Exclusive: Last-minute hotel booking startup RoomsTonite shuts down

Close-free2RoomsTonite, a mobile app for last-minute hotel bookings, has closed down operations as funds dried up following a failed $1.5 million fundraising bid, two persons familiar with the development told VCCircle. The startup decided to draw the curtain around eight months ago when operating costs began to get out of control. Its mobile application is […]

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Cloud telephony firm Knowlarity hires former OYO Rooms exec as CTO

Ajay-ShrivastavaCloud telephony firm Knowlarity has appointed former OYO Rooms executive Ajay Shrivastava as its chief technology officer, a statement issued by the company stated. In his previous role, Shrivastava led the technology vertical at the budget accommodation aggregator. He has also previously worked at Slideshare at LinkedIn, Intel, Adobe, Microsoft, and others. He is an […]

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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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Microsoft’s India cloud plans get booster shot as Flipkart signs up

Binny-Bansal,GroupCEOand-Co-FoundSatyaNadellaCEOMicrosoft_tc_feGlobal technology leader Microsoft and India’s top e-commerce firm Flipkart have announced a broad collaboration under which, as a first step, the latter will use Microsoft Azure as its exclusive public cloud platform. Microsoft CEO Satya Nadella and Flipkart group CEO Binny Bansal together announced the partnership at an event in Bangalore on Monday. The […]

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Accommodation booking platform Zolo secures $5 mn in Series A funding

For-Zolo-Story-TC_ThinkstockPhotos-491600850Bangalore-based accommodation startup Zolo (previously known as Zelo) has raised $5 million in Series A funding led by existing investor Nexus Venture Partners. The funding round also saw participation from venture debt firm Innoven Capital. The company plans to use the raised capital to scale its services from 5,000 locked-in beds to over 12,000 and […]

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Flashback 2016: SoftBank stays on sidelines, tanks up for future

softbank_feBy its lofty standards, 2016 was a relatively quiet year for the SoftBank juggernaut. The telecom and Internet conglomerate, which put copious amounts of money in Snapdeal, OYO Rooms and Grofers in the previous year, stayed away from making any fresh investments in India. This uncharacteristic quiet at SoftBank in terms of fresh investments can […]

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SoftBank’s Masayoshi Son to visit India; big announcement on Ola expected

Masayoshi-SonSoftBank Group Corp chairman and managing director Masayoshi Son is coming to India early December when the Japanese telecom and Internet conglomerate is expected to make a few high-profile announcements, said two people directly aware of the upcoming visit. SoftBank is one of the largest investors in some of India’s leading consumer Internet companies that […]

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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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OYO Rooms taken to court by advisory firm; Microsoft launches online store with Tata CLiQ

OYOA Mumbai-based hospitality advisory firm has dragged OYO Rooms to court for failing to pay dues while Microsoft has launched an online store on TataCLiQ.com, the Tata Group’s e-commerce website. Here’s a quick roundup of the startup and technology stories of the day. Noesis takes OYO Rooms to court Mumbai-based hospitality advisory firm Noesis Capital […]

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