Business · Companies · 12 hrs ago
Revolut CEO says he removed venture capitalists from its board
Revolut cofounder and CEO Nik Storonsky says he removed venture capitalists from the board of the company.
He said the changes happened over several funding rounds, rather than all at once.
Storonsky described venture capitalists, or VCs, as potentially dangerous to scaleups' growth.
Revolut is the company whose board and growth he was discussing.
The comments highlight a disagreement over the role VCs play as young companies expand.
The available information does not say what happens next with Revolut's board.
Revolut cofounder and CEO Nik Storonsky said he gradually removed venture capitalists from the company’s board.
He said the changes took place over several funding rounds.
Storonsky described venture capitalists as potentially “dangerous” to the growth of scaleups.
- Who
- Nik Storonsky, Revolut’s cofounder and CEO.
- What
- He said he gradually removed venture capitalists from Revolut’s board.
- When
- Over the course of several funding rounds. The specific dates are not stated.
- Where
- Not stated.
- Why
- Storonsky said venture capitalists could be dangerous to a scaleup’s growth.
This story does not have two clearly opposing sides.
This story does not have a timeline yet.
- Company
- Revolut
- CEO
- Nik Storonsky
- Board change
- Venture capitalists were gradually removed over several funding rounds