How a $250 million VideoVerse acquisition collapsed into fraud and forged-document allegations
The $250 million sale of Indian clipping startup VideoVerse to sports publisher Minute Media has unraveled, with founder Vinayak Shrivastav now facing multiple lawsuits alleging fraud and forged documents. Minute Media terminated its contract with VideoVerse in May after discovering discrepancies.
In September 2025, Indian startup VideoVerse announced a $250 million acquisition by international sports publisher Minute Media, a deal celebrated as a major win for India's startup scene. VideoVerse built automated tools for turning long broadcasts into short social-media clips, with clients including the Indian Premier League, FIFA+ and Nippon TV.
Less than a year later, the deal has fallen apart. In May, Minute Media announced it was terminating its engagement with VideoVerse, noting the two companies had continued operating as separate legal entities even after the acquisition closed. A Minute Media representative told TechCrunch the decision followed the discovery of significant discrepancies in VideoVerse's representations.
Multiple lawsuits target the founder
Founder Vinayak Shrivastav is now named in several legal actions. Bluestone Capital, which invested in VideoVerse in 2023, is suing for fraud, alleging the startup violated investment terms and withheld acquisition proceeds. A separate creditor is seeking to recover $64 million from a loan Shrivastav took out shortly after the deal closed, claiming he used fraudulent merger documents to secure shareholder approval. VideoVerse's former COO alleges in another suit that Shrivastav forged his signature on loan and share-repurchase agreements to extract tens of millions of dollars from the company.
A loan that unraveled the scheme
In October, Shrivastav arranged a $55 million structured loan from investment firm Lingotto, reportedly to pay off an earlier creditor. Lingotto transferred $53 million, but later alleged that key supporting documents — including a signature attributed to Minute Media's CEO and screenshots of bank balances — were forged. When a scheduled $4 million payment failed to arrive in March, Lingotto called in the loan and discovered a long list of other parties still owed money by VideoVerse. A separate Bluestone Capital loan had also gone into settlement with overdue payments.
By the end of April, Shrivastav was out as CEO. Minute Media, Lingotto and Bluestone are now each pursuing claims in Delaware Chancery Court, while former COO Sabya Das has filed a separate complaint alleging secondary-sale fraud and a confidential loan. Shrivastav did not respond to requests for comment; his last known address is in Dubai.
