Roadstar. AI InvestorsStatement: Against Co-founder Zhou Guangs dismissal

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 Roadstar. AI InvestorsStatement: Against Co-founder Zhou Guangs dismissal


[Netease Intelligence News Jan. 21] This morning, Roadstar. AI (Chinese name: Shenzhen Xingxing Technology Co., Ltd.) announced the dismissal of co-founder and chief scientist Zhou Guang from all positions in the company. Now the plot has changed, citing the news from Reddy. com, all the investors of Roadstar. AI issued a statement against the dismissal of co-founder Zhou Guang.

According to the announcement of Roadstar.ai Wechat Public Number, Roadstar.ai claimed that Zhou Guangs private code base kept drawings and deliberately falsified data in a government regulatory report, which was found by third-party organizations to have a serious impact on the reputation of the company. There was a phenomenon of fraudulent public and private benefits. He used his classmates to receive rebates in round A financing.

Statements from all investors indicate that the decision to remove Zhou Guangs post did not receive the consent of investors and procedurally violated the relevant agreements with investors, so the decision did not take effect from the beginning.

Data show that in 2017, Roadstar. AI received tens of millions of dollars in Angel round financing led by Yunqi Capital. In May 2018, Roadstar. AI received a $128 million round of financing led by Shuanghu Capital and Shenzhen Venture Capital Group, veteran shareholder Yunqi Capital, as well as capital follow-up investment of Zhaoyin International and Yuanjing. (Dingxi)

Figure: Screenshot of Roadstar. AI Public Notice

The following is Roadstars statement by all investors:

Statement on the appointment and dismissal of Star Technological Employees

January 21, 2019

With regard to the appointment and removal decision of Zhou Guang issued by Star Technologies Wechat Public on the morning of January 21, 2019, all investors and shareholders of Star Technologies jointly issued the following statement:

Firstly, the shareholders of the companys investors believe that the removal of Zhou Guangs post is detrimental to the core interests of the company and shareholders, and the shareholders of the investors do not approve of the removal of Zhou Guangs post.

2. The decision to remove Zhou Guangs post did not obtain the consent of investors, and procedurally violated the relevant agreements with investors. Therefore, the decision did not take effect from the beginning.

3. Suggest that team members communicate fully, eliminate differences and concentrate on the development of the companys business.

All Investors of Star Technologies

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Source: Netease Intelligent Responsible Editor: Ding Guangsheng_NT1941