Former Deloitte India Chairman PR Ramesh Takes New Role at VerSe Innovation
Former chairman of Deloitte India, PR Ramesh has now joined the board of VerSe Innovation. The company has appointed him as an independent director.
New Delhi: Former chairman of Deloitte India, PR Ramesh has now joined the board of VerSe Innovation. The company has appointed him as an independent director. This company runs platforms like Dailyhunt and Josh. In recent times, the company has been working on expanding its business rapidly.
What is PR Ramesh's experience?
PR Ramesh has been associated with Deloitte India for a long time. He has also been the chairman there. His experience in the field of audit and corporate governance is considered quite old. He has also served on the boards of many companies.
What will be his role in the company?
PR Ramesh has been made an independent director. Besides, he is also said to have a role in audit related work. He will work as an advisor in the company's decisions.
Why is this appointment considered important?
VerSe Innovation is currently in the expansion phase. At such a time, it is considered necessary for the company to bring experienced people on board. This brings balance in governance and decisions.
What does VerSe Innovation do?
This VerSe Innovation works in the field of digital content. Dailyhunt is its news platform, while Josh is a short video app. Both the platforms are working with large user base in India.
What is the company's focus going forward?
The company is focusing on local language content and technology. Special emphasis is being laid on AI related work. There are plans to expand in this direction in the coming time.
Are other companies taking such steps?
In recent times, many tech companies have been adding experienced people to their boards. Its objective is to take better decisions and maintain the confidence of investors.
How big a company is VerSe?
Bengaluru-based VerSe Innovation has so far raised funding of more than two billion dollars. The company had raised $805 million in a funding round led by CPPIB in 2022 and at that time its valuation was estimated at around $5 billion. Big names like Canada Pension Plan Investment Board, Ontario Teachers' Pension Fund, James Murdoch's Lupa Systems and Z47 are among its investors.
