OYO in talks to raise $500 mn from SoftBank; valuation set to soar

Anil GoelBranded budget hotels marketplace OYO Rooms, run by Oravel Stays Pvt. Ltd, is in talks to raise $300-500 million (Rs 2,000-3,335 crore) from SoftBank Vision Fund, in what will possibly be one of the biggest deals in India’s consumer internet space, a daily reported on Monday. If the deal goes through, OYO will become the […]

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OYO Rooms appoints Amazon exec as CTO

Anil-Goel_OYO-CTO2Branded budget hotels marketplace OYO Rooms, run by Oravel Stays Pvt. Ltd, has appointed Anil Goel as chief technology officer, according to a press statement. Goel was previously with Amazon as the global head of technology for customer returns and reverse logistic business. Prior to that, he was the CTO for Hike Messenger. Goel has […]

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Oyo Rooms raising $90 mn from SoftBank, others

OYODelhi-based Oravel Stays Pvt. Ltd, which runs the branded budget hotels marketplace Oyo Rooms, is raising $90 million (Rs 600 crore) from existing Japanese investor SoftBank Group Corp, according to a report. The Times of India reported that Oyo has already received $61 million and will receive the remaining $29 million in an equity-debt mix. […]

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Hotel room aggregator OYO turns profitable

OYOSoftBank-backed budget hotel room aggregator OYO Rooms said it has attained profitability at an aggregate level. The firm, which is operated by Gurgaon-based Oravel Stays Pvt. Ltd, claimed that it was operationally profitable until June 2015 before it went for expansion but regained profitability at a network level from February 2016, as per a statement. […]

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Freecultr’s CPO quits to join OYO Rooms

Talvinder_feTalvinder Singh, chief product officer of fashion e-commerce portal Freecultr, has quit the company within six months after joining it. Talvinder, who had joined Freecultr in August 2015, joined budget hotels aggregator OYO Rooms as product head. When contacted by Techcircle, both Talvinder and Freecultr’s CEO Sandeep Singh declined to comment on the departure. Freecultr […]

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OYO buys Zo, Zostel in all-stock deal; Zo founders quit

oyo_feIt’s official. Budget hotel aggregator OYO Rooms has acquired Tiger Global-backed smaller rival Zo Rooms, OYO’s lead investor SoftBank said in an earnings presentation. A formal announcement is expected in the next two weeks, a person directly involved in the transaction told Techcircle.in. Spokespersons for OYO and Zo did not respond to an email query till the time […]

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OYO Rooms enters Malaysia in overseas push

Branded hotels aggregator OYO Rooms has started operations in Malaysia, marking its first foray outside India. Higher-than-average mobile penetration and a large internet population makes Malaysia an attractive market for OYO, Ritesh Agarwal, founder and CEO. “OYO’s model is suitable for markets with a large share of unbranded budget supply such as Southeast Asia, Africa […]

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Hotel aggregator Oyo Rooms eyes rival Zo Rooms

SoftBank-backed hotel aggregator Oyo Rooms is looking to acquire Tiger Global-backed smaller rival Zo Rooms, two media reports said on Thursday, citing three unidentified people each. The talks began about three weeks ago and are in a preliminary stage, The Economic Times reported. The move comes as Zostel Hospitality Pvt Ltd, which runs Zo Rooms, is struggling […]

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OYO Rooms pilots food-tech, housekeeping services

Budget hotels aggregator OYO Rooms is venturing into meals aggregation and housekeeping services. Quoting Maninder Gulati, head of strategy and corporate development at OYO, the Economic Times reported that OYO is piloting OYO Café, under which it will aggregate food from kitchens of listed hotel partners. Delhi-based Oravel Stays Pvt Ltd, which runs OYORooms.com, will […]

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