DigitalOcean announces new $500M stock repurchase plan

On February 14 , the Board of Directors approved an expansion of the Company’s share repurchase program designed to maximize value for DigitalOcean investors. The approval authorizes the Company to repurchase up to $500 million of stock during 2023, following the repurchase of $600 million of stock in 2022. Of the $500 million authorization, the Company is committed to purchasing at least $230 million in 2023 and may opportunistically purchase up to an additional $270 million during 2023.