Indian-origin co-founder ‘looking for internship’ after selling firm for $1 billion. Here’s why

Screen recording startup Loom's co-founder Vinay Hiremath, who sold his business to Atlassian for nearly $1 billion in 2023, is now looking for an internship. According to a post on the social media platform X, he now has no income after the exit from the startup.

Vinay Hiremath, in a “Moneywise” podcast with Sam Parr, said that he has “no income right now” and is “looking for internships”.

After he sold his company for $1 billion, Hiremath earned $50 million to $70 million from the deal. In the podcast, he discussed walking away from another $60 million, his identity crisis, and his current financial situation.

Vinay Hiremath turned down $60 million in retention bonuses, which were supposed to be vested over the next four years from 2023. If the co-founder had taken the deal, the payout would have lasted until 2027.

“Turned down $60M in retention bonuses that would've vested over 4 years,” said Parr in the social media post talking about Hiremath's move.

The co-founder also said that “the trees spoke to me” during his hike in the redwoods, which prompted his decision to stay or leave the firm. Soon after the sale, a post went viral on social media, citing Hiremath's identity crisis after the billion-dollar deal, gathering more than 1.5 million views, as per the platform X post.

Vinay Hiremath's monthly spending

When asked about his current monthly spending, Vinay Hiremath discussed his monthly spending for the New York City lifestyle, his allocations, and his “most-expensive” purchase after he exited the firm in 2023.

Hiremath said that he spends $25,000 monthly, which includes $12,000 on rental expenses in New York City (NYC). According to the social media post, the co-founder allocates 50 per cent to cash, 30 per cent of his money to equities, and 20 per cent of his investment in bonds and other asset classes.

According to the social media post, Vinay Hiremath's most expensive purchase after the billion-dollar deal was to buy an Apple iPad for himself.

Current lifestyle

According to Sam Parr's post on platform X, Vinay Hiremath is spending close to 5 to 8 hours studying Physics and hanging out in Discord, an online community platform for people.

Hiremath said that he spends time with 18-year-olds on Discord, calling them his peers as he seeks to intern as a mechanical engineer at this stage in his life.

“Can you imagine the founder of a billion-dollar company being your intern?” said Parr in his post.

Earlier, on his personal blog site, Hiremath addressed his problem in life: that after the billion-dollar deal, he is in an “un-relatable position” where he never has to work again.

“I am rich and have no idea what to do with my life,” according to the post on his personal blog site named vinay.sh.