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<ul><li>Oyo has received an undisclosed amount of funding from <keyword id="719382" type="COMPANY" weightage="20" keywordseo="Airbnb">Airbnb</keyword> in a series E round. </li><li>The strategic investment will see both Oyo and Airbnb collaborate on various projects. </li><li><keyword id="2550719" type="PERSON" weightage="20" keywordseo="OYO-Rooms">Oyo Rooms</keyword> had also announced its home rental service in Japan on Monday.</li></ul>US-based home renting startup AirBnB has reportedly picked up a stake in Oyo Rooms. In a series E funding whose details are undisclosed, AirBnB has invested in the Indian hospitality unicorn. According to earlier <a href="https://www.businesstoday.in/current/corporate/airbnb-in-talks-to-invest-100-200-million-in-oyo-report/story/329283.html">reports</a>, AirBnB had been looking at investing anywhere between $100 million-$200 million in the Indian startup. “As the 6th largest hotel chain operator in the world, we at, OYO Hotels &amp; Homes, are committed to offering our guests and travelers around the world, great quality living spaces. We are happy to have Airbnb as our partner in this vision,” said Maninder Gulati, Global Chief Strategy Officer at OYO Hotels &amp; Homes. Gulati further said that Airbnb’s strong global footprints and access to local communities will open up new opportunities for OYO Hotels &amp; Homes to strengthen and grow while staying true to our core value proposition. According to sources, the funding development from Airbnb comes as a strategic <keyword id="7485728" type="UNKNOWN" weightage="20" keywordseo="Investment-in-OYO">investment in Oyo</keyword>. Both Oyo and Airbnb are looking at opportunities to collaborate on a range of projects, including making OYO accommodations available on the Airbnb platform. “India has approximately 410 million millennials, that’s more than the entire population of the US. This group increasingly makes up for the dominant segment of consumers and is looking for new and authentic travel experiences. We are working towards achieving 1 billion Airbnb users in the next 10 years and India will play an important role in helping us achieve that goal,” Nathan Blecharczyk, co-founder of Airbnb had told Business Insider on March 13. Oyo Rooms has been growing at a fast rate, expanding its business territories beyond India. Having successfully expanded in China and several South East Asian markets, on Monday, Oyo also announced that it’s expanding in Japan with Oyo Life – an apartment rental service. An official statement from the company said that the company has already received over 11,000+ pre-registrations and has touched an occupancy of over 114% at the time of launch itself. See Also: <a href="https://www.businessinsider.in/former-indigo-chief-is-aiming-to-make-the-6-year-old-oyo-the-worlds-largest-hotel-chain/articleshow/67536612.cms">A 6-year-old Indian startup wants to be world’s biggest hotel chain</a> <a href="https://www.businessinsider.in/exclusive-airbnb-may-defer-its-ipo-plan/articleshow/68392360.cms">'We have not decided if we will go public in 2019': Airbnb cofounder hints at IPO timing</a>

Airbnb picks up a stake in its Indian rival Oyo Rooms

Founder <keyword id="20198157" type="General" weightage="20" keywordseo="Ritesh-Agarwal" source="keywords">Ritesh Agarwal</keyword> has invested Rs 830 crore through his Singapore-based entity Patient Capital in <keyword id="19901637" type="General" weightage="20" keywordseo="OYO" source="keywords">OYO</keyword>'s latest <keyword id="20080855" type="General" weightage="20" keywordseo="funding-round" source="keywords">funding round</keyword> -- wherein the <keyword id="21745043" type="General" weightage="20" keywordseo="travel-tech-platform" source="keywords">travel tech platform</keyword> raised Rs 1,457 crore, sources said. Post the equity dilution in the <keyword id="22756111" type="General" weightage="20" keywordseo="Series-G-funding" source="keywords">Series G funding</keyword>, Agarwal's holdings will increase from 29.97 per cent earlier, to 32.57 per cent post the investment, sources told PTI. According to sources close to the transaction, "Ritesh has invested to protect his ownership dilution in OYO as well as a signal of confidence in the company's prospects. The investment is backed by Singapore-based family offices." <keyword id="20517346" type="General" weightage="20" keywordseo="Oravel-Stays-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Oravel Stays Ltd" meta.hostid="261" meta.entityid="Oravel Stays Ltd">Oravel Stays Ltd</keyword>, the parent company of OYO, has raised Rs 1,457 crore from a consortium of investors in the latest funding round. The additional equity issuance was approved by 99.99 per cent shareholders in an Extraordinary General Meeting (EGM) held on August 8. The additional fundraise values the company at USD 2.4 billion, as the first Series G tranche issued to InCred in July. The investment is being made through Compulsory Convertible Cumulative Preference Shares, each priced at Rs 29, consistent with the valuation of the recent raise in Series G. The capital will be used to support OYO's growth and its global expansion plans, sources said.

