Ashneer Grover, BharatPe's embattled co-founder and managing director, resigned in an email sent to the company at midnight on March 1.
"I am being forced to bid adieu to a company, of which I am a founder," Ashneer said in the email. He maintained that the board will not find a single act of impropriety against him.
Ashneer's resignation comes after a two-month battle between the board headed by Rajnish Kumar, and the BharatPe Co-founder.
In a two-page email, Ashneer said, "Unfortunately, what has happened in the recent past seems to be a battle of egos being played to the gallery of the media under the charade of “good governance.”
He added, "The fundamental fact is that all of you, as investors, are so far removed from reality that you’ve forgotten what real businesses look like and have no appreciation for what it took to run this enterprise day in and day out."
Touching upon his middle-class background, and crediting IIT Delhi and IIM Ahmedabad with the best of what the Indian education system has to offer, Ashneer claimed to be a professional with an impeccable track record who has been instrumental in building two unicorn businesses — Grofers and BharatPe — from scratch.
Read more on BharatPe Co-founder Ashneer Grover’s resignation.
Editor’s Pick: Product Roadmap
In this week’s Product Roadmap, we feature Bengaluru-based car rental startup Zoomcar. In a conversation with YourStory, its co-founder and CEO, Greg Moran, talks about the startup’s use of technology and how it has evolved and grown. Read more.
Greg Moran
Startup Spotlight
Founded by Vaibhav Singh, Shashvat Tripathi, Chetan Anand, and Anurag Prasad in 2015, Delhi-based Visit Health allows corporate employees to manage their healthcare needs using their smartphones. Read more.
News & Updates
- Amit Agarwal, Country Head of Amazon India, has been assigned the additional role of leading emerging markets, effective from February 1. With this, Amit’s new designation will be Senior Vice President India and Emerging Markets at Amazon.
- Former Turkish Airlines Chairman Ilker Ayci declined the Tata Group's offer to be the Chief Executive Officer (CEO) and Managing Director of Air India as "some sections of the Indian media" have attempted to "colour" his appointment in an undesirable manner.
- Mumbai-based fintech startup Snapmint raised $9 million in its Series A round led by Prashasta Seth, CEO and CIO of Prudent Investment Managers. Snapmint plans to expand its network of merchants, launch a suite of innovative BNPL products, and power the purchases of over 450 million consumers in India.
Before you go, stay inspired with…
“Women have always have had astute business and leadership sense. They just need to start believing in themselves.”
— Dia Mirza, Actor, Philanthropist, and Investor
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