Oyo Rooms | Oyo Wiki.

Oyo Rooms is an Indian multinational OTA platform for homes and living spaces. It was founded in 2013 by Ritesh Agrawal, headquartered in Gurgaon, India. The startup expanded domestically as well as globally with thousands of hotels, vacation homes, and millions of rooms in more than 80 countries including India, UAE, China, the UK, Japan, Mexico, Brazil, the United States, and many others.

History

Oyo Rooms was founded in 2013 and opened the first Oyo with Rajesh Yadav at C68 South City 1, Gurgaon. It launched the oyorooms.com website for customers’ convenience.

2015- The startup has launched its Oyo app for Android and iOS. Oyo has expanded its operations in 100 cities and crossed the 10000 rooms mark in the year.

2016- In 2016, Oyo expanded its business to Malaysia, which was the first region outside India. After that, Oyo introduced dynamic pricing to capitalize on seasonality, demand surges, and special events.

2017- Oyo launched a Townhouse service for discerning travelers

2018- In 2018, Oyo Rooms expanded, and its business outside the country such as the UK, China, and Indonesia. The startup has launched Oyo Os for property managers and dealers to ensure Hassel free Operations.

2019- In 2019, Oyo has operational in the US, Europe, and Middle East countries. They also acquired @leisure Group to enter the vacation homes business across 40 countries.

2020- The Oyo Rooms app has crossed 50 million downloads globally. It’s also started sanitizing stays for a safety protocol for all its hotels and homes after the provide 19 pandemics happen all over the world. 2021- The company has launched OTA powerplay subscription products and it also shows the vaccine aid, a feature that shows the vaccination status of the hotel’s staff on the Oyo app. The Oyo app crossed the 100 million downloads mark.

Products and services

The Oyo rooms offer staying services to businesses person, travelers, students, employees, etc. 

Oyo Townhouse- Promoted as a neighborhood hotel is in the midscale segments targeted at millennial travelers.

Oyo Homes- Homes management system offers homes in different locations and is fully managed by Oyo.

Silver Key- offers rooms to corporate travelers undertaking business trips for a short or long duration.

Capital O- Offers hotel booking services

Collection O- offers to book and rent services to business travelers.

Oyo Life- It is Targeted young professionals in search of fully managed homes on long-term rentals at affordable prices.

Yo! Help- It’s a helpful tool that offers support for check-in, check-out, and payment options.

Funding Raised

In September 2018, Oyo Rooms raised $ 1 billion through a Series E funding round from Soft vision fund, Star Virtues investment.

In Feb 2019, The startup received $ 100 million dollar funding from the Chinese vehicle-for-hire company didi chuxing.

In Oct 2019, Oyo Rooms raised another series F funding round of $ 1.5 billion led by Softbank group, Lightspeed venture partners, and Sequoia Capital India.

In July 2021, the startup closed a debt financing round of $ 660 million from global institutional investors to existing loans, Also in the same months, Microsoft show their interest to invest in Oyo rooms before its IPO, and the deal was signed in September 2021.

IPO Details

The hotel booking start-up Oyo filed a draft paper with the security exchange board of India (SEBI) on 30 Sep 2021. It’s planning to raise Rs 8430 Cr from an initial public offering and IPO comprises a fresh issue of equity shares aggregating up to Rs 7000 Cr and an offer for sale of Rs 1430 Cr.

Updates

Oyo Rooms hits back at Zostel, says no restriction imposed on the company from changing its shareholding pattern, no stay granted by Delhi HC on proposed offer (ET).

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