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 some “truly horrible guest houses”, according to Bloomberg. In 2015, he got $100 million in venture funding from investors including Sequoia Capital and Japan’s SoftBank Group Corp. OYO Hotels now aims to shake up Britain’s budget accommodation market with a franchising and marketing strategy to sign up 300 independent hotels before 2020. Agarwal recently said OYO would launch its first two hotels in the London districts of Edgware and Ilford next month.

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History of this topic

Over 10 lakh people used OYO rooms on NYE, says Ritesh Agarwal: ‘Our users are certified night owls’
2 weeks, 1 day ago

Over 10 lakh people used OYO rooms on NYE, says Ritesh Agarwal: ‘Our users are certified night owls’

Live Mint  

OYO CEO Ritesh Agarwal on Tuesday said that over 10 lakh people used OYO rooms across the world on the New Year's Eve. “The New Year is off to an incredible start, with over 1.1 million travellers staying with us worldwide this NYE—marking a remarkable 58% increase from 2023, with the addition of Motel 6 and Studio 6 to our …

Oyo founder Ritesh Agarwal to invest ₹550 crore into the company for global expansion
1 month, 4 weeks ago

Oyo founder Ritesh Agarwal to invest ₹550 crore into the company for global expansion

Hindustan Times  

Oyo's founder and CEO Ritesh Agarwal may personally invest ₹550 crore into the company as it looks to expand globally as part of a proposal which will be taken up during the company’s extraordinary general meeting on December 9 as a special resolution. The logo of OYO, India's largest and fastest-growing hotel chain, installed on a hotel building is pictured …

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 …

Why Oyo boss Ritesh Agarwal must clean up before the IPO
2 years, 1 month ago

Why Oyo boss Ritesh Agarwal must clean up before the IPO

Live Mint  

On 2 December, at noon, a man walked into Rajdoot Hotel with a suitcase. Recently, the federation wrote to the market regulator, Securities and Exchange Board of India, alleging that “Oyo is responsible for the systemic depredation of the budget segment hotel business”. Since we have a revenue sharing arrangement, it’s in both the hotels’ and Oyo’s interest to charge …

IPO-bound OYO valuation dips in private market: Report
2 years, 3 months ago

IPO-bound OYO valuation dips in private market: Report

Hindustan Times  

Valuation of IPO-bound OYO in the private market has dipped to around USD 6.5 billion following reports of a markdown of valuation of the hospitality and travel-tech firm by SoftBank in its private books, according to industry players. Last month, in a regulatory filing OYO reported a revenue of ₹ 1,459.32 crore in the three-month period ended June 30, 2022. …

A slimmed-down Oyo looks better placed for an IPO
2 years, 3 months ago

A slimmed-down Oyo looks better placed for an IPO

Live Mint  

Oyo Hotels & Homes has shelved some of its grand overseas ambitions. If the recovery in budget travel, which is Oyo’s bread and butter, can gain a bit of steam, the company would be relatively well placed for a public listing, even in a tough market. In its preliminary IPO filing with Indian market regulators last year, Oyo said it …

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 …

Ritesh Agarwal: Room to grow
3 years ago

Ritesh Agarwal: Room to grow

India Today  

In 2020, London-based research group Hurun featured Ritesh Agarwal as the second youngest billionaire in their Global Rich List 2020. A college dropout from Rayagada in Odisha, Agarwal has built an empire of over a million rooms in 43,000 hotels and 150,000 vacation homes globally. OYO was valued at $10 billion in 2019 after Agarwal bought back shares worth $2 …

OYO appoints Ankit Gupta as CEO; to lead flagship hotels, homes
3 years, 2 months ago

OYO appoints Ankit Gupta as CEO; to lead flagship hotels, homes

Live Mint  

Ltd, which operates the OYO Hotels and Homes business, said it has appointed Ankit Gupta as chief executive officer of franchise and frontier business – India. As a part of his expanded responsibilities, Gupta will be leading OYO’s flagship hotels & homes business as well as other verticals. Earlier in March, an arbitral tribunal ruled in favour of Zostel calling …

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 …

Oyo likely to file for ₹8,000 crore IPO next week
3 years, 3 months ago

Oyo likely to file for ₹8,000 crore IPO next week

Live Mint  

SoftBank Group-backed Indian hospitality startup Oyo Hotels and Rooms is expected to file for an initial public offering next week to raise around $1 billion, a source told Reuters on Thursday. The hotel aggregator is looking to list in India's financial capital of Mumbai and its IPO is tentatively pegged at between $1 billion and $1.2 billion, adding it will …