Founder Ritesh Agarwal invests Rs 830 crore in OYO's latest funding round; Platform raises Rs 1,457 crore

<ul><li><keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword> has announced a Joint Venture with <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">Softbank</keyword> Corp and Softbank Vision fund to launch <keyword id="7496028" type="UNKNOWN" weightage="20" keywordseo="Oyo-Hotels-Japan">Oyo Hotels Japan</keyword>. </li><li>Softbank has been an investor in OYO since 2018.</li><li>OYO had recently announced its funding from Airbnb as well.</li></ul>Indian hospitality <keyword id="152045" type="ORGANIZATION" weightage="20" keywordseo="Unicorn">unicorn</keyword> OYO has announced its partnership with Japan-based SoftBank Corp and the SoftBank Vision fund to expand its business in Japan. The new venture called Oyo Hotels Japan will be led by Prasun Chaudhary, one of OYO's founding members. OYO had recently announced its housing rental service in Japan called Oyo Life. The company’s official statement said that their business in Japan would “empower small and independent asset owners in Japan with its rapid transformation capabilities and integrated hotel / ryokan management system powered by advanced AI technology.” Softbank has been a loyal supporter of OYO. The Japanese investment firm has been one of OYO's investors since 2015. It was Softbank's investment that led OYO into the Indian unicorn club with a $5 billion valuation in September 2018, a huge jump from the $900 million valuation it had until then. OYO which had expanded its business in China in 2017 had already made China one of its biggest markets. Now, with its entry into Japan it aims to get closer to its dream of being the <a href="https://www.businessinsider.in/former-indigo-chief-is-aiming-to-make-the-6-year-old-oyo-the-worlds-largest-hotel-chain/articleshow/67536612.cms">world’s biggest hotel chain.</a> “OYO is already the most preferred brand in the budget to mid-segment hospitality space in several global markets, where our operational expertise in revenue management, and distribution, through both offline and online channels, has helped us gain significant momentum,” said <keyword id="1670338" type="PERSON" weightage="20" keywordseo="Ritesh-Agarwal">Ritesh Agarwal</keyword>, Group CEO &amp; Founder, OYO Hotels &amp; Homes. OYO had recently announced a strategic investment from global giant Airbnb. See Also: <a href="https://www.businessinsider.in/home-renting-giant-airbnb-invests-in-indian-unicorn-oyo-rooms/articleshow/68670636.cms">Airbnb picks up a stake in its Indian rival Oyo Rooms</a> <a href="https://www.businessinsider.in/oyo-rooms-eyeing-acquisition-of-freshmenu/articleshow/68112104.cms">Oyo wants a bite of foodtech, may acquire Freshmenu: Report</a> <a href="https://www.businessinsider.in/former-indigo-chief-is-aiming-to-make-the-6-year-old-oyo-the-worlds-largest-hotel-chain/articleshow/67536612.cms">A 6-year-old Indian startup wants to be world’s biggest hotel chain</a>

