a significant victory for Srinivasan, who is fighting to protect her rights as a co-founder of Zoho. The case is expected to be closely watched by the business community, as it raises important questions about the rights of spouses in entrepreneurial ventures.
The story of Srinivasan and Vembu serves as a reminder of the importance of protecting one’s rights in business and personal relationships. It highlights the need for clear communication, transparency, and mutual respect in all relationships, whether personal or professional. As the case continues to unfold, it will be interesting to see how the court’s decision will impact the future of Zoho and its founders.
In conclusion, the story of Pramila Srinivasan and Sridhar Vembu is a cautionary tale about the importance of protecting one’s rights and interests in business and personal relationships. It highlights the need for clear communication, transparency, and mutual respect in all relationships, whether personal or professional. As the case continues to unfold, it will be interesting to see how the court’s decision will impact the future of Zoho and its founders.
Read the full story here:
https://www.thenewsminute.com/news/exclusive-us-court-orders-sridhar-vembu-to-post-17-billion-bond-in-divorce-case
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