Oyo Ritesh Agarwal

Building a $125M Business Backed by Dhoni & Ritesh

Aditya Shankar, Co-founder of Centricity WealthTech, shares how he built a $125 million WealthTech firm, lessons from corporate life, and what it’s like to have MS Dhoni and Ritesh Agarwal as investor

Oyo Hotels is slashing footprint and headcount in virus-hit Japan

The Indian start-up slashed its regional presence by closing offices in provincial centers Sapporo, Sendai, Nagano, Hiroshima and Omiya at the end of June, Chief Business Officer Ryota Tanozaki said.

OYO announces ESOPs for furloughed employees impacted by Covid-19 pandemic

On April 8, OYO founder and Group CEO Ritesh Agarwal had said in a letter and video message that the company will place a certain number of employees on furloughs or temporary leaves, globally

SoftBank Vision Fund posts $17.7 billion loss on WeWork, Uber Technologies

Takes hit after writing down the value of investments in WeWork, Uber and others; plans to double buybacks

Oyo asks all employees to take 25% pay cut; some to be sent on furlough

OYO CEO for India Rohit Kapoor communicated the decision through an email to employees after a company townhall on Wednesday

Top headlines: FB buys 9.9% stake in Jio, OYO employees to take 25% pay cut

Business Standard brings to you a snapshot of events that made the headlines today

SoftBank's $2-billion guarantee at risk as pandemic hits Oyo business

Oyo risks turning into another problem startup for SoftBank and Son, still reeling from the meltdown at the shared-office company WeWork.

Covid-19: OYO CEO Ritesh Agarwal takes 100% pay cut for rest of the year

The company's entire executive leadership team has taken a voluntary pay cut starting at 25 per cent and going up to 50 per cent

OYO offers free stay to medical staff, first responders in the US

The US is seen as the new epicentre of the disease, with nearly 55,000 cases and over 700 deaths

Troubled times? Oyo Group CEO Ritesh Agarwal confirms trimming staff

It was reported last week that Oyo had let go of about 1,200 people from its China business, and an equal number are likely to be asked to leave in India

Income tax officials conduct surprise search at SoftBank-backed Oyo

The news comes at a time when Oyo's major shareholder SoftBank faces renewed investor scrutiny after being forced to bail out one of its best known portfolio companies

Oyo continues to trim workforce, plans to let go 1,200 in India in 4 months

It has let go of 5 per cent of its 12,000 employees in China partly due to non-performance

OYO: Toxic culture, troubling incidents reported at SoftBank's India jewel

Oyo is part of a group of prominent start-ups that have sprinted to get as big as possible, fed by money from large investors such as the Japanese conglomerate SoftBank

Rejig of Oyo brass: Aditya Ghosh joins board, Rohit Kapoor becomes CEO

Oyo has recently undergone large-scale corporate restructuring, setting up several subsidiaries and bifurcating operations globally

Cheating case against Oyo's Ritesh Agarwal, six others over unpaid dues

A cheating case has been registered against OYO Hotels & Homes founder Ritesh Agarwal and six others based on a complaint by a hotelier who has alleged that the firm did not pay rent for rooms for the past five months, police said on Monday. In his complaint, Betz Fernandez, who owns Roxel Inn at Domlur here, stated that OYO had booked rooms and had agreed to pay Rs 7 lakh per month. However, since May OYO did not pay him any rent thereby duping him to the tune of Rs 35 lakh, he alleged. Besides Ritesh Agarwal, police have booked Rohit Srivastava, head of OYO South, heads of business development Madhvendra Kumar and Gourab De, OYO Finance Officers Prateek Agarwal, Manjeet Singh and Mrimony Chakraborty. They have been asked to appear before the investigating officer on Thursday, police said. The OYO Hotels & Homes said in a statement that they will file a counter complaint against the Bengaluru hotel owner for "using improper legal means to sensationalise a civil .

Oyo raises $1.5 billion at $10 billion valuation; to focus on US market

A significant part of the Series-F funding will be diverted in boosting US footprint, and in strengthening position in the vacation rentals business in Europe

Oyo is booming, and yet some hotels are complaining about its pricing

Oyo charges hotels a roughly 20 per cent franchise fee on room revenues when hotels join its network

Softbank-backed Oyo raises $1.5 bn at $10 bn valuation for market expansion

Agarwal, who founded Oyo in 2013, has built it into India's second-most valuable startup with a valuation of about $10 billion

Room for more: Oyo to raise another $1 bn as it adds stars to its hotels

The plan is to take up luxury properties in India and abroad

Inside Oyo Hotels founder Ritesh Agarwal's $1.5 bn share buyback plan

Agarwal is pledging his shares to finance the buyback, which will see his shareholding rise to about 30% from 10% currently