There were lots of rumors going that unacademy IAS founder is selling stake. He is not selling his stake. I confirmed it. cc: RS, GM, HS
@anonymous127 : I work closely with a VC firm. This news is confirmed by folks from sequoia & westbridge capital.
He has already sold his stakes and has been asked to leave. December 31st is his last working day.
All his businesses have been taken away from him.
CG : Shut GraphyX : merger on the way.
CC : Sequoia, Sofbank, Westbridge
What does this mean?
There has been internal new circulation going on that the IAS Co-founder at Unacademy is finally leaving the organisation.
He already sold his stakes in the company worth 700Cr last year and was sticking around because of the face value...
I don't understand, the sector that makes sureshot money on small and medium scale is continuously failing on pan India scale.
A small IIT coaching in Patna with 2 centres generates profit in crores but these Byjus and Unacademy are not...
RS is in San Francisco with GM. In a meeting with Softbank and PeakXV leadership, RS has officially submitted his resignation to the board of directors.
He holds 3.5% equity at Unacademy. He will apparently be getting an exit of around ...
I was in a conversation with a VC and the news is RS from Unacademy has been given an exit via secondary share sale and Sumit Jain has been replaced as a partner.
RS will be taking an exit by the end of this year. This is confirmed new...
