Oyo, one of the larger startups in Softbank’s portfolio, was recently valued at $10 billion, but business has been crushed by the pandemic while operational missteps soured hotel partnerships.
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.
OYO founder Ritesh Agarwal was just 18 when he came up with the idea. Within just a few years, OYO surpassed the valuation of India’s oldest hotel company.
Byju’s is raising funds at $8 billion valuation & overtakes Snapdeal. It is the only one of the top three that hasn’t taken funding from SoftBank or its Vision Fund.
Finance ministry says the proposed revamp will focus on structural reforms, rate rationalisation & ease of living, & will be deliberated upon in the coming weeks.
The project is meant to be a ‘protective shield that will keep expanding’, the PM said. It is on the lines of the ‘Golden Dome’ announced by Trump, it is learnt.
Now that both IAF and PAF have made formal claims of having shot down the other’s aircraft in the 87-hour war in May, we can ask a larger question: do such numbers really matter?
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