OYO partners with Softbank to create a joint venture for its Japan business

<ul><li>OYO, which already has 50 hotels in the US, has invested $300 million to expand its presence. </li><li>It will soon enter New York, Los Angeles and San Francisco.</li><li>Softbank founder Masayoshi Son, who is one of the biggest backers of the startup, has said that OYO will be able to achieve its aim of being the world’s largest hotel network.</li></ul>Indian hospitality unicorn OYO is investing as much as $300 million to expand its footprint in the United States. The $5 billion company is already the largest network of hotels and rooms in South Asia, and the second largest in China. Now, it is looking to enter big markets like New York, Los Angeles and San Francisco. It already has 50 hotels across 15 states in the US, with 350 employees. It is currently present in cities like Dallas, Houston, Augusta, Atlanta and Miami. “We are convinced there is unlimited potential for rapid growth in our newest home market, the United States,” said <keyword id="1670338" type="PERSON" weightage="20" keywordseo="Ritesh-Agarwal">Ritesh Agarwal</keyword>, Founder &amp; CEO of OYO. With its expansion in the US, OYO claims it has already created 1000 jobs. The six-year old startup has been eyeing international growth for over two years. OYO expanded its business in China in 2017, and it has paid off. China is now one of its biggest markets. These aggressive growth plans support OYO’s ambition to become the world’s <a href="https://www.businessinsider.in/former-indigo-chief-is-aiming-to-make-the-6-year-old-oyo-the-worlds-largest-hotel-chain/articleshow/67536612.cms">biggest</a> hotel chain. It is <a href="https://inc42.com/buzz/hospitality-unicorn-oyo-may-raise-1-bn-to-turn-decacorn/">reportedly</a> in talks to raise $1 billion to reach a valuation of $10 billion. And in this quest for global expansion, the company has the backing of big investors like the Japanese investment bank Softbank as well as Airbnb, which used to be a competitor in the hospitality until April 2019 when the Silicon Valley star decided to invest in OYO. Now, OYO is looking to spread its wings in the US which is one of the biggest markets for Airbnb. In a general shareholders meeting, SoftBank founder Masayoshi Son <a href="https://www.business-standard.com/article/companies/oyo-may-become-largest-hotel-network-in-the-world-softbank-s-masayoshi-son-119062000123_1.html">said</a> that OYO will soon become the world’s largest hotel network. It was Softbank's investment that led OYO into the Indian unicorn club with a $5 billion valuation in September 2018, a huge jump from the $900 million valuation it had until then. In April 2019, it announced a partnership with Japan-based SoftBank Corp and the SoftBank Vision fund expansion in the country. It runs housing rental service called OYO Life in Japan currently. See Also: <a href="https://www.businessinsider.in/home-renting-giant-airbnb-invests-in-indian-unicorn-oyo-rooms/articleshow/68670636.cms">Airbnb picks up a stake in its Indian rival Oyo Rooms</a> <a href="https://www.businessinsider.in/oyo-rooms-eyeing-acquisition-of-freshmenu/articleshow/68112104.cms">Oyo wants a bite of foodtech, may acquire Freshmenu: Report</a> <a href="https://www.businessinsider.in/former-indigo-chief-is-aiming-to-make-the-6-year-old-oyo-the-worlds-largest-hotel-chain/articleshow/67536612.cms">A 6-year-old Indian startup wants to be world’s biggest hotel chain</a>

OYO is making a march to the top US cities with $300 million and blessings from Softbank and Airbnb

