Indian-Origin Co-Founder Who Sold His Startup For $1 Billion Is Looking For Internships
Loom co-founder Vinay Hiremath declined a $60 million retention bonus after selling his company for $1 billion.
Vinay Hiremath, the co-founder of Loom, is looking for internships. No, this is not a drill. In 2023, Hiremath made between $50 and $70 million when he sold his firm to Atlassian for around $1 billion. Not just that, he even refused to accept a “retention bonus worth $60 million." Yes, you read that right!
In a podcast with Sam Parr, Hiremath opened up about his decision to decline a $60 million retention bonus and his search for internships. Despite the chance to make much more, Hiremath took a startling turn of events.
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Sam Parr, in a note on X (formerly Twitter), revealed that in addition to software and investing, Hiremath currently has other interests. He blends into communities where many people are ignorant of his success as an entrepreneur by studying physics for five to eight hours every day and participating in online discussions with youthful enthusiasts. His post-exit financial approach is also out of the ordinary for a tech founder, since he has 20 per cent in bonds and other assets, 30 per cent in stocks, and half in cash.
An iPad has been his most costly buy. Right now, he spends his time in Discord groups with 18-year-olds. He is now looking for an internship as a mechanical engineer, changing his focus from software to tangible goods. His path demonstrates a willingness to reinvent himself outside of his startup success and go in a different engineering direction.
The co-founder of Loom sold his biz for ~$1B, made $50-70M personally, then walked away from an extra $60MHe has “no income right now" and is “looking for internships"…@vhmth has a wild post-exit story. we talked about it on Moneywise:
-Turned down $60M in retention… pic.twitter.com/uTdS5blabz
— Sam Parr (@thesamparr) March 25, 2025
The video was shared on X (formerly Twitter) on March 25, and it has collected over 1.6 million views so far. Several people questioned Vinay Hiremath’s financial decisions, with one asking why he was saving money by renting rather than buying a property entirely.
A user said, “Why is he renting when he could buy in cash and save the cash flow? This smells fishy."
Others questioned his assertion that he had no income, even though he had taken home $50 million and was spending $25,000 a month.
Another commented, “How does he have “no income" after getting $50m and spending $25k/month?"
“Wild story. Turning down $60M to chase purpose over paychecks is rare. Proof that success isn’t just about money—it’s about meaning," an individual wrote on X.
“Sounds like a man with true agency who is following his curiosity and doesn’t care what others think. I applaud it," another remarked.
Hiremath’s outlook on life after post-exit, however, was admired by many. His decision to look for internships and further his education was interpreted by some as evidence that material wealth isn’t everything. Despite his financial success, they commended his readiness to make a fresh start in a different industry.
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