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Indian-origin co-founder who sold his startup for nearly $1 billion says he has no income, is looking for internships
Vinay Hiremath, co-founder of Loom, sold his startup for nearly $1 billion and now seeks internships in engineering.
Vinay Hiremath, co-founder of Loom, is rich beyond most people’s wildest dreams. When he sold his startup to Atlassian for nearly $1 billion in 2023, Hiremath walked away with somewhere between $50 to 70 million. Now, the 33-year-old has no income and is looking for internships. During an appearance on the Moneywise podcast, the Indian-origin co-founder of Loom opened up about going from a “broke stoner’ to a millionaire and how he now spends his time and money.
Sam Parr, host of the Moneywise podcast, revealed that Hiremath also walked away from a $60 million retention bonus and does not regret it.
“Looking for internships”
During his appearance on the podcast, Hiremath refused to reveal the exact amount he made from selling his startup but confirmed it was between $30 to $100 million. This led Parr to conclude he made between $50 to $70 million in his exit.
The Indian-origin founder did say that he made a lot of money - enough for his kids, when he has them.
Hiremath was also offered a $60 million retention bonus that would have vested over four years. He turned it down.
“Well, I left 60 on the table. I have no income. Right now I'm looking for internships,” said the Illinois-born millionaire.
Hiremath went viral earlier this year for admitting in a blog post that he had more money than he knows what to do with. “After selling my company, I find myself in the totally un-relatable position of never having to work again,” he wrote.
So what is he doing with his time now? According to Parr, he is “studying physics 5-8 hours daily, hanging in Discord groups with 18-year-olds who think he's their peer… looking to intern as a mechanical engineer.”
He wants to land an internship at a robotics company.
“I've been like doing a bunch of physics. I am potentially, hopefully – knock on wood – interviewing at a few different startups here, like couple robotics companies to basically intern as a mechanical engineer,” Hiremath said on the podcast.
“And then I want to intern as an electrical engineer. I really don't know what I'm going to do with this,” he added.
(Also read: Who is Vinay Hiremath, Indian-origin co-founder who sold startup for $975 million?)
