OYO announces $ 1 billion fund raise for expansion; plans to scale business China, Malaysia and Nepal
6 years, 3 months ago

OYO announces $ 1 billion fund raise for expansion; plans to scale business China, Malaysia and Nepal

Firstpost  

The company has already raised $800 million, and has further commitment of $200 million, OYO said Hospitality firm OYO Tuesday announced a capital raise of $1 billion in a fresh round of funding led by SoftBank Investment Advisers through SoftBank Vision Fund for further expansion. “With this additional funding, we plan to rapidly scale our business in these countries, while continuing to invest further in technology and talent,” OYO Founder & CEO Ritesh Agarwal said. At OYO, 700 technology experts and engineers have developed over 20 in-house products helping 10,000 plus asset partners globally and making them better hospitality players, Agarwal said last week. “With another 2,020 experts joining us by 2020, we will continue to invest in technologies like artificial intelligence, machine learning, and IoT, that will make curated guest experiences at every price point a reality, while ensuring sustainable incomes for partners and livelihood opportunities for several Indians,” he added.

Million Oyo  round  softbank  raised  company  business  plans  million  oyo  funding  experts  raise  partners  malaysia  scale  fund  expansion  nepal  technology  china

History of this topic

Oyo founder Ritesh Agarwal invests Rs 830 crore in funding round, valuation drops to $2.4 billion
5 months ago

Oyo founder Ritesh Agarwal invests Rs 830 crore in funding round, valuation drops to $2.4 billion

New Indian Express  

BENGALURU: Hospitality chain Oyo's founder Ritesh Agarwal has invested Rs 830 crore in the company's latest funding round through Singapore-based entity Patient Capital. The first tranche of funding of Rs 416.85 crore was led by Incred Wealth in July 2024. An additional fund raise of Rs 1047 crore was approved by shareholders of the company on August 8 in an …

OYO raises ₹1,457 crore in latest funding round for growth and global expansion
5 months ago

OYO raises ₹1,457 crore in latest funding round for growth and global expansion

Hindustan Times  

Oravel Stays Ltd, the parent company of OYO, has raised ₹1,457 crore from a consortium of investors in the latest funding round, sources said. OYO has raised ₹ 1,457 crore from a consortium of investors in the latest funding round The IPO-bound unicorn has raised nearly ₹1,040 crore in the Series G funding round. The investment is being made through …

OYO to cut 10% employee base, to let go 600 from tech and hire 250 in sales
2 years, 1 month ago

OYO to cut 10% employee base, to let go 600 from tech and hire 250 in sales

Hindustan Times  

IPO-bound travel tech firm OYO on Saturday announced it will downsize about 10 per cent of its 3,700-employee base by cutting 600 jobs in the technology and corporate verticals and hiring 250 members, primarily in the relationship management teams. It is downsizing its product & engineering, corporate headquarters, and OYO Vacation Homes teams, while it adds people to the partner …

OYO To Downsize 3,700-Employee Base, Cut 600 Jobs
2 years, 1 month ago

OYO To Downsize 3,700-Employee Base, Cut 600 Jobs

ABP News  

IPO-bound travel tech firm OYO on Saturday announced it will downsize about 10 per cent of its 3,700-employee base by cutting 600 jobs in the technology and corporate verticals and hiring 250 members, primarily in the relationship management teams. It is downsizing its product & engineering, corporate headquarters, and OYO Vacation Homes teams, while it adds people to the partner …

OYO Founder Ritesh Agarwal Shares Investment Lessons he Learned in 2021; See Here
3 years ago

OYO Founder Ritesh Agarwal Shares Investment Lessons he Learned in 2021; See Here

News 18  

Oyo Rooms founder Ritesh Agarwal has shared some key learnings from the past year. He said the past year also taught him the fact that it is not about finding the right idea as much as it’s about identifying the right problems and working towards creating solutions. Oyo plans to raise Rs 8,430 crore through the listing and will be …

SoftBank-backed Oyo files draft papers for $1.14 billion IPO
3 years, 3 months ago

