What It Does: OYO is a global platform that empowers entrepreneurs and small businesses with hotels and homes by providing full-stack technology that increases earnings.
Staff Stats: 8000 employees
Financials: $951 million
In 2012, Ritesh Agarwal launched Oravel Stays to enable listing and booking of budget accommodations; he renamed the firm OYO in 2013.
OYO partners with hotels to give similar guest experiences across cities. Shortly after launching Oravel Stays, Ritesh Agarwal received a grant of $100,000 as part of the Theil Fellowship a two-year program from PayPal co-founder Peter Thiel. OYO currently has over 17,000 employees globally, of which approximately 8000 are in India and South Asia.
OYO Hotels & Homes is a full-fledged hotel chain that leases and franchises assets. The company invests in CAPEX, hires GMs to oversee operations and customer experience as well as generating around a million job opportunities in India and South Asia alone. OYO has also set up 26 training institutes for hospitality enthusiasts across India.
In April 2021, it was claimed by several news reports and social media posts that OYO had filed for bankruptcy, but CEO Ritesh Agarwal clarified it to be untrue. However, he admitted that the National Company Law Appellate Tribunal (NCLAT) initiated an insolvency resolution process on OYO Hotels on the basis of a hotelier's petition over a monetary dispute with the company.
In September 2018, OYO raised $1 billion, of which the RoC filing for the amount of $100 million raised from Star Virtue Investment Ltd. was made on 13 February 2019.
In February 2019, OYO received $100 million funding from the Chinese vehicle for hire company Didi Chuxing
In July 2019, Founder & CEO Ritesh Agarwal, through RA Hospitality Holdings (Cayman), signed a $2 billion deal to buy back shares from existing investors Lightspeed Venture Partners and Sequoia India, to increase his stake in the company to 30%. The company was valued at $10 billion with this deal.
In July 2021, OYO closed a debt financing round of $660 million from global institutional investors to service existing loans.
In July 2021, Microsoft looks to invest in Oyo before potential IPO.
In March 2016, OYO acquired the team of Qlik Pass, founded by Rahul Gupta & Rishi Swami to set up and lead its Data Science Department.
In May 2019, OYO announced the acquisition of Amsterdam-based @Leisure Group, Europe's largest vacation rental company.
In 2019, OYO rooms planned to implement a digital register mechanism that will allow it to share customer data in real-time with the government. This was described as a threat to privacy.
OYO is a global platform that empowers entrepreneurs and small businesses with hotels and homes by providing full-stack technology that increases earnings and eases operations. Bringing affordable and trusted accommodation that guests can book instantly.
OYO Rooms conducts 5-6 rounds to select freshers -
Written Round.
Technical Round 1.
Technical Round 2.
Technical Round 3.
Technical Round 4.
HR Round.
Health & Wellness
Financial & Retirement
Family & Parenting
Vacation & Time Off
(LwLB) Plan