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OYO Rooms Launches its Membership Programme OYO Wizard

30Aug By Gauri SinghNo Comments

BUSINESS

OYO Rooms Launches its Membership Programme OYO Wizard

The budget hotel chain OYO has announced that they have launched a new membership programme known as the OYO Wizard. This programme is basically designed to recognize and reward frequent customers. With this move, OYO aims to deepen and strengthen customer relationships by offering highly-rated and curated hotels to loyal customers at the best price. The company also stated that Wizard is a benefit membership programme which comes with unique benefits that include guaranteed discounts, upgrades and other benefits. Maninder Gulati, chief of strategy, OYO, stated, “OYO Wizard will enable us to take the OYO experience a step further by making it possible for us to engage with customers in a more personal and meaningful manner. We believe that this initiative is an important milestone in o...

OYO is Expanding Operations in China and Indonesia

23May By Sheldan RungasamyNo Comments

BUSINESS

OYO is Expanding Operations in China and Indonesia

OYO, the leading hotel aggregator, has taken a huge step towards expansion, after opening hotels in China and Indonesia making it one of the few Indian consumer technology companies expanding businesses in the world’s second largest economy. The developments come only eight months after the Gurugram-headquartered company raised $10 million funds from China Lodging Group, one of the largest multi-brand hotel groups in the world. Seemingly, the deal provided much more than capital value as it provided a strategic partnership to OYO for its international expansion plans. Commenting on the investment, Founder and CEO of OYO, Ritesh Agarwal said, Addressing consumers in India and Chine – two of the world’s fastest-growing markets – through our combined strengths opens up a very large and...

Ratan Tata Backed Artificial Intelligence Startup Tied Up With Federal Bank

23Jan By RishabhNo Comments

BUSINESS

Ratan Tata Backed Artificial Intelligence Startup Tied Up With Federal Bank

Indian industrialist tycoon Ratan Tata backed Niki.ai has tied up with Kerala-headquartered Federal Bank to launch a virtual assistant in Federal Bank's smartphone application, a financial daily reported. Federal Bank confirmed saying that the chatbot will be helping customers to access m-commerce services right within the app, VCCircle reported. With this integration, the customers can simply perform operations by writing it in the virtual assistant's chat box like top-up their numbers, book movie tickets and pay their bills. The bills will automatically be charged on the user's account. “For payments, the customer need not get redirected to any other platform or take the hassle of loading their digital wallets, the debit happens directly from the federal bank account and the pay...

OYO Enters North-East, Offers 250 Rooms in Gangtok, Darjeeling

16May By AnkitaNo Comments

News

OYO Enters North-East, Offers 250 Rooms in Gangtok, Darjeeling

Online aggregator of branded hotels OYO Rooms has expanded its presence in the north-east by offering more than 250 standardised rooms in Gangtok and Darjeeling. "We have made significant investments to expand our presence in key tourist destinations in the north-east like Gangtok and Darjeeling. Our teams have worked very hard to deliver OYOs level of standardisation of guest experience in the hotels...," OYO Rooms Founder and CEO Ritesh Agarwal said in a statement. "The hospitality sector is still underdeveloped in the north-east and we are certain that the introduction of OYOs standardised affordable stays will attract more tourists," he added. The company now offers more than 250 standardised rooms at rates as low as Rs 999 per night in Gangtok and Darjeeling for and premium rooms...

13May By PriyankaNo Comments

FUNDING

Online Hotels Aggregator Startup Stayzilla Raises $13 Million Funding

As per the mint report, Stayzilla has raised $13 million Series C funding from existing investors Matrix Partners and Nexus Ventures, according to documents filed with the Registrar of Companies. In report the funding round of online aggregator of budget hotels split into three tranches of $8.8 million (Rs.58.5 crore), $1.9 million (Rs.13 crore) and $2.4 million (Rs.16.3 crore), between November 2015 and March 2016. About Stayzilla - Stayzilla was founded by Yogendra Vasupal, Sachit Singhi and Rupal Yogendra. The company which started off by offering travelers stay options in budget hotels, last year forayed into home stays, connecting travellers with homeowners with spare accommodation in their houses. Earlier, Stayzilla raised close to $20 million from Nexus Venture Partners...

SoftBank’s Profit Drops, But India Investments Show Traction

11May By Press Trust of IndiaNo Comments

BUSINESS

SoftBank’s Profit Drops, But India Investments Show Traction

Japanese telecom giant SoftBank today said its investee companies in India - Snapdeal, Oyo Rooms, Ola and Hike - saw good traction even though its own profits dropped 27 percent for the fiscal ended March. SoftBank's sales for 2015-16 totalled 9.15 trillion yen ($84 billion), up nearly 8 percent from the previous financial year. Chief Executive Masayoshi Son said the Indian companies in which SoftBank has invested are growing, which include games, online messenger, and retail businesses. According to the investor presentation, e-commerce major Snapdeal saw the value of merchandise (GMV) sold through its platform rise 90 per cent in 2015-16 over the previous fiscal. "Repeat purchase rates increasing...Investing in supply chain technology... (Freecharge is) the fastest-growing di...

