Oyo Quashes Bankruptcy Rumors after NCLT accepts Petition against its Subsidiary

Budget hotel room major Oyo Rooms has categorically rejected Bankruptcy rumors, which began to spread after NCLT accepted insolvency petition against one of Oyo’s subsidiaries. For all those who are not aware, NCLT on Wednesday accepted insolvency petition against Oyo subsidiary Oyo Hotels and Homes Pvt Ltd. The petition has been filed by Hyderabad based creditor…

ByGirish ShettiApril 7, 20210Comments

News

Donald Trump’s word of praise for Oyo and Ritesh Agarwal

Oyo has been battered by lot of bad press in recent weeks, from news about massive job cuts to investor’s reported concerns over company’s ballooning losses. US President, Donald Trump...Image Source: Flickr But on Tuesday Oyo and its talismanic founder & CEO Ritesh Agrawal got much needed word of encouragement from none other than US President Donald…

ByGirish ShettiFebruary 26, 20200Comments

News

Oyo May Soon Fire Nearly 20% of its Indian Workforce: Report

The year 2020 might prove to be the year when Indian startups will have to wake up from their slumber and smell the coffee. And the ongoing economic slowdown may only further increase the vulnerability of Indian startups that are already under enormous pressure to streamline their balance sheet. The first cracks of this vulnerability…

ByGirish ShettiJanuary 14, 20200Comments

Funding News

Oyo’s Expansion Plan gets a $1.5 Bn Funding Muscle

If you claim to be a startup enthusiast and unless you are not hiding behind a rock then you should be well aware that off late Oyo Hotels and Homes has been on an aggressive expansion mode. And now the Gurgaon based company has got a fresh stimulus for its expansion plan as it raised…

ByGirish ShettiOctober 8, 20190Comments

Acquisitions

Oyo Acquires ITC Managed Hotel to Enter Luxury Hotel Space: Report

Oyo Hotels and Homes has acquired Fortune Select Metropolitan, one of the well-known four star hotels in Jaipur, according to Economic Times. The SoftBank backed company has reportedly paid nearly Rs 35-40 crore to acquire the property, which until now was managed by ITC Hotels. Oyo Hotels and Homes acquires ITC managed hotel for Rs 40…

ByGirish ShettiSeptember 12, 20190Comments

Acquisitions

Oyo may be Inching closer to its first ever acquisition in China: Report

Oyo’s recent acquisition spree in domestic market has been least surprising given that it is sitting on a huge pile of cash. But to pull of an acquisition in a highly competitive market like China certainly makes for an aggressive move; especially in the context of Oyo’s continuing quest for international expansion. Reports claims that Oyo…

ByGirish ShettiMarch 27, 20190Comments

Acquisitions

FreshMenu in OYO’s Acquisition Radar: Report

India’s largest hospitability company OYO Rooms is in talks to acquire cloud kitchen startup FreshMenu for nearly $50-60 million, Economic Times has claimed after citing three unidentified sources. The talks have progressed well beyond the initial stage and closure of the deal will depend on due diligence, sources add. OYO Rooms is in talks to acquire…

ByGirish ShettiFebruary 23, 20190Comments

Funding News

Didi Chuxing books ride with Oyo with $100 Mn Funding

Oyo has officially closed the $1 Bn funding round that began few months back after Softbank and Grab together pumped $900 Mn. This after India’s largest hospitality company raised $100 Mn from Chinese ride-hailing giant Didi Chuxing. Didi Chuxing infuses $100 Mn in Oyo According to Economic Times (ET), Didi has invested in Oyo through its subsidiary…

ByGirish ShettiFebruary 14, 20190Comments

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