<ul><li><keyword id="1670338" type="PERSON" weightage="20" keywordseo="Ritesh-Agarwal">Ritesh Agarwal</keyword> through his Cayman-registered company RA Hospitality Holdings, has invested $2 billion into <keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword>. </li><li>OYO’s early investors <keyword id="455799" type="COMPANY" weightage="20" keywordseo="Lightspeed-Venture-Partners">Lightspeed Venture Partners</keyword>, and <keyword id="563136" type="ORGANIZATION" weightage="20" keywordseo="Sequoia-India">Sequoia India</keyword> are selling part of their stake in the company to increase Agarwal’s stake. </li><li>The company also claims that its revenue grew 4.4 times in June 2019 as compared to June 2018.</li></ul>In a first for the Indian startup community, OYO founder Ritesh Agarwal invested $2 billion into his own company. Agarwal made the investment through a Cayman-registered company, RA Hospitality Holdings. OYO’s early investors Lightspeed Venture Partners, and Sequoia India are selling a part of their stake in the company back to him. “It is a very exciting time for OYO right now as we make great living spaces come alive across all corners of the world from Texas to Tokyo. The deal remains subject to shareholder and regulatory approvals,” said Ritesh Agarwal, Founder &amp; CEO (Group), OYO Hotels &amp; Homes. Agarwal reportedly wants to raise his stake in the firm to over 30%. Currently, Agarwal holds 9.43% in the hospitality startup, while SoftBank, the Japanese investment firm, controls 45.69% of the company. Early investor Lightspeed has 13.4% stake, while Sequoia Capital has 10.24%. According to information sourced by paper.vc, Article 21.6 of Oyo’s Articles of Association prohibit Softbank from directly or indirectly, acquiring more than 49.99% of the fully diluted share capital of the company, without the consent of Aggarwal, Greenoaks, Lightspeed and Sequoia Capital. SoftBank has been an investor in OYO for a long time now. It was Softbank's investment that led OYO into the Indian unicorn club with a $5 billion valuation in September 2018, a huge jump from the $900 million valuation it had until then. The company also claims that its revenues grew 4.4 times in June 2019 as compared to June 2018). It has a million rooms, out of which over 200,000 are in India. OYO now has 20,000 buildings with its signature red and white logo branding on it. The Indian hospitality unicorn has been spreading its business far and wide. It recently became China’s largest hotel chain. OYO said that it will invest $300 million to expand its footprint in the United States – into cities like New York, Los Angeles and San Francisco. It already has 50 hotels across 15 states in the US. It also launched services in Vietnam.

OYO’s Ritesh Agarwal sets a new benchmark – invests $2 billion into his own company to increase his stake

<ul><li>OYO Hotel &amp; <keyword id="8016838" type="UNKNOWN" weightage="20" keywordseo="casino-in-las-vegas">Casino in Las Vegas</keyword> will have 657 rooms. </li><li>The property was earlier a <keyword id="8016837" type="UNKNOWN" weightage="20" keywordseo="hooters-casino-hotel">Hooters Casino Hotel</keyword>. </li><li>Earlier in June, OYO has announced its decision to invest $300 million in the US.</li></ul>Indian hospitality unicorn OYO has opened a 35,000 square-foot casino in Las Vegas. Called OYO Hotel &amp; Casino, the property will have 657 rooms across nineteen floors. Interestingly, the hotel was earlier the Hooters Casino Hotel. “Earlier in June, we announced our plan to invest $300 million in the US. With our newest hotel in Las Vegas, we are excited to cater to a completely different audience segment and are certain that this will be the perfect start to OYO’s journey in Las Vegas,” said <keyword id="1670338" type="PERSON" weightage="20" keywordseo="Ritesh-Agarwal">Ritesh Agarwal</keyword>, Founder &amp; CEO, <keyword id="4964826" type="PERSON" weightage="20" keywordseo="OYO-hotels">OYO Hotels</keyword> &amp; Homes. OYO partnered with Highgate which will take over the management of the hotel. Highgate is a premier hospitality investment and management company. Meanwhile, the casino will be managed by Paragon Gaming. The $5 billion company is already the largest network of hotels and rooms in South Asia, and is the second largest in China. Now, it is looking to enter big markets like New York, Los Angeles and San Francisco. It already has 50 hotels across 15 states in the US, with 350 employees. It is currently present in cities like Dallas, Houston, Augusta, Atlanta and Miami.