SoftBank-backed Oyo files draft papers for $1.14 billion IPO

Hindustan Times  

SoftBank-backed Indian hotel aggregator Oyo filed for a $1.14 billion initial public offering on Friday, becoming the first hospitality company in the country to seek a domestic stock listing since 2019. According to Oyo's draft herring prospectus, the offer for sale comprises equity shares aggregating up to 13.29 billion rupees by SVF India Holdings, a firm incorporated in Cayman Islands …

Microsoft, OYO join hands to digitally transform travel industry
3 years, 4 months ago

Microsoft, OYO join hands to digitally transform travel industry

India TV News  

Microsoft and travel technology platform OYO on Thursday announced that they have entered a multi-year strategic alliance to co-develop next generation travel and hospitality products and technologies. OYO will adopt Microsoft Azure as a key enabler to drive cloud-based innovations and reimagine the hospitality and travel tech industry. "Combining the power of Azure with the tech and product stack developed …

Microsoft in advanced talks to invest in OYO: Report
3 years, 5 months ago

Microsoft in advanced talks to invest in OYO: Report

India TV News  

Satya Nadella-run Microsoft is in advanced talks to invest in Airbnb-backed Indian budget hotel chain OYO at a valuation of $9 billion, the media reported on Friday. "We are delighted by the response to OYO's maiden TLB capital raise that was oversubscribed by leading global institutional investors. We are thankful for the trust that they have placed in OYO's mission …

OYO raises $660 million via debt funding from investors
3 years, 5 months ago

OYO raises $660 million via debt funding from investors

Hindustan Times  

Hospitality unicorn OYO Hotels and Homes Ltd on Friday said that it raised debt funding worth $660 million from global institutional investors, including Fidelity Investments. OYO will use these funds to retire its past debts, strengthen the balance sheet and leverage the funds for other business purposes, including investment in product technology. “We are delighted by the response to OYO’s …

OYO raises $660 mn debt from investors
3 years, 5 months ago

OYO raises $660 mn debt from investors

Live Mint  

Bengaluru: Hospitality unicorn OYO Hotels and Homes Ltd on Friday said that it raised debt funding worth $660 million from global institutional investors, including Fidelity Investments. “We are delighted by the response to OYO’s maiden TLB capital raise that was oversubscribed by leading global institutional investors. “It’s heartening for me to see the strong interest from the investor community in …

Oyo has $1 billion to fund operations until IPO, CEO Ritesh Agarwal tells employees
4 years, 1 month ago

Oyo has $1 billion to fund operations until IPO, CEO Ritesh Agarwal tells employees

Live Mint  

Ritesh Agarwal, founder and chief executive officer of Oyo Hotels, told employees the Indian startup is making progress in recovering from the coronavirus fallout and has about $1 billion to fund operations until an initial public offering. The 27-year-old entrepreneur made the comments in a fireside chat with Oyo board member Troy Alstead, after the once high-flying company endured months …

Oyo CEO says company’s business has rebounded from spring nadir
4 years, 2 months ago

Oyo CEO says company’s business has rebounded from spring nadir

Live Mint  

India-based hotel startup Oyo Hotels & Homes has seen a key financial figure rebound to 20% below pre-pandemic levels after falling as much as 60% earlier in the year, Chief Executive Ritesh Agarwal said. Speaking at The Wall Street Journal’s Tech Live conference on Tuesday, Mr. Agarwal said the figure, which Oyo labels “gross margin,” was at its lowest around …

Oyo layoffs: After announcing job cuts, Oyo under pressure from Softbank to curb operating losses
5 years ago

Oyo layoffs: After announcing job cuts, Oyo under pressure from Softbank to curb operating losses

Firstpost  

Ritesh Agarwal, the company’s chief executive, said Oyo was focused on sustainable growth and profitability — which meant layoffs. In recent weeks, Oyo, a budget hospitality company, has pulled out of dozens of cities, cut thousands of hotel rooms, started laying off employees and slashed other costs as it faced pressure from its biggest investor, Japanese conglomerate SoftBank, to curb …

Oyo is firing thousands of staff across China and India, cites non-performance
5 years ago

Oyo is firing thousands of staff across China and India, cites non-performance

Live Mint  

Oyo Hotels is firing thousands of staff across China and India, people familiar with the matter said, adding to growing signs of trouble at one of the largest startups in SoftBank Group Corp.’s portfolio. Oyo’s downsizing is another setback for Masayoshi Son‘s SoftBank, whose portfolio has been buffeted by recent trouble at WeWork and slumping share prices at Slack Technologies …

