Having built one of India’s most successful unicorns with a global footprint in less than a decade, Ritesh Agarwal of OYO is now tapping into newer opportunities such as staycation and holiday homes.
OYO was hit hard by the pandemic last year. Founder Ritesh Agarwal, who is at the forefront of reimagining OYO for a post-pandemic future, explains how he has been crafting this strategy.
For the OYO founder, the global Coronavirus outbreak is the most difficult and unique challenge that has presented itself in the seven-year history of the company. Can the business survive the crisis?
In India, OYO said it has reached out to ministries and state governments to offer some of its properties for pay per use quarantine facilities at an affordable price.
The hotel aggregator, however, marked a nearly five times jump in its revenue led by Indian and Chinese markets.
OYO Life, its co-living vertical, plans to operate 100,000 beds in India by the end of 2019.
The 25 startups on the list collectively created about 18,000 jobs last year, and are expected to create 19,000 more over the next 12 months.
According to a source, the payment process for the transaction, worth ₹180 crore to ₹200 crore, has been initiated.
