Invact Metaversity CEO Maheshwari steps down, will explore other avenues

The company has been in news as both the founders, Maheshwari and Tanay Pratap, had differences on how to run the firm

It is finally done. Manish Maheshwari, CEO and director of Invact Metaversity has stepped down. The company has been in news as both the founders, Maheshwari and Tanay Pratap, had differences on how to run the company.

The company made the announcement of Maheshwari stepping down in a tweet: “Over the last few days, we have been in the news, more than we have ever been! So here is the official update. Manish Maheshwari has stepped down from his position as Chief Executive Officer and Director of Invact, Inc. as of May 27, 2022.”

The tweet from the company also said: The decision to part ways was not an easy one, but ultimately, @manishm and @tanaypratap had diverging visions for the company's long-term prospects.  Invact will continue and under leadership of Tanay will pursue its vision to make quality education accessible via Metaversity.”

Post the tweet from the company’s official handle, both the founders took to Twitter to share their stand.

Maheshwari, former Twitter India head in a tweet said: “I am moving out of Invact to first take a break for a few months and then pursue new opportunities. It is heartbreaking for a founder to leave the startup, like a mother leaving her baby. I am going through the same emotion.”

“We both are passionate and uncompromising about what we believe in, as founders usually are. While we are parting ways, we have fond memories of working together not just as colleagues, but also as brothers,” he further tweeted.

Pratap in a tweet said: “Changes are often heartbreaking but sometimes necessary. We started together, built together, and celebrated together. Invact will continue to build on its vision of accessible quality education for all. Wishing Manish all the best for the future. Goodbyes are always hard.”

The difference between the founders came to the fore when Invact’s angel investor Gergely Orosz publicly raised concerns on the conflict between the founders. On Maheshwari’s stepping down from his role, Orosz said: “With a startup, focusing on the future is more important than dwelling on the past. I keep being a proud investor and supporter of @invactHQ, of @tanaypratap and the whole team. I believe that the next big thing in EdTech might just come from India.”

According to reports, Orosoz in a letter to shareholders wrote that Maheshwari wanted more equity than vested. Both the founders have had differences over the vision and execution of the startup.