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 …

Fresh funding round values Byju’s at $10.5 billion
4 years, 5 months ago

Fresh funding round values Byju’s at $10.5 billion

Live Mint  

DST Global, the late-stage venture capital fund backed by Israeli-Russian billionaire Yuri Milner, is in advanced talks to invest around $400 million in online education platform Byju’s, said two people aware of the talks. Bengaluru-based Byju’s will look to raise an additional $200 million from existing investors apart from DST in the ongoing round, said one of the two people …

Oyo founder Ritesh Agarwal launches early-stage VC fund
4 years, 5 months ago

Oyo founder Ritesh Agarwal launches early-stage VC fund

Live Mint  

BENGALURU: Hospitality startup Oyo’s founder Ritesh Agarwal has floated an early-stage venture capital fund named Aroa Ventures, which will focus on investments in growth-stage startups in consumer, technology, and leisure infrastructure sectors. In July, Paytm founder Sharma formed separate investment entities VSS Holdings Pvt Ltd and VSS Investco Pvt Ltd to directly invest in startups. “Beyond capital, our team of …

Oyo CEO Ritesh Agarwal hints at more layoffs to drive sustainable growth; around 1,000 Indian employees to lose jobs
5 years ago

Oyo CEO Ritesh Agarwal hints at more layoffs to drive sustainable growth; around 1,000 Indian employees to lose jobs

Firstpost  

The focus of Oyo and Agarwal for 2020 will be on sustainable growth, operational and customer excellence, profitability, and training and governance. Oyo will, in the coming days, lay off 1,450 employees, 1,000 of them in India, in an attempt to drive “sustainable and profitable growth” at the SoftBank-backed startup, a source told Tech2. It requires tough choices and it …

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 …

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 raise $200 mn for luxury push in US
5 years, 3 months ago

Oyo to raise $200 mn for luxury push in US

Live Mint  

Bengaluru: Oyo Hotels and Homes, the operator of India’s largest network of hotels, is in talks with financial institutions to borrow $200 million to buy premium and luxury hotels in the US, two people familiar with the matter said. The company, which bought Hooters Casino Hotel in Las Vegas last month, has identified the premium hotels segment as its area …

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 founder Ritesh Agarwal to buy back shares from early investors for USD 2 billion
5 years, 5 months ago

OYO founder Ritesh Agarwal to buy back shares from early investors for USD 2 billion

India TV News  

Hospitality firm OYO on Friday said its founder Ritesh Agarwal has signed a deal to buy back shares worth USD 2 billion from early investors through his Cayman islands-registered entity, RA Hospitality Holdings, to almost triple his stake in the company. "Company's founder and CEO Ritesh Agarwal, through RA Hospitality Holdings, has signed USD 2 billion primary and secondary management …

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 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’s India revenue for FY18 rises over three-fold at ₹327 crore
5 years, 11 months ago

Oyo’s India revenue for FY18 rises over three-fold at ₹327 crore

Live Mint  

Hospitality startup Oyo reported more than three-fold jump in revenues at ₹327 crore for the year ended March 2018 as against ₹107 crore in FY17 for it's India operations. The Gurugram-based company's revenue is expected to grow at the same momentum to hit ₹1,481 crore for FY 2018-19, according to a blog note by Abhishek Gupta, chief financial officer at …

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 expands global presence with Sri Lanka foray; hospitality firm to strengthen presence in South Asian mkt
6 years, 1 month ago

OYO expands global presence with Sri Lanka foray; hospitality firm to strengthen presence in South Asian mkt

Firstpost  

Currently, OYO has presence in seven countries including India, China, Indonesia, Malaysia, Nepal, the UK and the UAE. New Delhi: Hospitality firm OYO has entered Sri Lanka as part of its expansion plan in South Asian market, sources said on Thursday. However, when asked for confirmation on this development, OYO Hotels and Homes COO Abhinav Sinha said, “Sri Lanka, being …

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 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 …

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 …

Deals Buzz: China’s Didi Chuxing may invest in Oyo Rooms
6 years, 4 months ago

Deals Buzz: China’s Didi Chuxing may invest in Oyo Rooms

Live Mint  

Mint brings to you your daily dose of top deals reported by newsrooms across the country. China’s Didi Chuxing may invest in Oyo Rooms Didi Chuxing, China’s largest cab-hailing app Didi Chuxing may invest in Indian startup Oyo Rooms, in what would be the ride-hailing giant’s second bet on an Indian startup after Ola, The Times of India reported. Byju’s …

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 …

Success saga of OYO hotel network
6 years, 7 months ago

Success saga of OYO hotel network

The Hindu  

Five years after he dropped out of college, Ritesh Agarwal, 24, has transformed his start-up into India’s largest hospitality company. Preferred destination Mr. Agarwal, OYO CEO, has big plans for Andhra Pradesh and wants to create more budget rooms in Tirupati. He says the State is one of the most preferred destinations among Indians with high footfall from both leisure …

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