News Formal

The founder of SoftBank-backed hotel startup Oyo is buying back shares in his company in a $1.5 billion deal

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 51%

United States News News

United States United States Latest News,United States United States Headlines

It is unusual for founders to buy shares back from their investors.

Indian hotel platform Oyo has confirmed that CEO and founder Ritesh Agarwal will raise his stake in his company as part of a $1.5 billion financing round. Agarwal is to acquire shares from Oyo's existing investors Lightspeed and Sequoia to increase his stake. The deal will see Agarwal inject $700 million in fresh capital into his company, with a further $800 million coming from existing backers. In total, Oyo will raise $1.5 billion in fresh capital.

Indian hotel platform Oyo has confirmed that CEO and founder Ritesh Agarwal will raise his stake in his company as part of a $1.5 billion financing round. Agarwal is to acquire shares from Oyo's existing investors Lightspeed and Sequoia to increase his stake. The deal will see Agarwal inject $700 million in fresh capital into his company, with a further $800 million coming from existing backers. In total, Oyo will raise $1.5 billion in fresh capital.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Fear Overtakes Greed in IPO Market After WeWork DebacleShares of newly public companies, earlier this year one of the hottest investments on Wall Street, are in a slump after investors soured on money-losing startups from Uber Technologies to WeWork. Fear over Greed? Yeah ... um ... no. Common sense prevailed over a shell game of a corporate structure at WeWork. No, it seems sanity may have returned to the market. Every business dreamed up by millennials should not automatically IPO. Remember these things called fundamentals? savelraqipeople
Source: WSJ - 🏆 98. / 63 Read more »

House passes bill aimed at giving Americans back their right to sue companiesOver 80% of the biggest companies in America have put legal clauses into the fine print of their customer agreements that bar you from suing them in federal court. But the House just passed a bill aimed at stopping this practice. MakeIt Eight in 10 ? MakeIt This should help the economy! MakeIt a a Copywriter needs coffee ☕️
Source: CNBC - 🏆 12. / 72 Read more »