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.
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