Page 6 - Oyo

Oyo files fresh docs with Sebi for IPO in early 2023 as growth resumes

Oyo, formally known as Oravel Stays Ltd., is internally working toward a January IPO as executives are encouraged by a pick-up in demand

India edges out China in creating new unicorns in H1CY22: Hurun report

As many as 147 unicorns worldwide saw their valuations drop in the last six months

Big tech under Parliamentary panel lens for alleged anti-competition play

Top execs of Indian arms of Apple, Google, Amazon, Netflix and Microsoft quizzed about impact of their business models on small players.

OYO acquires Denmark-based holiday home operator Bornholmske Feriehuse

Travel and hospitality technology platform OYO on Tuesday said it has acquired Denmark-based holiday home operator Bornholmske Feriehuse for an undisclosed sum. Based out of Bornholm island in Denmark, Bornholmske Feriehuse has 737 holiday homes spread over 30 holiday parks on its platform and expects to clock more than 2.5 lakh guest nights in 2022, OYO said in a statement. The transaction has been carried out by the company's subsidiary DanCenter through the 'Invest in Denmark' initiative by the Danish government that provides customised one-stop service to foreign firms looking to set up or expand a business in the country, it added. "Bornholm exhibits great potential for tourism in the coming years," OYO founder and Group CEO Ritesh Agarwal said. Founded in 2002 by Rasmus Lund and Jacob Lund, Bornholmske Feriehuse is a full stack operator providing end-to-end solutions to homeowners. Rasmus Lund will continue as director of Bornholmske Feriehuse and will grow operations furthe

Parl panel summons Paytm's Vijay Shekhar Sharma, Oyo's Ritesh Agarwal

BJP leader and former Union minister Jayant Sinha-chaired Parliamentary Standing Committee on Finance has been looking into various aspects of competition in the marketplace

Quality standards for gig, shared economy players soon: top govt officials

Indian Bureau of Standards also mulling adoption of ISO benchmarks; need for standardisation also arises from increasing number of complaints received by consumer affairs ministry lately

Construction industry leads as business travel remains strong: OYO survey

Delhi has topped of the most preferred destinations for business travel, closely followed by Bangalore, Mumbai, and Hyderabad

World MSME Day: Oyo announces special 60% discount for small businesses

Approx 2,000 properties across the country will be covered under this scheme

At 1.27 lakh, OYO sees highest daily bookings in May as travel surge builds

Yatra, Booking.com, Ixigo also see biz uptick as travel picks up post-Omicron

Varanasi, Tirupati, Puri among top pilgrimage destinations in India: OYO

Varanasi, Tirupati, Puri, Amritsar and Shirdi have emerged as the top pilgrimage destinations, according to a report by travel tech firm OYO. The report titled 'India's Treasure Trove of Cultural Travel 2022' said with over 3.5 times growth over the past year, Srinagar clocked the highest growth in bookings among cultural destinations in 2022. Besides Srinagar, Pahalgam and Jammu in J&K also ranked among the top cultural destinations in India, the report released on Monday said. As per OYO's booking data analysed between January to April 2022, Srinagar, Pahalgam, Bodhgaya, Shirdi and Jammu are among India's top five cultural destinations in order of ranking. "Varanasi, seen by many as the spiritual hub, tops the chart as the most popular pilgrimage destination in India in 2022. This is followed by Tirupati, Puri, Amritsar and Shirdi. Besides this, OYO's Mid-Summer Vacation Index also highlights keen consumer interest in visiting Vaishno Devi this summer," it said. As per the ...

Fitch downgrades OYO's ratings over uncertainty in making profit

Rating agency expects the company's FY23 revenue to increase by around 30%, lower than its forecast.

Biz travel sees revival as OYO adds 1,250 new corporate clients since Mar

Small and medium businesses continue to contribute significantly to the business travel bookings as more and more people from this segment opt for physical interactions

OYO plans IPO after September, may settle for lower valuation: Report

OYO's move to launch the IPO after the September quarter is mainly driven by the expectation of improvement in its financial performance and the current volatile nature of the market

All the world's a stage for unicorns

In 2021, when the buzz is around start-ups going for IPOs and celebration of Indian entrepreneurship, it's also time to acknowledge the role of global players in the journey to stardom

Hotel and restaurant body asks Sebi to axe Oyo's IPO citing massive losses

The FHRAI on Wednesday urged SEBI to call off online hospitality major Oyo's initial public offering (IPO), citing the massive losses suffered by the hotel rooms aggregator in recent years

OYO completes acquisition of Europe-based company Direct Booker

Direct Booker has over 3,200 homes and serviced 2 million customers so far, OYO said in a statement

Valuations are temporary, values are forever: OYO CEO Ritesh Agarwal

Startup founders should remember that valuations are temporary and values are forever, and they must focus on doing good and stay grounded, travel and hospitality technology platform OYO's Founder and Group CEO Ritesh Agarwal said on Monday. Commenting on India crossing the 100 unicorns mark, in a post on Twitter, he said it is "not just a milestone but a stepping stone that lays the path for the next 1,000 unicorns." Retweeting his video message posted by Startup India, Agarwal said, "I am bullish on Indian entrepreneurs taking the world by storm. Founders should remember that valuations are temporary, values are forever. Focus on doing good & stay grounded." In the video message, he said it seems like India is not walking anymore when only one or two unicorns were added a year. "We are now sprinting towards glory to make India the largest entrepreneurial ecosystem in the world," he said. He listed out the presence of entrepreneurs and markets in Tier II, III and IV towns in ...

OYO completes acquisition of Europe-based Direct Booker for $5.5 mn

OYO acquire Europe-based Direct Booker. OYO has in the recent past declared its intent of actively scouting for 'tuck-in' acquisitions, especially in the European market as a strategic growth lever

India's small towns hotbeds of entrepreneurship: OYO chief Ritesh Agarwal

"The new young India that is building their businesses, is aspiring to build sizable world champions in the consumer segments that they operate," Agarwal said

OYO hits weekend with over 300K bookings; surpasses New Year's bookings

OYO also observed a 134 per cent jump in weekend vs weekday bookings during the festive weekend in 2022 vs 111 per cent in 2019.