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Manish Maheshwari, former Twitter India head, leaves new startup | #1 Technology News Source by Kalen2utech
Published On: Sat, May 28th, 2022

Manish Maheshwari, former Twitter India head, leaves new startup

Manish Maheshwari, a former conduct of Twitter India, is withdrawal a startup he co-founded only 6 months ago following disagreements with co-founder and investors.

“I am relocating out of Invact to initial take a mangle for a few months and afterwards pursue new opportunities. It is distressing for a owner to leave a startup, like a mom withdrawal her baby. we am going by a same emotion,” Maheshwari, who served as a startup’s arch executive and handling director, wrote in a tweet.

Maheshwari left Twitter late final year to start Invact Metaversity with Tanay Pratap, a former Microsoft employee, TechCrunch initial reported. The startup, that has lifted $5 million to date, seeks to launch a metaverse where cohorts of students could take classes. But a startup has so distant struggled to boat a product as a dual founders sealed horns and disagreed on a vision, according to a extraordinary email Pratap sent to a investors progressing this month.

Maheshwari, who owned some-more equity of a startup than Tanay, according to a chairman informed with a matter, insincere broader control over a startup’s direction.

“We are now station during crossroads exploring possibilities such as (a) slicing a bake rate and pivoting to another idea, (b) vouchsafing one of a founders take full charge, or (c) returning a unspent collateral to investors,” Maheshwari tweeted progressing this week following media reports of a tragedy between a dual founders.

Things unexpected became some-more difficult after Gergely Orosz, an early devotee of Invact, publicly called out Maheshwari for allegedly not listening to any investor, reneging on exit agreements and holding a startup “hostage.”

“Manish has been bullying Tanay into silence, melancholy to use a association supports of $1.7M – including a angel investment income – to sue him, should Tanay pronounce ill of him in public,” Orosz wrote to investors this week in an email, reviewed by TechCrunch.

“This pennyless a straw with me, as that includes my money: that we never invested to be used as an instrument of a cofounder bullying a other one. Manish keeps walking behind on promises he done to named investors, afterwards violation them. Names investors were assembly a terms he put adult to accept a exit allotment so a association can continue operating. He afterwards walks behind on these terms. He has been doing this for weeks,” he wrote.

Invact lifted a $5 million turn progressing this year from Arkam Ventures, Antler India, Picus Capital, 2am VC and dozens of angel investors during a gratefulness of $33.5 million. It was putting together a new turn during a $100 million valuation, according to a source informed with a matter. Later it explored sale of a business, though could not find a buyer.

“The preference to partial ways was not an easy one, though ultimately, Manish and Tanay had diverging visions for a company’s long-term prospects. Invact will continue and underneath care of Tanay will pursue a prophesy to make peculiarity preparation permitted around Metaversity,” a startup pronounced in a matter today.

In his Twitter thread today, Maheshwari described Tanay as “brother.”

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