OYO opens a 35,000 sft casino in Las Vegas by rebranding a Hooters hotel

<ul><li><keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword> announced the appointment of <keyword id="8358499" type="UNKNOWN" weightage="20" keywordseo="betsy-atkins">Betsy Atkins</keyword> on its board as an independent director. </li><li>Atkins as the CEO of <keyword id="8358498" type="UNKNOWN" weightage="20" keywordseo="baja-corporation">Baja corporation</keyword> which invested in companies like <keyword id="6363100" type="ORGANIZATION" weightage="20" keywordseo="yahoo">Yahoo</keyword> and <keyword id="6357395" type="UNKNOWN" weightage="20" keywordseo="eBay">eBay</keyword>. </li><li>Her expertise lies in scaling companies leading them to successful IPO and acquisitions. </li></ul>OYO announced the appointment of Betsy Atkins as independent director into its board. Atkins is the CEO of Baja corporation, where she has built three early stage funds, and invested in companies like Yahoo and eBay. Interestingly, Atkins’ expertise lies in scaling companies and leading them to successful IPOs and acquisitions. Her entry could all but confirm the many rumours that OYO might soon be heading for an IPO. “She is an expert at scaling companies through the hyper-growth stage and leading them to successful access to the public markets and acquisitions, which makes her a great addition to OYO, as the company moves towards its next phase of growth,” said Oyo in a press release. Having established itself in the Indian and Chinese markets, OYO is now investing heavily in the US market. Atkins joins Oyo’s board which has eminent people like Mark Schwartz, Vice Chairman of Goldman Sachs and Chairman of Goldman Sachs Asia Pacific; Munish Varma of SoftBank Vision Fund; Bejul Somaia ofLightspeed India Partners Advisors; and Mohit Bhatnagar of Sequoia Capital India Advisor on the board of OYO. ‘’OYO, with its unique asset-light business model and strong data capabilities, is creating something entirely new for the more than 3 billion middle-income travellers and city dwellers who need accommodations that meet their standards and also their budgets,” Atkins said.

Yahoo and eBay investor Betsy Atkins joining OYO’s board is a sign of the company’s IPO plans

Satya Nadella-run <keyword id="10387" type="CITY" weightage="20" keywordseo="Microsoft">Microsoft</keyword> is in advanced talks to invest in Airbnb-backed Indian budget hotel chain <keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword> at a valuation of $9 billion, the media reported on Friday. According to a TechCrunch report citing sources, a deal may close soon but the "proposed size of the investment is unclear". Both Microsoft and OYO declined to comment on the reports. The Ritesh Agarwal-run hospitality chain has Airbnb, Chinese ride-hailing giant Didi Chuxing and ride-hailing firm Grab as strategic investors. The news comes after OYO announced earlier this month that it has raised $660 million from global institutional investors as <keyword id="4462417" type="PERSON" weightage="20" keywordseo="tlb">TLB</keyword> (Term Loan B). A company statement had said that the offer was oversubscribed by 1.7 times and the company received commitments of close to $1 billion from leading institutional investors. "We are delighted by the response to OYO's maiden TLB capital raise that was oversubscribed by leading global institutional investors. We are thankful for the trust that they have placed in OYO's mission of creating value for owners and operators of hotels and homes across the globe," said Abhishek Gupta, Group Chief Financial Officer, OYO. The company said it will utilise these funds to retire its past debts, strengthen the balance sheet and other business purposes including investment in product technology, it said. OYO is the first Indian startup to be publicly rated by Moody's and <keyword id="82981" type="CITY" weightage="20" keywordseo="Fitch">Fitch</keyword>, two of the leading international rating agencies. The Microsoft deal "may also involve OYO shifting to use its cloud services," the report mentioned. OYO has aggressively been expanding its operations to several markets including Southeast Asia, Europe and the US in recent years. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tech-mahindra-shares-price-jump-because-management-sees-a-10-plus-growth/articleshow/84882133.cms">Tech Mahindra shares surge as for the first time in over five years the management sees a 10% plus growth</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/cleartax-major-acquisitions-and-hiring-2021-funding-on-the-way/articleshow/84880048.cms">Clear(Tax) has planned major acquisitions and hiring for this year, in talks with investors to raise funds</a>

Microsoft is in advanced talks to invest in OYO at a valuation of $9 billion, say media reports

