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Vrishank
Startups/VC/tech • 1y
Oyo's Secret co-founder? We all know Ritesh Agarwal as the founder and the face of Oyo, but how many of you know that Oyo, in its initial days used to have a co-founder. When Ritesh was 18, and he was looking to raise funds for his startup, VentureNursery was ready to invest, but only on one condition: Ritesh must have a co-founder. Ritesh, then onboarded Manish Sinha, who had the experience of running Airbnb as the co-founder of Oyo and they raised 30 lakh successfully. Next year, Ritesh got selected for the thiel fellowship and when he came back, he asked Manish to sell his stakes to him (on the pretext that VentureNursey won't give the money until he sell his stakes). Manish sold his 10.15% stakes for just 28 lakh rupees. But here is the catch: Ritesh signed a term sheet with LSVP for another round of funding just 3 days before this and he didn't inform Manish about this funding round. 💀 Manish claims that Ritesh fraudulently forced him to sell his shares. What do you think
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