Page 4 - Oyo

Hotel and restaurant body asks Sebi to axe Oyo's IPO citing massive losses

The FHRAI on Wednesday urged SEBI to call off online hospitality major Oyo's initial public offering (IPO), citing the massive losses suffered by the hotel rooms aggregator in recent years

OYO completes acquisition of Europe-based company Direct Booker

Direct Booker has over 3,200 homes and serviced 2 million customers so far, OYO said in a statement

Valuations are temporary, values are forever: OYO CEO Ritesh Agarwal

Startup founders should remember that valuations are temporary and values are forever, and they must focus on doing good and stay grounded, travel and hospitality technology platform OYO's Founder and Group CEO Ritesh Agarwal said on Monday. Commenting on India crossing the 100 unicorns mark, in a post on Twitter, he said it is "not just a milestone but a stepping stone that lays the path for the next 1,000 unicorns." Retweeting his video message posted by Startup India, Agarwal said, "I am bullish on Indian entrepreneurs taking the world by storm. Founders should remember that valuations are temporary, values are forever. Focus on doing good & stay grounded." In the video message, he said it seems like India is not walking anymore when only one or two unicorns were added a year. "We are now sprinting towards glory to make India the largest entrepreneurial ecosystem in the world," he said. He listed out the presence of entrepreneurs and markets in Tier II, III and IV towns in ...

OYO completes acquisition of Europe-based Direct Booker for $5.5 mn

OYO acquire Europe-based Direct Booker. OYO has in the recent past declared its intent of actively scouting for 'tuck-in' acquisitions, especially in the European market as a strategic growth lever

India's small towns hotbeds of entrepreneurship: OYO chief Ritesh Agarwal

"The new young India that is building their businesses, is aspiring to build sizable world champions in the consumer segments that they operate," Agarwal said

OYO hits weekend with over 300K bookings; surpasses New Year's bookings

OYO also observed a 134 per cent jump in weekend vs weekday bookings during the festive weekend in 2022 vs 111 per cent in 2019.

Oyo rejigs top brass ahead of IPO, replaces CEO of India business

Kapoor, Tandon, and Gupta will take on their new responsibilities effective from April 1, 2022

SoftBank-backed Oyo to weigh 50% smaller IPO amid market turmoil: Report

Oyo made preliminary filings in September aiming for an IPO in early 2022

Oyo appoints former PayU exec Prakash Padariya as cyber security head

He has more than 19 years of experience across geographies with extensive expertise in corporate security consulting, cyber security, cyber warfare, vulnerability assessment

Upstox ropes in Myntra, Oyo executives to bolster leadership team

Harish Narayanan joins as Chief Growth Officer, Jayant Chauhan as Senior Vice President-Finance and Saurabh Agarwal as Vice President-New Initiatives

Oyo IPO: Delhi HC rejects Zostel's petition for stake in firm

The root of the dispute between IPO bound Oyo and Zostel lies in a failed buyout deal 6 years ago, which Zostel claims was binding on Oyo.

Oyo founder Ritesh Agarwal's family office funds agritech startup Agrowave

Anu Meena, an IIT Delhi alumni started Agrowave to solve the problem faced by her grandfather and millions of farmers in selling their fresh produce.

Sensex falls 554 pts, Nifty below 18,150 amid rising bond yield, oil prices

In the intra-day trade, the indices hit a low of 60,662 and 18,086, respectively

Oyo Hotels targets $9-billion valuation in IPO; may get Sebi nod soon

The SoftBank Group-backed start-up is expected to get the green light to proceed with the offering this week or next after filing preliminary documents last year

SoftBank-backed Oyo to target $9-bn valuation in IPO: Report

The valuation Oyo is targeting would be lower than the $12 bn initially reported last year, which reflects Oyo's financial struggles and a more measured appetite for IPOs following Paytm debacle

Has IPO-bound travel tech major OYO regained trust of its hotel partners?

As OYO prepares for its public listing, the continued satisfaction of its hotel partners and winning back dissatisfied partners will play a key role in determining how its business performs.

Over 1 mn people made bookings with OYO for New Year celebrations: CEO

Over 10 lakh people booked for more than 5 lakh nights with hospitality chain OYO for New Year 2022 celebrations, generating bookings worth around Rs 110 crore over the weekend on its global platform, according to company Founder & Group CEO Ritesh Agarwal. In a social media post, he said 58 per cent bookings for the New Year's eve were made on the same day keeping the trend witnessed since December 2017 that reflected the "impulsive emotion and decision" related with travel. "Thank you to over a million people who booked more than half a million nights with us this New Years. For all of us at OYO, it was a busy NY (new year)," he wrote in his post on LinkedIn. He further said, "2021 booking was (the) highest among 90 pandemic weekends since April 2020 with total customer bookings globally on our platform worth (around) Rs 110 crore (USD 14.6 million) over the weekend." Agarwal said rooms booked on NY weekend of December 30-31 in 2021 stood at 5.03 lakh as compared to 1.02 lakh ...

Over 500 employees, ex-staff of IPO-bound OYO buy around 30 mn shares

OYO had offered deeply discounted ESOPs to both current and former employees when the impact of COVID-19 led to pay cuts and furloughs

Top headlines: Future moves HC against Amazon; over 4k Covid cases in Delhi

Business Standard brings you the top headlines on Monday

Indian travellers indulged in 'workcation' mode this year: OYO report

Hill stations ranked top on the list of spots for these work and travel trips, followed by many who visited their hometowns and beach destinations.