OYO Rooms which is also known as On Your Own is a one of the largest hotel networking which provide online hotel booking services to customers.
It founded by Ritesh Agarwal in 2013 at Gurgaon, Haryana, India.
It provide a platform for hotels as well as customers who need rooms in hotels.
OYO work as a intermediate platforms for hotels as well as for hotels. The owners of hotels and restaurants list their hotels and restaurants to OYO platform.
Customers who need a room can directly search for available hotels and restaurants on OYO and also can directly book them by using this platform.
The foundation of OYO was a struggle story of Ritesh Agarwal.
Ritesh Agarwal is a name of Indian entrepreneur who find out a problem in Indian Hotels that he never find a room at any hotel when required or if found, then the situation of such founded rooms was not as expected.
So that's why Ritesh Agarwal decided to start a platform which can overcome such problem and no one can now face such problems. It known as a one of the largest Proptech - Hotel Booking in India.
OYO make room booking more easier than before. According to the official website of OYO Rooms, I see that it have 1,74,000 hotels listed around 35+ countries.
OYO become of the largest Indian startup which become a unicorn of India with the highest entry valuation.
It means OYO become unicorn of India after 5 years later of its foundation in the month of September, 2018.
At the time when it achieve unicorn status its entry valuation reached up to 4.9 billions dollars.
Also due to its working model the profits of OYO Rooms is also increased year by year.
Lightspeed Ventures, Sequoia Capital, SoftBank are some names of the largest investors of OYO.
According to Venture Intelligence the last rounded investment valuation of OYO reached up to 9.6 billion dollars.
The Oyo parent, Oravel Stays Ltd, is reported to add SoftBank Sumer Juneja to its board. Sumer Juneja, the managing partner and head of EMEA & India Investing at SoftBank Vision Fund, expected to join as a non-executive director. This appointment, however, is subject to shareholders’ approval at an extraordinary general meeting (EGM). The Potential […]
Recently to expand its premium hospitality offerings, OYO Unveils First Luxury Hotel in Dubai under the brand ‘Palette’. This initiative is poised to capitalize on the burgeoning influx of Indian tourists flocking to Dubai. It’s aiming to cater to their discerning tastes and preferences. Introduction to OYO’s New Luxury Venture OYO’s latest addition, the debut […]
The news in trend that OYO Secures INR 417 Cr. And company reported that a large portion of this funding will be used in business operations expansion. In a strategic move, OYO, the global hospitality chain, has received resounding approval from its shareholders. This pivotal decision paves the way for the company to raise INR […]