India-and US-based data analytics company Mu Sigma Inc's founder and chairman Dhiraj Rajaram and wife Ambiga, who is the CEO, have divorced, a move that has raised concerns over the future management of the company, media reports said.
However, the duo said in separate conversations with The Economic Times that the move is unlikely to have any impact on the running of the company, which is one of the unicorn startups (a startup valued at over $1 billion) in the country.
"As of now, there are no changes to the management of the company. Both Ambiga and I are very motivated to do the best for the company,” Rajaram told the paper.
An emailed query to Mu Sigma seeking further information on the development did not elicit any response by the time of filing this article.
Rajaram told the paper that Ambiga will continue in the current role as of now, but may not remain the CEO in the long term. The estranged couple – both US citizens – hold about 48% of the company together, while the rest is owned by investors such as Sequoia Capital, MasterCard and Fidelity, among others.
Rajaram founded Mu Sigma in 2004. Ambiga succeeded him as CEO in February this year. She has been working with Mu Sigma for about eight years and is the first woman CEO at an Indian unicorn.
Rajaram also said that Sequoia is willing to stay invested in Mu Sigma, which has raised nearly $200 million in funding, while General Atlantic may look at an exit. “As for other private equity investors such as General Atlantic, they typically look for exits after 5-6 years. So, there's a good chance that they may exit over the next 1-2 years. And we can manage their exit through our current cash balance," he told the paper.
Mu Sigma helps companies institutionalize data-driven decision making and harness Big Data. It claims to have about 3,500 decision science professionals and almost 140 Fortune 500 clients. Mu Sigma is one of a handful of Indian unicorns. Flipkart, Snapdeal, Ola, One97 Communications, InMobi and Zomato are the other known unicorns from India.
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