MuSigma founders Dhiraj Rajaram and Ambiga Dhiraj Rajaram have divorced. Dhiraj Rajaram had founded the company in 2004 and his wife Ambiga Dhiraj had been an integral part of its operations. She’s taken over the CEO role when Dhiraj had stepped aside earlier this year.
Ambiga and Rajaram met when they were classmates at Guindy engineering college, Anna University. They currently live in Bangalore with their son.
According to a report in The Economic Times the marriage has been on the rocks for the last six months and the investors of the company were apprised of the matter.
Dhiraj and Ambiga have however said that their divorce would not impact the working of the company. “Both Ambiga and I are very motivated to do the best for the company and we continue to be very passionate about Mu Sigma,” said Dhiraj Rajaram. “Our personal situation will not affect our commitment to the purpose of Mu Sigma,” said CEO Ambiga Dhiraj.
Dhiraj Rajaram has hinted that Ambiga might soon be replaced as CEO. He said that she “may not continue in the role of CEO” in the “long term” although “as of now, she will continue in the role.” After the divorce, there would be a clear demarcation of shares between Ambiga and Dhiraj as part of the ongoing settlement. However, their stakes in the company will remain the same, the report said.
MuSigma is one of the few unicorns in India and has a valuation of around $1.5 billion. Also, unlike other unicorns which are currently mired in losses, it is profitable, having made Rs. 380 crore in profit last year.