Oyo likely to cut 2,000 jobs in India by end-January as part of cost-cutting, technology addition measures
5 years ago

Oyo likely to cut 2,000 jobs in India by end-January as part of cost-cutting, technology addition measures

Firstpost  

Last month, Oyo’s internal projections showed it may not make a profit in India and China until 2022, even as the India-based hotel chain revealed a six-fold rise in losses during fiscal year 2019. The losses highlight rapid expansion by Oyo into China, the United States, the United Kingdom and other markets, which has made the six-year-old startup one of …

Hotel operators who partnered with Oyo call it 'biggest online fraud', demand criminal probe against Softbank-backed startup now poised to raise $1.5 bn
5 years, 3 months ago

Hotel operators who partnered with Oyo call it 'biggest online fraud', demand criminal probe against Softbank-backed startup now poised to raise $1.5 bn

Firstpost  

Founded in 2013, Oyo started by aggregating bookings for India’s budget hotels, promising a standard of service in a market where that was more often the exception Even as Oyo Hotels and Homes, le by 25-year-old Ritesh Agarwal expands its horizons with Series F funding, it is finding itself in the cross hairs of an increasing number of Indian hotel …

Founder’s buyback lifts Oyo valuation to $10 billion
5 years, 3 months ago

Founder’s buyback lifts Oyo valuation to $10 billion

Live Mint  

Bengaluru: Oyo Hotels and Homes is raising $1.5 billion, in its largest fundraising to date, from its founder Ritesh Agarwal and Japan’s SoftBank. Agarwal’s capital infusion is part of his plan to triple his stake in Oyo by investing $2 billion to buy back shares from some of the company’s early investors, including Lightspeed Venture Partners and Sequoia India. We …

OYO to raise $1.5 billion in latest round of funding
5 years, 3 months ago

OYO to raise $1.5 billion in latest round of funding

Live Mint  

Bengaluru: OYO Hotels & Homes, on Monday, said it will raise $1.5 billion, as part of its Series F funding round. As a part of the round, RA Hospitality Holdings’ will infuse nearly $700 million as primary capital in the company, with the balance $800 million being supplemented by other existing investors. In order to facilitate this transaction, Lightspeed Venture …

Oyo is successful because of its business model: CEO Ritesh Agarwal
5 years, 3 months ago

Oyo is successful because of its business model: CEO Ritesh Agarwal

Live Mint  

Ritesh Agarwal, founder and chief executive of Oyo Rooms, one of the country’s most popular unicorns—or rather decacorns —insists the credit for the success of his startup should go to the business model and not the quantum of capital raised. Watch video: 'No IPO on cards as of now,' Ritesh Agarwal, Oyo rooms Do you share a deep relationship with …

OYO to add over 3,000 employees in India over 6 months
5 years, 4 months ago

OYO to add over 3,000 employees in India over 6 months

Live Mint  

New Delhi: Hospitality firm OYO on Wednesday said it will add over 3,000 employees across multiple functions in six months to fuel its next phase of growth in India. The development is aligned with the company's commitment towards investing ₹1,400 crore by the end of 2019 in India and South Asia business, OYO said in a statement. "With the addition …

Oyo Hotels acquires Innov8, expands co-working space business
5 years, 5 months ago

Oyo Hotels acquires Innov8, expands co-working space business

Live Mint  

OYO Hotels and Homes, the world’s third-largest chain of hotels, homes, managed living and workspaces, on Tuesday confirmed its acquisition of Innov8, a co-working spaces provider, highlighting the company’s increasing focus on the fast-growing segment. Charting out its multi-brand approach to the workspaces opportunity in India, Oyo introduced three co-working brands under Oyo Workspaces: Innov8, Powerstation and Workflo for upper …

Oyo’s preparing to list in next 2-3 years, eyes up to $18 billion valuation
5 years, 6 months ago

Oyo’s preparing to list in next 2-3 years, eyes up to $18 billion valuation

Live Mint  

Oyo Hotels and Homes, India’s most valuable hotel chain, is preparing for an initial share sale in the next two-three years, according to two people aware of the development, one of them directly associated with the firm. “The intent is to go public in two-three years and the company is taking several steps towards this major goal.” When it happens, …

