OYO which is also known as OYO Rooms in the India’s largest hotel company offers quite nice stays at a reasonable price.
- Ritesh Agarwal – Founder and CEO.
- It is a type of private business.
- This is founded in 2013 means 5 years ago.
- Area that are served by OYO – India, London, Malaysia, Dubai, Nepal, Indonesia, China.
- Headquarters are on Bissam cuttack.
- Services that are served by this industry – Hotel, Travel, Hospitality, Leisure, etc.
- Revenue is about 2,400 crores.
- Increasing Net income – ₹-325 crore (US$−48 million) (2016).
- Current status of the business in online.
- Company type – open for profit.
- Employees working between 1001-5000.
- OYO organization general phone number – (+91 93 13 931393).
- General contact Email for the organization – prteam@OYOcom.
- Total Number of Funding rounds – 8.
- Total Funding amounts – $450M.
- Total number of Investors – 16.
- Total number of lead investors – 3.
- Total number of Acquisitions – 1.
- Number of Current Team Members – 9.
- Total numbers of past team members in the organization – 4.
- Total numbers of current board members and Advisors in the organization – 2.
- In 2013, Ritesh Agarwal turned Oravel to OYO Rooms and is generally known as OYO.
OYO Rooms, normally known as OYO, is an Indian accommodation administration and network of budget hotels. It was established in 2013 by Ritesh Agarwal and has since developed to more than 8,500 hotels in 230 urban communities in India, Malaysia, Nepal , China , Dubai , London and Indonesia.
It introduced in the Indian cordiality industry by through hotels ovation and institutionalization in the spending hotel fragment, opening a colossal market opportunity. The organization is taking care of the real issues of consistency, openness and accessibility with the utilization of hotels ovation in hotels activities administration and client confronting contributions.
An 18 year old boy named Ritesh Agarwal came out from Bissam cuttack, Rayagada launched Oravel Stays, a site that allows us to booking, listing, posting, etc. Following three months of research and remaining in more than 100 informal lodging, visitor houses, and little hotels, he turned Oravel to OYO in 2013. OYO accomplices with hotels to give comparable encounters crosswise over urban communities.
In March 2015, OYO raised Series. A series of financing $24 million from Lightspeed Venture Partners, Sequoia Capital, Greenoaks Capital and DSG Consumer Partners. In August 2015, OYO raised another $100 million from Softbank Group, a current financial specialist. Multi year later, in August 2016, OYO raised $90 million from Softbank Group, Hotelsoven Capital and existing financial specialists. In September 2017, OYO declared it had shut a $250 million arrangement D round of financing drove by Softbank Group, new speculator Hero Enterprises drove by Sunil Kant Munjal, Sequoia Capital, Greenoaks Capital and Lightspeed Venture Partners. China Lodging made a vital venture of $10 million in OYO in September 2017.
In late 2017, OYO propelled OYO Home, an Airbnb – like commercial center for here and now oversaw rentals. OYO Home has nearness in excess of 10 recreation goals of India including Goa, Shimla, Pondicherry, Udaipur, Kerala and so forth. In April 2018, OYO propelled its first global OYO Home in Dubai.
OYO Links –
OYO Official Website – http://www.OYOrooms.com/
Facebook – https://www.facebook.com/OYOrooms
Linked In – https://www.linkedin.com/company/OYO-rooms
Twitter – https://twitter.com/OYOrooms
OYO References –
- “OYO Financial“. Business Standard.
- Dhar, M. (2016). Brand Shastra: Use the power of marketing to transform your life. Penguin Books Limited. p. pt129. ISBN 978-93-86057-21-1.
- “Ritesh Agarwal Creates India’s Largest Branded Network Of Budget Hotels With OYO“. Forbes.
- Zakaria, N.; Kaushal, L.A. (2017). Global Entrepreneurship and New Venture Creation in the Sharing Economy. Advances in Business Strategy and Competitive Advantage. IGI Global. p. 121. ISBN 978-1-5225-2836-4.
- “At 21, He’s the Mind Behind Multi-Million Dollar Start-Up OYO“.
- “OYO Rooms Goes International; Launches In Malaysia“.
- India, Press Trust of (2017-04-27). “OYO expands international presence with hotel launch in Nepal“. Business Standard India.
- “How OYO‘s Ritesh Agarwal transformed the business of budget accommodation“.
- “Oravel founder Ritesh Agarwal wins Thiel Fellowship“.
- “OYO Rooms, raises $25M funding from Lightspeed, Sequoia, others“.
- “OYO Rooms raises $100 million from Softbank, others“.
- “OYO Rooms closing $90million round in two tranches led by SoftBank“.
- “OYO secures $250M funding led by SoftBank Vision Fund and Hero Enterprise“.
- “OYO snags $10M strategic investment from hotel giant China Lodging“.
- Bhattacharya, Ananya. “In trying to be the Indian Airbnb, OYO may be turning too cumbersome“. Quartz.
- “Unlocking Homes for Great Holiday Experiences – Official OYO Blog“. Official OYO
Information Source –
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