Newsbytes
  • India
  • Business
  • World
  • Politics
  • Sports
  • Science
  • Entertainment
  • Auto
  • Lifestyle
  • Inspirational
  • Career
  • Bengaluru
  • Delhi
  • Mumbai
  • Videos
  • Find Cricket Statistics
Hindi
More
Newsbytes
Hindi
Newsbytes
User Placeholder

Hi,

Logout


India
Business
World
Politics
Sports
Science
Entertainment
Auto
Lifestyle
Inspirational
Career
Bengaluru
Delhi
Mumbai
Videos
Find Cricket Statistics

More Links
  • Videos

Download Android App

Follow us on
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
 
Home / News / Business News / OYO Rooms acquires $250 million from SoftBank, others
  • Business

    OYO Rooms acquires $250 million from SoftBank, others

    Written by
    Sripriya Yegneswaran
    Edited by
    Vaneet Randhawa
    Last updated on Apr 27, 2017, 09:22 am
    OYO Rooms acquires $250 million from SoftBank, others
  • According to a media report, OYO Rooms, a budget hotels marketplace operated by Oravel Stays Pvt. Ltd closed a $250 million fundraising round led by existing investor SoftBank Group.

    SoftBank Vision Fund, which was recently launched, is expected to fund OYO with $225 million.

    Post this round of funding, OYO's valuation stands at $850 million.

  • In this article
    Oravel gives rise to OYO Agarwal sold sim-cards to earn money Introducing OYO Rooms Agarwal bags the Thiel Fellowship OYO Rooms receives Rs.125 crore funding SoftBank leads investment for OYO Rooms OYO forays into south-east Asia OYO gets backing of $100 million from SoftBank and others SoftBank invests $62 million in OYO OYO Rooms acquires $250 million from SoftBank, others
  • 2012

    Oravel gives rise to OYO

    Oravel gives rise to OYO
  • Oravel, a platform for rentals of private rooms and service apartments was founded in 2012 by Ritesh Agarwal. This later gave rise to the OYO Rooms model of hotel networks.

    Agarwal floated Oravel when he was just 18 years old.

    Later in June 2014, the growing popularity of OYO led to Oravel being pulled down. This signalled that focus was shifted to OYO exclusively.

  • Do you know?

    Agarwal sold sim-cards to earn money

  • Ritesh Agarwal decided to skip his engineering college entrance exams and left his home in Odisha to make a fortune. He even sold sim-cards in his hometown to make some pocket money.

  • May 2013

    Introducing OYO Rooms

    Introducing OYO Rooms
  • Own Your Own Rooms, popularized as OYO rooms, is a technology based hotel booking platform from Gurgaon.

    This was initiated by Ritesh Agarwal in early 2013 with a single hotel under its network. It received its first funding from VentureNursery.

    OYO essentially 'adopts' falling hotels and enhances aspects like security, pricing and quality. Later, OYO sells the rooms under its brand.

  • Do you know?

    Agarwal bags the Thiel Fellowship

  • Ritesh Agarwal became the first Asian resident to win the Peter Thiel fellowship. The fellowship is a two-year program that confers $100,000 and mentorship under the foundation's list of tech entrepreneurs and scientists.

  • 25 Mar 2015

    OYO Rooms receives Rs.125 crore funding

    OYO Rooms receives Rs.125 crore funding
  • OYO received Rs.125 crore funding led by San Francisco-based Greenoaks Capital. In addition, the then current investors Lightspeed and Sequoia Capital too contributed in the funding.

    OYO also offered its services to over 1,00,000 customers and recorded 45,000 room-nights in February 2015.

    An infringement of trademark spat occurred between Stayzilla and OYO. OYO however, claimed that it did not compete with Stayzilla.

  • 3 Aug 2015

    SoftBank leads investment for OYO Rooms

    SoftBank leads investment for OYO Rooms
  • SoftBank, the Japanese corporation, has decided to invest in OYO Rooms with a Rs.630 crore funding.

    The deal was also participated by Lightspeed Venture Partners, Sequoia Capital India and Greenoaks Capital, the existing venture partners.

    This funding will be used to enhance the size of the venture to 50,000 rooms and also to make a presence in about 100 cities by this year.

