:
Microsoft invests $5m in OYO at $9bn valuation
Reading Time: 2 minutesIndia: SoftBank-backed hospitality chain OYO has received $5 million in investment from global tech corporation Microsoft, according to a regulatory filing, in the lead-up to the company’s proposed initial public offering [IPO]. The funding in the hotel aggregator was already rumoured last month, and it is believed that Microsoft currently values OYO at around $9 […]
OYO rumoured to be edging towards $1.2bn IPO
Reading Time: 2 minutesIndia: SoftBank-backed hospitality chain OYO is rumoured to be edging towards an initial public offering [IPO] after hiring JP Morgan, Kotak Mahindra Capital and Citi for an initial $1.2 billion share sale. Financial news website Moneycontrol reports that work on the IPO is already underway and the startup is considering debuting on the domestic public […]
Microsoft in talks to invest in OYO ahead of IPO
Reading Time: 2 minutesIndia: Global tech corporation Microsoft is in advanced talks to invest strategically in hospitality chain OYO ahead of a proposed IPO for the Indian startup. It is believed that Microsoft would value OYO at around $9 billion, a valuation which has fluctuated between $10 billion and $3 billion over the last two years, and an agreement […]
OYO secures $660m loan after “strong” investor interest
Reading Time: 2 minutesIndia: Softbank-backed hospitality chain OYO has secured a $660 million loan from global institutional investors, claiming that the offer was oversubscribed by 1.7 times. The deal came in the form of a Term Loan B [TLB], or institutional term loan, including nominal repayment over five to eight years, and was arranged predominantly by JP Morgan, Deutsche Bank, and Mizuho […]
Airbnb and OYO join forces for new industry organisation
Reading Time: < 1 minuteIndia: Travel brands Airbnb, EaseMyTrip, OYO and Yatra have joined forces to form a new industry association in India to help small companies and travel and hospitality technology players. The Confederation of Hospitality, Technology and Tourism Industry [CHATT] has been created to promote domestic travel in India, aid digital transformation, act as a thought leader […]
OYO announces leadership team reshuffle
Reading Time: 2 minutesIndia: SoftBank-backed hospitality chain OYO Hotels and Homes has announced a reshuffle in its leadership team, including appointments and promotions in verticals such as technology, supply and product. Leading the way is the appointment of Ankit Mathuria has been appointed as the startup’s new CTO, succeeding Anil Goel in the process. Mathuria brings more than […]
Söderström to invest in OYO and join Vacation Homes board
Reading Time: 4 minutesNew Delhi: OYO and its European business of OYO Vacation Homes [OVH] have announced that Martin HP Söderström has joined the company’s board in the region as a non-executive director. As a mark of his trust and commitment towards the company, Söderström will also be buying shares worth an undisclosed amount in the parent company. Belvilla, […]
OYO plans expansion into Egypt
Reading Time: < 1 minuteEgypt: OYO Hotels & Homes has set its sight on the Egyptian market, following expansions into the UAE and Saudi Arabia. OYO has reportedly been speaking with local hospitality professionals to determine their final steps. The company is aiming to take advantage of the Egyptian market during a period of post-pandemic freeze for hospitality. It […]
OYO launches homestays in Gujarat
Reading Time: 2 minutesIndia: OYO has announced the expansion of its OYO homes brand into Kevadia, Gujarat, in line with the company’s mandate to expand in the region. It has currently opened four home-stays in the district, with plans to open over 20 by the end of the year. The shift is a part of endeavours by the […]
OYO promotes four new executives
Reading Time: 2 minutesIndia: OYO Hotels and Homes has announced it has promoted four employees to key executive positions. The four employees have all been given C-suite positions in various different segments of the company. The highest-profile promotion is the elevation of Ankit Gupta from the COO of frontier and workspaces to CEO of the division. This means […]