Home Lack of transparency prompted board exit: Peak XV

Lack of transparency prompted board exit: Peak XV

The investor, which is the second-biggest institutional shareholder in Byju’s, told LPs that Ravishankar’s move to step down from Byju’s board was due to lack of transperancy in providing business updates and information to investors, the people said, requesting anonymity.
On June 24, Russel Dreisenstock of Prosus, along with two other investor board members-Ravishankar of Peak XV Partners and Vivian Wu of Chan Zuckerberg Initiative, had stepped down from Byju’s board.