Founder’s Shares Purchase Sends India’s OYO’s Valuation To $10B

Indian hospitality business OYO now has a valuation of $10 billion after its founder, Ritesh Agarwal, purchased $2 billion in shares from Sequoia Capital and Lightspeed Venture Partners. The 25-year-old founder completed the transaction via a Cayman Islands company called RA Hospitality Holdings, and was financed by institutional banks and finance partners. The move increased his 10 percent stake to 30 percent. SoftBank also increased its ownership from 45 percent to 48 percent.
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