OYO CEO makes unprecedented $1.5B share buyback

tech.economictimes.indiatimes.com

Following speculation, the news became official late Friday -- interesting timing -- as Ritesh Agarwal bought $1.5 billion in shares back using a Cayman-based special purpose vehicle. It's a unique situation that seems VCs like Lightspeed and Sequoia cash out huge amounts before a conventional liquidity event. Lightspeed has reportedly made 50X on around $20 million, while Sequoia' return is also said to be in the $500M bracket. But, how truly bizarre, a founder taking out huge amounts of debt to back by a portion of his company... of course you expect nothing conventional when SoftBank and its Vision Fund is involved.

A great take from The Ken -- not just shamelessly pumping my new employer but nobody has stepped back to truly analyse what is happening here link 🔒

Meanwhile, OYO also spent $30M on an acquisition that boosts its co-working play link

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