OYO, India headquartered global travel technology company announced the elevation of Shreerang Godbole as the Chief Service Officer and Shirish Damani as the company’s Chief Revenue Officer. These appointments are in line with OYO’s efforts to optimize its service technology, improve and scale customer experience and help its patrons (hotel owners) build branded, digitally-enabled storefronts with higher revenue generation potential, the statement […]
Tag: Ritesh Agarwal
Global hospitality technology platform, OYO, has announced the appointment of Satyadeep Mishra as the Chief Human Resources Officer for its Technology, Product, Shared Services and International Markets teams. Satyadeep joins OYO from Jio and brings with him 20+ years of experience in co-creation and execution of people strategy and a track record of end-to-end HR programs […]
Global hospitality tech player, Oravel Stays Limited (OYO) announced the appointment of Deepa Malik, an Indian Athlete and a silver-medalist at the 2016 Paralympic Games, as an independent director on the company’s board of directors as on 26th September 2021. Dr. Malik is currently the President of the Paralympic Committee of India (PCI). Welcoming its […]
Investment platform Stockal has recently announced that it has raised $3 million in Aroa Ventures led funding round. “The pre-series A round saw participation from Aroa Ventures (OYO founder Ritesh Agarwal’s family office), Cadenza Capital Management, Kristal.ai, Tracxn Labs, July Ventures, and Credence Family Office,”a statement made by the company informed. “Stockal will use the […]
Softbank-backed hospitality firm Oyo has raised Rs 54 crore from Hindustan Media Ventures as part of Series F1 round, according to a regulatory filing by the company. Hindustan Media Ventures Ltd subscribed to 125 Series F1 Compulsory Convertible Cumulative Preference Shares (Series F1 CCCPS) of the face value of Rs 100 each for cash at […]
Oyo announced that Mohit Bhatnagar has resigned as Director, effective June 30, 2020, according to the company’s regulatory filings. His resignation was accepted at the company’s board meeting held on September 24. Mohit will now hold a board observer position at the company. Oyo added that Bejul Somaia, partner at Lightspeed India Partners, will continue […]
OYO Hotels & Homes, the fastest-growing and second-largest hotel chain in the world, announced the appointment of Anuj Tejpal as the Global Chief Commercial Officer, effective September 1, 2020. Anuj will be reporting directly to Ritesh Agarwal, Founder and Group CEO, OYO Hotels & Homes. In his new role, Anuj will work with regional CEOs […]
The hospitality sector is one of the most affected by the ongoing coronavirus pandemic. With travel of any kind coming to a halt and governments imposing lockdowns, companies in the sector are bracing for severe impact. Recently, there has been multiple reports about layoffs and furloughs in the industry by the companies to save cost. […]
COVID-19 has impacted the global hospitality industry significantly with occupancies of various hotel chains being affected drastically. Many Indian startups in the segment are slashing salaries across levels to conserve cash and extend their runway. Indian hospitality unicorn OYO Hotels & Homes is no different than these startups affected by the pandemic. The Ritesh Agarwal-led […]
Indian hospitality unicorn OYO Hotels and Homes is reportedly cutting down its global workforce by about 5,000 to 25,000 people. The biggest downsizing will be from the company’s China business after business there is struggling in the wake of the novel coronavirus outbreak. According to a Bloomberg report, the Indian startup, which is one of […]
Kemp, the leader in powering always-on application experience [AX], announced it has acquired Lithops Technologies, a top developer of application networking and network security solutions and services based in New Delhi, India. The acquisition will further fuel the development of Kemp load balancer and AX products, while accelerating the company’s business development efforts across India. […]
In an attempt to control losses and turn the business sustainable, it is observed that OYO will lay off 140 employees from its food business. These firings come after OYO last week announced the laying off of thousands of employees from its hotel business. OYO is undergoing restructuring and this has taken a toll on […]
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‘Trouble in Paradise’ for OYO
It doesn’t seem that their troubles are getting over soon. In the past few months, OYO has managed to gather a different spotlight on itself with a New York Times report on its toxic work-culture, IT raids at their Gurugram headquarters and death of a sportsperson in one of their properties last year. Adding to troubles, came the firing of thousands of its employees from China and India business.
In a recent leadership reshuffle, Oyo Hotels and Homes has elevated their South Asia and India CEO Aditya Ghosh to its board. Rohit Kapoor, currently the CEO of their new real estate business Oyo LIfe, will be taking over Ghosh’s position. Ghosh’s elevation comes exactly a year after he joined the hospitality aggregator. He had […]
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OYO on way to raise USD 1.5 billion.
India’s leading Hospitality unicorn OYO Hotels and Homes is on way to raise USD 1.5 billion in its latest latest round of funding. This round will be directed at its expansion in the US and towards strengthening its vacation rentals business in Europe. The Series-F funding will involve an infusion of approx. USD 700 million […]