Speaking at a virtual press conference, Raveendran said that the simultaneous exit of board members from Prosus, Peak XV Partners, and the Chan Zuckerberg Initiative followed soon after US lenders declared the company in default. This, he argued, was a major turning point, making it nearly impossible to secure new funding. Raveendran claimed the situation could have been mitigated had there been a planned transition or vote for reconstitution of the board
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