OYO is a travel tech company whose app allows travelers to effortlessly search, book, and manage their accommodations. OYO’s tech-driven approach also extends to its hotel partners, who benefit from streamlined operations and management tools provided by the company. In addition to standardizing budget accommodations, the company has introduced premium and luxury segments, serviced apartments, and even vacation homes. By doing it, OYO has successfully catered to a wider range of travelers, offering them a variety of options to suit their preferences and budgets.
OYO is currently in talks with multiple private equity firms to raise around $500 million. The round is expected to value the company at over $6 billion. Existing investors and some of the world’s largest private equity players are considering participation in this fundraising round.
OYO, Gurgaon, Haryana, India, was founded in 2012 by Ritesh Agarwal. Currently, owners and operators of more than 157k storefronts globally use the OYO platform to manage all mission-critical aspects of their business operations.