Lightspeed and Sequoia bag $400-500 million profit from selling OYO shares

OYO's founder Agarwal aims to increase his stake in the company

Lightspeed and Sequoia bag $400-500 million profit from selling OYO shares | BEAMSTART News

- From our Sponsors -

Lightspeed Venture Partners and Sequoia Capital sold a portion of their shares in OYO back to its founder, Ritesh Agarwal — seeing $400-500 million profit collectively.

The Economic Times noted Lightspeed profited around $250 million from the sale, while Sequoia executives stacked about $150 million.

- Featured Sponsor -

In July, Agarwal announced his plan to raise his stake in the company from 10% to 30% by spending $2 billion into the company — at the moment Softbank holds the largest OYO share at 48%.

Agarwal founded the hotel startup OYO in 2013, which now holds dominance in India's hotel market and became the second-largest hotel chain in China — while aggressively expanding its hotel purchases across the US and Europe.

- From our Sponsors -

BEAMSTART is a Hub for Startup News, Business Networking, and Entrepreneurial Resources. Expand your network, discover new possibilities, and tap into a vast database of resources that can help you go further in your business and career.


Download the App

The app for business networking and startup resources. Be part of the global community of CEOs, Business Leaders, and Professionals. Download below to instantly form partnerships and discover opportunities:

PlayStore ButtonAppStore Button

© 2016 - 2021 BEAMSTART. All Rights Reserved (Legal).