Oyo creates over 1 lakh direct and indirect jobs in India; aims to double number by next year
5 years, 9 months ago

Oyo creates over 1 lakh direct and indirect jobs in India; aims to double number by next year

Firstpost  

The company is helping empower multiple ancillary industries in the hospitality ecosystem by leveraging scale to make bulk procurement that supports local businesses, Oyo said in a statement. New Delhi: Hospitality firm Oyo on Wednesday said it has created over a lakh direct and indirect jobs in India and is aiming to double the number by 2020. “We are focused …

Oyo to expand 'SilverKey' hotels to 19 cities in 2019; eyes corporate travel sector to spur growth this year
5 years, 9 months ago

Oyo to expand 'SilverKey' hotels to 19 cities in 2019; eyes corporate travel sector to spur growth this year

Firstpost  

With the commitment to expand SilverKey footprint to 19 cities, Oyo is decisively betting big on corporate travel. New Delhi: Hospitality firm Oyo on Tuesday said it will be scaling its executive stays offering — SilverKey — to 19 cities across the country by end of 2019. “Our mission is to help customers find quality accommodation options right where they …

Oyo books $200 million funding from Airbnb
5 years, 9 months ago

Oyo books $200 million funding from Airbnb

Live Mint  

Bengaluru: Airbnb Inc., the world’s largest home-sharing platform, on Monday said it has invested an undisclosed amount in India’s budget hotel startup, Oyo, as the US company seeks to bolster its hotel-booking business ahead of a planned IPO. Two people familiar with the matter said Airbnb has invested between $150 million and $200 million in Oyo as part of the …

Oyo to invest Rs 1,400 cr in India, Nepal markets to enhance infrastructure, technology; announces new brand
5 years, 10 months ago

Oyo to invest Rs 1,400 cr in India, Nepal markets to enhance infrastructure, technology; announces new brand

Firstpost  

Oyo also launched an in-app SoS button for emergency assistance with options to contact the Oyo safety response team as well as local law enforcement authorities. New Delhi: Hospitality firm Oyo will invest Rs 1,400 crore in India and Nepal markets in 2019 as part of efforts to increase infrastructure, strengthen technology and internal capability, it said on Tuesday. “Rs …

Oyo all set to make US foray; plans to launch affordable living solutions for young people, middle-income groups
5 years, 11 months ago

Oyo all set to make US foray; plans to launch affordable living solutions for young people, middle-income groups

Firstpost  

At present, Oyo has over 13,000 franchised and leased hotels, and over 450,000 rooms, adding over 64,000 rooms every month, globally. Ritesh Agarwal-led hospitality firm Oyo is set to make its foray into the American market with affordable housing solutions after aggressively expanding its presence in Asian countries including China and Japan besides Britain, said a media report. Oyo will …

Oyo expands international presence with Philippines foray; to invest over $50 mn, aims to create 1,000 jobs
5 years, 11 months ago

Oyo expands international presence with Philippines foray; to invest over $50 mn, aims to create 1,000 jobs

Firstpost  

The hospitality firm has also committed an investment of over $50 million over the next few years in Philippines and aims to generate 1,000 direct and indirect employment opportunities there. New Delhi: Hospitality firm Oyo on Wednesday said it has launched operations in Philippines with over 21 franchised and leased hotels in the country. The hospitality firm has also committed …

After China, UK, Oyo to expand international footprint with foray into Philippines, onboards 10 properties
5 years, 11 months ago

After China, UK, Oyo to expand international footprint with foray into Philippines, onboards 10 properties

Firstpost  

Oyo intends to expand the number aggressively to tap into the $5 billion opportunity in Philippines market New Delhi: After markets like China and the UK, Indian hospitality chain OYO is looking at further expanding its international footprint with its foray into the Philippines, according to sources. OYO CEO India and South Asia, Aditya Ghosh, in an interview to PTI, …

OYO aims at 1 million rooms to become world’s ‘largest’ hotel chain
6 years ago

OYO aims at 1 million rooms to become world’s ‘largest’ hotel chain

Live Mint  

Kolkata: Hospitality firm OYO Hotels and Rooms on Monday said it is working on a roadmap for 1-million room inventory from the existing count of 4.6 lakh. The company has set a target of 2.5 million rooms by 2023, its promoter Ritesh Agarwal said.At present, OYO has over 13,000 franchised and leased hotels, and over 450,000 rooms, adding over 64,000 …

