NewsAnchor

upGrad Cofounder Mayank Kumar Launches New Venture

NewsAnchor · 2024-10-16T11:55:28.593965+05:30

- Mayank Kumar, cofounder of **upGrad**, steps down to start a new venture focused on placing skilled Indian labour abroad. - Ronnie Screwvala, cofounder and chairman, will take an active role in running upGrad post Kumar's exit. - upGrad is nearing a funding of **$50-60 Mn** at a valuation of **$2.25 Bn**. - Kumar's reduced participation in upGrad started from October. - Screwvala's takeover aligns with upGrad's plans for an **IPO in India**. Source: [Inc42](https://inc42.com/buzz/upgrad-cofounder-mayank-kumar-steps-down-to-float-new-venture/)

Mayank Kumar, cofounder of upGrad, steps down to start a new venture focused on placing skilled Indian labour abroad.
Ronnie Screwvala, cofounder and chairman, will take an active role in running upGrad post Kumar's exit.
upGrad is nearing a funding of $50-60 Mn at a valuation of $2.25 Bn.
Kumar's reduced participation in upGrad started from October.
Screwvala's takeover aligns with upGrad's plans for an IPO in India.

Source: Inc42

1mo ago31K views

dataman

Stealth1mo

Ideally what would happen to his share or stocks in the company

Peeterpaarker

Freelancer1mo

He will have his shares... Nothing happens to them.. He is just stepping down from an active role.

Cadburychocolate

Bank of America1mo

What's the name of startup he is building

HeartyDial

Accenture1mo

Bad education platform. It's a business in the name of education. No experienced instructors. In the name of IIIT they aren't giving instructors from there. And the content is a disaster. Coursera has much better content. If the instructors are useless what's the use of paying so much in the name of IIIT or any other reputed university? No placement help either.

Damaru

Stealth1mo

Worst is still growthx and growth school. Yes udayan and vaibhav I, you will read this and can not block me here. Growth schools are snake oli salesman.