<ul><li>The Indian hospitality unicorn <keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword>’s founder <keyword id="1670338" type="PERSON" weightage="20" keywordseo="Ritesh-Agarwal">Ritesh Agarwal</keyword> wants to buy back shares worth $1.5 billion, according to reports. </li><li>Agarwal holds 9.43% in the hospitality startup, while SoftBank, the Japanese investment firm, controls 45.69% of the company. </li><li>According to OYO’s clauses, SoftBank cannot take up more than 49.99% in the company without approval from Agarwal and his early investors. </li></ul>In an unprecedented move in the Indian startup ecosystem, OYO founder Ritesh Agarwal is looking to buy back shares worth $1.5 billion according to an <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/oyo-founder-in-talks-to-buy-back-1-5-billion-shares/articleshow/70121644.cms">ET report.</a> The report cited sources to say that the founder is looking buy shares from its early investors like Sequoia and Lightspeed Venture Partners, to have greater control of his company. In an email response, an OYO spokesperson said, “As a company policy, we don’t comment on speculations. We have no further comments.” Agarwal reportedly wants to raise his stake in the firm to over 30%. Currently, Agarwal holds 9.43% in the hospitality startup, while SoftBank, the Japanese investment firm, controls 45.69% of the company. The report further says that the founder is looking to raise $2 billion of secured debt through investors in India, Japan and Europe. Meanwhile, early investor Lightspeed has 13.4% stake, while Sequoia Capital has 10.24%. According to information sourced by paper.vc, Article 21.6 of Oyo’s Articles of Association prohibit Softbank from, directly or indirectly, acquiring more than 49.99% of the fully diluted share capital of the company, without the consent of Ritesh Aggarwal, Greenoaks, Lightspeed and Sequoia Capital. SoftBank has been an investor in OYO since a long time now. It was Softbank's investment that led OYO into the Indian unicorn club with a $5 billion valuation in September 2018, a huge jump from the $900 million valuation it had until then. Reports say that OYO is once again looking at raising funds through debt and primary, secondary transactions, which could take its valuation to over $10 billion. The Indian hospitality unicorn has been spreading its business fast across the world. It recently became China’s largest hotel chain. OYO said that it will invest $300 million to expand its footprint in the United States – into cities like New York, Los Angeles and San Francisco. It already has 50 hotels across 15 states in the US. It recently launched services in Vietnam. The six-year-old startup has much higher ambitions in sight – to become the world’s largest hotel chain, as conveyed by its CEO Aditya Ghosh earlier this <a href="https://www.businessinsider.in/former-indigo-chief-is-aiming-to-make-the-6-year-old-oyo-the-worlds-largest-hotel-chain/articleshow/67536612.cms">year</a>.

The founder of OYO, the Indian unicorn, is so confident that he will buy back $1.5 billion shares

Tech giant <keyword id="10387" type="General" weightage="20" keywordseo="microsoft" source="Orion">Microsoft</keyword> and travel technology platform <keyword id="2808667" type="General" weightage="20" keywordseo="oyo" source="Orion">OYO</keyword> on Thursday announced that they have entered a multi-year strategic alliance to co-develop next generation travel and hospitality products and technologies. OYO will adopt <keyword id="1033762" type="General" weightage="20" keywordseo="Microsoft-Azure" source="Orion">Microsoft Azure</keyword> as a key enabler to drive cloud-based innovations and reimagine the hospitality and travel tech industry. The solutions will be geared to benefit patrons who operate small and medium hotel and home storefronts. Microsoft has also made a strategic equity investment in OYO. "Combining the power of Azure with the tech and product stack developed by OYO, we are looking forward to accelerating innovation in travel and hospitality," Anant Maheshwari, President, Microsoft <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword>, said in a statement. As part of this alliance, OYO will develop Smart Room experiences for travellers on the OYO platform, such as premium and customized in-room experiences for its guests. Using Microsoft's Azure IoT, the experience will include self-check-in supported by a digital register of arrivals and departures and self-Know Your Customer (KYC) along with IoT-managed smart locks and virtual assistance. "We are excited to join hands with Microsoft in our constant endeavour to improve business opportunities for the small and independent hotel and home owners, and to redefine experiences for travellers," said Abhinav Sinha, Global COO and Chief Product Officer - OYO Hotels and Homes. "This alliance with Microsoft will accelerate the deployment of our products in the hands of small businesses we work with, allowing us to create even more impact through an integrated technology ecosystem available on the cloud for businesses in the remotest corners of the world," Sinha added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/ford-motor-to-stop-manufacturing-cars-in-india-4000-employees-may-lose-jobs/articleshow/86065322.cms">Ford Motor to stop manufacturing cars in India; 4,000 employees may lose jobs</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/amazon-vs-future-retail-supreme-court-stays-delhi-high-courts-verdict-enforcement/articleshow/86064426.cms">Amazon Vs Future Retail: Supreme court stays Delhi High Court's verdict enforcement</a>

