MapMyIndia CEO Rohan Verma’s new venture is not getting funding from his old company after shareholders protest

MapMyIndia CEO Rohan Verma recently announced a change in plans for the company’s new business-to-consumer (B2C) venture. Instead of accepting the originally approved Rs 35 crore investment from MapMyIndia’s parent company, CE Info Systems, Verma decided to use his personal funds for the venture after considering the concerns of minority investors. Verma’s decision comes after investor concerns were raised during a call, particularly regarding the impact on minority shareholders following the company’s move to spin off the B2C business.