New Delhi, Oct. 28 -- The era of startup founders listing their companies as 'professionally managed' while retaining de facto control is coming to a close. Lenskart co-founder and chief executive Peyush Bansal told Mint in a recent interview that he and his co-founders have been named 'promoters' as this will ensure they have skin in the game for longer.

Lenskart isn't alone. Urban Company, Ather and Bluestone are among the companies whose founders have transformed into promoters for their recent listings. This is a marked shift from the earlier trend of companies such as Paytm, Zomato, Swiggy, iXigo and Delhivery being listed as 'professionally managed', with no specific promoters.

What does the promoter tag mean, what is driving this...