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OYO to lay off 600 employees in pre-IPO restructuring
Reading Time: 2 minutesIndia: Hospitality chain OYO has announced that it will lay off around 600 employees across its product and engineering teams, affecting close to ten per cent of the company’s 3700-strong employee base worldwide.
OYO steps up plans to resurrect IPO in early 2023
Reading Time: 2 minutesIndia: Hospitality chain OYO is reportedly ready to resurrect its plans to debut on the stock market through an initial public offering [IPO] by as early as January 2023.
OYO purchases Bornholmske Feriehuse in Denmark
Reading Time: 3 minutesDenmark: OYO Vacation Homes has acquired Nordic-based holiday home operator Bornholmske Feriehuse through its subsidiary Danish rental brand DanCenter.
OYO puts IPO plans on hold until at least September
Reading Time: 2 minutesIndia: Hospitality unicorn OYO is said to be putting its IPO plans on hold to until at least September in a bid to ride out the volatility of the pandemic-affected markets.
OYO targets $9bn valuation before imminent IPO
Reading Time: 2 minutesIndia: Hospitality chain OYO has reportedly set a target valuation of $9 billion for its upcoming initial public offering [IPO].
OYO Vacation Homes appoints Matthews as board member
Reading Time: 2 minutesWorldwide: James Matthews, CEO and co-founder of Eden Rock Group, has joined travel technology company OYO as a non-executive director for the company’s vacation homes business. Alongside the management of investment firm Eden Rock Group, Matthews is also a shareholder of Eden Rock Hotel in St Barths and a board member of Sheffield Business Park […]
OYO set to file for $1.2bn IPO next week
Reading Time: 2 minutesIndia: SoftBank-backed hospitality startup OYO is preparing to file for its long-awaited initial public offering [IPO] as soon as next week, as well as to raise between $1-1.2 billion in the process, according to reports. It is believed that the budget hotel aggregator – which also operates vacation rental brand OYO Vacation Homes – is […]
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 […]