Microsoft announces strategic investment in OYO

Imagine this! Expanding from 11 hotels in two cities to 7000 hotels in 2000 cities in a little more than three years isn’t an easy task. But Ritesh <keyword id="781" type="PERSON" weightage="20" keywordseo="Agarwal">Agarwal</keyword> of <keyword id="2808667" type="UNKNOWN" weightage="100" keywordseo="OYO">Oyo</keyword> has achieved that. Not just the growth in expansion, revenue has boomed as well. Last year at annual general meeting of the Indian Hotels Company, Cyrus Mistry, the erstwhile Tata chief admitted that going like this Oyo may be a clear ‘threat’ to hospitality space where Tata owns groups like Taj, Vivanta, Gateway and Ginger. Talking to the Economic Times, Agarwal said that Oyo will be closing $250-300 million round of funding from <keyword id="163404" type="COMPANY" weightage="100" keywordseo="Softbank">SoftBank</keyword>, which will take its valuation to over $850 million and a step closer to the unicorn club. At a time when most of the SoftBank’s investments in India are bleeding including <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword>, Ola and Grofers, Japan’s conglomerate is expecting a big gain from India’s hotel aggregator. Agarwal told the ET, that losses are a ‘part of investment’. What investors are looking at is also growth more than profits. They hate high burn rates but they hesitate to fund a profit making company with slow growth rate. While Oyo seems to be the dark horse of SoftBank’s investments in India, it needs to be checked how it fares in the long run. Oyo’s new initiative <keyword id="4100346" type="UNKNOWN" weightage="20" keywordseo="Oyo-Townhouse">Oyo Townhouse</keyword> will cater to the upscale clientele. The Townhouse model, according to ET news report, will call for investment - an estimated Rs 3.5 lakh in each room, with each property having up to 20 rooms - as the company goes about setting up 250 Townhouses over the next six months. However what needs to be seen if customers prefer Oyo Townhouse versus a Sarovar or a Lemon Tree. Agarwal told ET that Oyo has more than doubled its growth. Its burn rate has come down by as much as 60%, customer service rating is at the highest, and losses have come down from Rs 496.31 crore in March-ended 2016 fiscal to Rs 325.26 crore a year later. The venture, he maintains, has found the right momentum, has shunned incentivisation as a long-term, customer-acquisition strategy, and has the backing of its investors.

You Searched For "OYO investment" and got 11 results

Airbnb picks up a stake in its Indian rival Oyo Rooms

Sanchita Dash

Founder Ritesh Agarwal invests Rs 830 crore in OYO's latest funding round; Platform raises Rs 1,457 crore

PTI

OYO partners with Softbank to create a joint venture for its Japan business

Sanchita Dash

OYO is making a march to the top US cities with $300 million and blessings from Softbank and Airbnb

Sanchita Dash

OYO’s Ritesh Agarwal sets a new benchmark – invests $2 billion into his own company to increase his stake

Sanchita Dash

OYO opens a 35,000 sft casino in Las Vegas by rebranding a Hooters hotel

Sanchita Dash

Yahoo and eBay investor Betsy Atkins joining OYO’s board is a sign of the company’s IPO plans

Sanchita Dash

Microsoft is in advanced talks to invest in OYO at a valuation of $9 billion, say media reports

IANS

The founder of OYO, the Indian unicorn, is so confident that he will buy back $1.5 billion shares

Sanchita Dash

Microsoft announces strategic investment in OYO

IANS

This is how Oyo is becoming the dark horse of SoftBank’s investments

BI India Bureau

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