Vinay Hiremath, the Indian‑origin co‑founder of Loom, made headlines after the start‑up was sold to Atlassian for about $1 billion in 2023. Despite walking away with an estimated $50 to $70 million from the sale, the 33‑year‑old now has no steady income and is actively seeking internships.
In an appearance on the Moneywise podcast, Hiremath recounted his journey from a "broke stoner" to a multimillionaire and explained his decision to forgo a $60 million retention bonus. He mentioned that his earnings from Loom’s sale fell somewhere between $30 million and $100 million, though he did not disclose an exact figure.
“I left 60 on the table. I have no income. Right now, I am looking for internships,” Hiremath said.
In an X post, Sam revealed that Hiremath's interests now extend far beyond software and investment. He spends five to eight hours daily studying physics and engaging in online debates with young fans in forums where many are unaware of his entrepreneurial success.
His post‑exit financial strategy is also unconventional for a tech founder, with 50% of his net worth in cash, 30% in equities and 20% in bonds and other assets. Despite his fortune, his most expensive purchase since the sale has been an iPad, reflecting his focus on continuous learning and personal growth over lavish spending.
Founder’s Note
Earlier this year, Hiremath penned a blog opening up about the insecurities he has experienced since achieving immense wealth. He, along with the other co‑founders of Loom, had sold his start‑up to the Australian software company Atlassian for $975 million in 2023.
In his note, he talked about failing to find the motivation to work again, giving up the $60 million pay package, trying to be 'Elon Musk Phase', breaking up with his girlfriend, climbing mountains, working for DOGE, studying physics, and more.
He started by sharing his lack of motivation and how he does not have the same base desires driving him to make money or gain status as he had before he became rich. “After selling my company, I find myself in the un‑relatable position of never having to work again. Everything feels like a side quest, but not in an inspiring way,” Vinay wrote.
The Loom Story
The video messaging start‑up Loom was founded in 2015 by Vinay Hiremath, Shahed Khan and Joe Thomas in San Francisco, California. Loom is a technology company that provides video communication software for work.
It is a video messaging tool that helps you get your message across through instantly shareable videos. You can record your camera, microphone and desktop screen simultaneously, which is then instantly available to share through Loom's patented technology.
