OYO Founder to buy back $2 billion worth stake in the startup

OYO Founder Ritesh Agarwal has agreed to invest $2 billion to increase his stake in the SoftBank-backed hospitality startup. Current investors Lightspeed Venture Partners and Sequoia India are selling portions of their holdings to help the 25-year-old CEO increase his stake, the company said. The deal will raise Agarwal's stake in OYO to 30% from about 10% now, reports said.