Friday, 21 January, 2022
TopicOyo Hotels

Topic: Oyo Hotels

‘Absolutely untrue’ – Oyo’s Ritesh Agarwarl denies bankruptcy claim after Rs 16 lakh claim

Oyo, one of the larger startups in the SoftBank Group’s portfolio, was struggling to restructure and whittle down loss-making operations even before the pandemic obliterated travel.

Ritesh Agarwal’s Oyo sends thousands of workers outside India on leave without pay

Oyo hasn’t yet determined the precise number of workers to be furloughed because it is sorting through local labour laws in various countries.

Kashmiri student alleges OYO Room in Delhi didn’t let him check-in because of his identity

Manager at OYO Aasha Residency hotel admits it is turning away customers from Jammu and Kashmir but blamed it on “verbal orders” of Delhi Police. 

Oyo raises $1.5 billion at $10 billion valuation from founder Ritesh Agarwal, SoftBank

Oyo founder 25-year-old Ritesh Agarwal will spend $700 million to buy new shares as a part of a $2 billion plan to triple his ownership stake.

Oyo founder Ritesh Agarwal to invest $2 billion to increase stake in company

The 25-year-old founder will buy shares from existing investors Lightspeed Venture Partners and Sequoia India, which will remain backers.

Ritesh Agarwal’s Oyo to invest $300 million to expand in US

Ritesh Agarwal’s Oyo is adding hotels at the pace of one a day in the US, and aims to expand the offerings at five times that rate by the end of 2019.

Meet the 24 year old who built a $5 billion hotel startup in five years

Ritesh Agarwal model combines a reservation site with a full stack of services for small hoteliers who want to up their game.

24-year-old founder of Oyo Hotels raises $1 billion to expand overseas business

Oyo has expanded beyond India into China, Malaysia, Nepal and Britain in the last 2 years.

On Camera

YourTurn

How Facebook and Amazon rely on an invisible workforce

The market for on-demand, digital tasks is estimated by the World Bank to be worth $25 billion, with Meta Platforms, Amazon, YouTube as some of the biggest buyers.
Representational image of a jewellery store | ANI

India Jewellery Park to be set up in Mumbai, aims to attract Rs 20,000 crore investment

The Gem & Jewellery Export Promotion Council and Maharashtra Industrial Development Corporation have signed a draft agreement granting possession of a plot for setting up the park.

Defence

Foreign secretary Harsh Vardhan Shringla meets German Navy chief Vice Admiral Kay-Achim Schönbach on 20 January. | Twitter | @MEAIndia

New chapter in ties as Indian foreign secy meets Germany navy chief, warship ‘Bayern’ visits

With Germany identifying India as one of the key partners in its Indo-Pacific policy, a German frigate entered Indian waters for a port call in Mumbai, in a major signal to China.
Illustration by Soham Sen | ThePrint

Read my lips, I’m hurting, says Pakistan’s National Security Policy. What it means for India

The new policy is mostly chaff, but it reveals the most inward-looking Pakistan in 3 decades. It needs breathing space, and is realising loss of stature and friendship with US.
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