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Co-founders Dalvir Suri and Mukund Jha have ceased to be directors, as have two executives from Reliance, which owns more than 25% in the startup.

NDTV and Network18 are now firmly loss-making—and show little urgency to fix the fundamentals.
Telecom and retail, which account for half the conglomerate’s revenue and most of its valuation, aren’t accelerating fast enough to justify their price tags.
Stories of great outcomes and easy funding kept the sector on its toes. The momentum is expected to continue going into 2026, but startups may need to rethink their strategy.