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 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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Consolidation coming, room for only a couple of competitors: OYO’s Agarwal

Being predictable isn’t necessarily boring, says Ritesh Agarwal, founder and CEO of OYO Rooms which has made ‘predictability’ the mainstay of its budget hotel aggregation business. As he puts it, predictability is about trust, and that’s what keeps OYO’s customers coming back. OYO today has a network of 1500-plus hotels in more than 100 cities […]

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Entrepreneurship is a lonely journey, persevere

OYO Rooms is being built on the belief that predictability in hotel accommodation will push more Indians to travel and explore. We are trying to solve a large problem and there are many roadblocks on the way. As an entrepreneur, it’s very important to persevere and be convinced about what you are trying to achieve. […]

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Branded marketplace for budget hotels OYO claims to book 50K room nights a month

Delhi-based Oravel Stays Pvt Ltd, which runs an online branded marketplace for budget hotels OYORooms.com, claims to register more than 50,000 room nights a month and is aiming to grow it six-fold by the end of this year. The firm just closed a large VC round raising Rs 150 crore ($24 million) from Greenoaks Capital […]

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