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If you have been around in your city any time recently, more likely than not, you would have spotted an OYO Rooms board. OYO is a branded network of hotels and is one of the fastest growing startups in India.
Founded by Ritesh Agarwal (aged 19 years then) in 2012, OYO claims to be India’s largest branded network of hotels spread across 152 cities with more than 3000 hotels. Oravel Stays Private Limited, which owns and operates OYO Rooms, reported a turnover of INR 2.4 Crores in FY 2014-15, growing from a turnover of INR 51 lacs in the previous fiscal.
However, at the time, OYO appeared to have been present only in 10 cities with 200 hotels. They have seen a phase of exponential expansion in FY15-16 with two major funding rounds this year (OYO raised $100mn led by Softbank). More details are awaited on OYO’s financials and will be updated soon.
OYO’s Shareholding Structure
With the latest funding round from Softbank Group in August 2015, OYO’s current shareholding looks like this:
|Lightspeed Venture Partners||19%|
|DSG Consumer Partners||4%|
With one of the youngest CEOs at its helm, OYO surely has managed to disrupt the hospitality sector in India so far. Going ahead, it’s going to be a tough battle with competitors like Zo Rooms and a number of others fighting it out.
[About the author: Vishal and Anchal form the team that runs the Tofler blog. They like to explore and track companies, their performance and senior management. Tofler (tofler.in) is a Business Research Platform.]