OYO raises $100 million from Singapore-based Grab's arm A1 Holding; eyes expansion in Southeast Asia
6 years, 1 month ago

OYO raises $100 million from Singapore-based Grab's arm A1 Holding; eyes expansion in Southeast Asia

Firstpost  

In October this year, OYO said it had forayed into Indonesia and also confirmed an investment of over $100 million in the country as part of its expansion in Southeast Asia. Gurugram-based hospitality firm OYO raised about $100 million from Singapore-based transportation services provider Grab’s arm, said media reports OYO raised $100 million from Cayman Islands-based A1 Holding Inc, an …

OYO says it has emerged as one of top 5 hotel chains in China after 12 months of ops; launches six skill institutes
6 years, 1 month ago

OYO says it has emerged as one of top 5 hotel chains in China after 12 months of ops; launches six skill institutes

Firstpost  

The company, currently, has over 1,80,000 franchised and leased rooms and more than 4,000 hotels under various formats in China. New Delhi: Hospitality firm OYO on Thursday said after 12 months of operations in China, the company has emerged as one of the top five hotel chains in the country. The company, currently, has over 1,80,000 franchised and leased rooms …

Oyo enters long-term housing rental segment, rolls out services in Noida, Gurgaon, Bengaluru, and Pune
6 years, 2 months ago

Oyo enters long-term housing rental segment, rolls out services in Noida, Gurgaon, Bengaluru, and Pune

Firstpost  

Oyo Living has onboarded about 36 properties with 2,000 beds, and the plan is to scale it to about 50,000 beds in the next one year Hospitality firm OYO has launched a new business - Oyo Living, focused on the long-term housing rental sector, a media report said. According to The Times of India, Oyo Living already has on-boarded about …

OYO raises $1 billion fund: How 24-year-old Ritesh Agarwal turned his idea into India's second most valuable start-up
6 years, 3 months ago

OYO raises $1 billion fund: How 24-year-old Ritesh Agarwal turned his idea into India's second most valuable start-up

Firstpost  

OYO, a hospitality firm started by 24-year-old Ritesh Agarwal’s hospitality firm, recently announced it had raised a capital of $1 billion in a fresh round of funding led by SoftBank Investment Advisers through SoftBank Vision Fund for further expansion. A college dropout, Agarwal got the idea for Oyo while travelling across the country on a shoestring budget and lodging at …

How 24-year-old Ritesh Agarwal built Oyo into a $5 billion startup in just 5 years
6 years, 3 months ago

How 24-year-old Ritesh Agarwal built Oyo into a $5 billion startup in just 5 years

Live Mint  

Bangalore: Finding clean, affordable hotels in India can be a traveller’s nightmare. “By 2023, we will be the world’s largest hotel chain,” the 24-year-old founder said in a recent interview at an Oyo hotel in a suburb of New Delhi, where the company is based. “Oyo is going all out to build a very large base of hotel partners and …

Oyo Rooms checks into unicorn club with $1 billion fundraise
6 years, 3 months ago

Oyo Rooms checks into unicorn club with $1 billion fundraise

Live Mint  

New Delhi: Hotel chain Oyo Rooms said it would raise $1 billion from Japan’s SoftBank Vision Fund and other investors, making it India’s second-most valuable start-up after Paytm, and the latest to join the coveted unicorn club. The latest funding will give Oyo Rooms, founded by Ritesh Agarwal in May 2013 when he was 19, the necessary firepower to continue …

SoftBank-backed Oyo is in the market to raise about $1bn; looming deal will spawn another Indian unicorn
6 years, 4 months ago

SoftBank-backed Oyo is in the market to raise about $1bn; looming deal will spawn another Indian unicorn

Firstpost  

Oyo is reportedly in talks with two consortia to raise between $500 million and $1 billion. Ltd, the operator of hotel chain Oyo Rooms, is in the market to raise funds and an impending deal could help create India’s most valuable hospitality firm. “What this partnership facilitates is combining OYO’s capabilities of asset management and technology with the scale Weddingz.in …

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