  • 12 Jan 2016

    OYO forays into south-east Asia

    OYO forays into south-east Asia
    Credits:
  • OYO Rooms announced its expansion to south-east Asia with the launch of its operations in Malaysia.

    CEO, OYO Rooms Ritesh Agarwal said, "Malaysia is our first port-of-call given the attractive characteristics of the market such as higher-than-average mobile penetration" and large internet population.

    He said he was sure OYO business model will fit perfectly in this region.

  • 11 Apr 2016

    OYO gets backing of $100 million from SoftBank and others

    OYO gets backing of $100 million from SoftBank and others
  • OYO Rooms raised a capital of $100 million in the latest round of funding led by SoftBank.

    Existing investors like Sequoia Capital, Lightspeed Venture Partners, Greenoaks Capital, DSG Consumer Partners and Venture Nursery also participated in the round.

    A source privy to the deal confirmed that "the term sheet has been signed and the company is looking at expanding its operations domestically."

  • 17 Aug 2016

    SoftBank invests $62 million in OYO

    SoftBank invests $62 million in OYO
    Credits:
  • OYO raised over $62 million in a new round of funding led by existing SoftBank Group Corp.

    However, its other investors did not participate in this round.

    Sources reveal that this is part of a 2 tier investment. This was the first part.

    Another $29 million will be invested in a mix of equity and debt led by SoftBank.

  • 27 Apr 2017

    OYO Rooms acquires $250 million from SoftBank, others

    OYO Rooms acquires $250 million from SoftBank, others
  • According to a media report, OYO Rooms, a budget hotels marketplace operated by Oravel Stays Pvt. Ltd closed a $250 million fundraising round led by existing investor SoftBank Group.

    SoftBank Vision Fund, which was recently launched, is expected to fund OYO with $225 million.

    Post this round of funding, OYO's valuation stands at $850 million.

  • India
  • SoftBank
  • OYO Rooms
  • Indian Startups
  •  
Latest News
  • PM will chair committee formed to mark 75-years of freedom
    PM will chair committee formed to mark 75-years of freedom
    India
  • SL beat WI in 2nd T20I, level series: Records broken
    SL beat WI in 2nd T20I, level series: Records broken
    Sports
  • Remove PM Modi's photo from coronavirus vaccination certificates: EC
    Remove PM Modi's photo from coronavirus vaccination certificates: EC
    Politics
  • Coronavirus: India's tally reaches 11.19 million with 18K+ new cases
    Coronavirus: India's tally reaches 11.19 million with 18K+ new cases
    India
  • Harry, Markle speak about Diana in latest Oprah interview teaser
    Harry, Markle speak about Diana in latest Oprah interview teaser
    Entertainment
Related Timelines
  • COVID-19 effect: OYO extends employee furlough by another six months
    COVID-19 effect: OYO extends employee furlough by another six months
    Business
Trending Topics
Bharti Airtel Mukesh Ambani WhatsApp Reliance Jio OPPO Isha Ambani
Next News Article
Share
Cancel

Want to share it with your friends too?

Facebook Whatsapp Twitter Linkedin
Copied

Love Business news?

Subscribe to stay updated.

Business Thumbnail
India News Business News World News Politics News Sports News Science News Entertainment News Auto News Lifestyle News Inspirational News
Career News Bengaluru News Delhi News Mumbai News Bharti Airtel Mukesh Ambani Twitter Indian Premier League Samsung Virat Kohli
Rohit Sharma Cricket News YouTube Hollywood News WhatsApp Bollywood News ISRO Yoga Honda Batman
Football News BMW Vaccine Reliance Jio OPPO Food News, Healthy Recipes Royal Challengers Bangalore Toyota Fashion Tips Mercedes
James Anderson Isha Ambani India Vs England Cricket OnePlus Mobiles Android TV Smart TV Marvel Comics Avengers Neha Kakkar Premier League
Big Bang Theory X-Men TATA Royal Enfield
About Us Privacy Policy Terms & Conditions Contact Us News Reviews News Archive Topics Archive Find Cricket Statistics
Follow us on
Facebook Twitter Linkedin Youtube
All rights reserved © NewsBytes 2021