11Apr By NitishNo Comments

FUNDING

Ritesh Aggarwal Led Oyo Rooms Raised $100 million Funding

At a time when startups and companies facing economy jolt, Oyo rooms led by Ritesh Aggarwal has raised $100 million in its fifth round of funding. The investors, including Japan’s Softbank, and an international sovereign fund, a person with knowledge of the deal said. Other investors are Sequoia Capital, Lightspeed Venture Partners, Greenoaks Capital, DSG Consumer Partners and Venture Nursery also participated. In the three years since it was founded, Oyo has emerged as the largest aggregator of hotel rooms in India. It has 65,000 rooms in 5,500 hotels across 177 cities. The company has already raised a total of $125.65 million in four rounds earlier. It recently acquired rival Zo Rooms, which made almost similar revenue, and was funded by Tiger Global. The business of hotel aggre...

IRCTC Partners With 'OYO Rooms' to Deliver Real-time Hotel Bookings

25Feb By PriyankaNo Comments

News

IRCTC Partners With 'OYO Rooms' to Deliver Real-time Hotel Bookings

Continuing its recent streak of partnering with innovative start-up ventures, Indian Railway Catering and Tourism Corporation (IRCTC) has tied up with OYO Rooms, India's largest branded network of hotels, to offer standardized accommodation and a convenient booking platform to rail travelers. The partnership symbolizes the growing leverage of synergies between the government and homegrown Indian businesses to drive the next wave of innovation. OYO Rooms will power the IRCTC hotel-booking page, offering their inventory and promise of standardized amenities to train passengers. Commenting on the tie-up, IRCTC CMD Dr. A.K. Manocha said, "We are committed to drive efficiencies and enhance our service through innovation. OYO Rooms has propelled the hotel market in India towards new horizon ...

Overseas: OYO Rooms launches operations in Malaysia

12Jan By Press Trust of IndiaNo Comments

News

Overseas: OYO Rooms launches operations in Malaysia

Budget-hotel aggregator OYO Rooms has forayed into the overseas market with the launch of its operations in Malaysia. Commenting on the development, OYO Rooms Founder & CEO Ritesh Agarwal said: "Taking the company international has always been on the cards but we wanted to achieve clear market leadership in India before heading overseas." OYO's model is suitable for markets with large share of unbranded budget supply such as South-East Asia, Africa and South America, he added. "Malaysia is our first port-of-call given the attractive characteristics of the market such as higher-than-average mobile penetration and a large internet population," Agarwal said. The company currently offers 40,000 rooms in its network in India, OYO Rooms said in a statement. OYO Rooms is cu...

45 Indian entrepreneurs in Forbes list of achievers under the age of 30

5Jan By Press Trust of IndiaNo Comments

News

45 Indian entrepreneurs in Forbes list of achievers under the age of 30

NEW YORK: Forty-five Indians and Indian-origin people have made it to Forbes' annual list of achievers under the age of 30 who are "changing the rules of the game or creating entirely new playbooks" across varied fields. The Forbes fifth annual '30 Under 30' list features 600 women and men, who are America's "most important young entrepreneurs, creative leaders and brightest stars" and are "changing the world" across 20 varied sectors such as consumer technology, education, media, manufacturing and industry, law and policy, social entrepreneurs, science and art and science. "In the past, youth was a handicap to professional success. Getting older meant more resources, more knowledge, more money. No more. Those who grew up in the tech age have way bigger ambitions -- perfectly suited to...

OYO ROOMS HAD A TURNOVER OF INR 2.4 CRORES IN FY 2014-15

25Nov By No Comments

News

OYO ROOMS HAD A TURNOVER OF INR 2.4 CRORES IN FY 2014-15

Founded in 2012 Turnover in FY14-15 INR 2.4 CR Growth in FY14-15 400% If you have been around in your city anytime 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 exponent...

Ola opens Ola wallet for Oyo Rooms, Lenskart and Saavan

25Aug By No Comments

News

Ola opens Ola wallet for Oyo Rooms, Lenskart and Saavan

Taxi hailing app Ola said its wallet, which was earlier only used for paying for taxi rides can now be used on other platforms including budget hotel rooms aggregator Oyo Rooms, online spectacle retailer Lenskart, and music streaming service Saavan. The company expects to add more players from other retail categories. "We will be leveraging our customer base and provide (ola money) payments solutions for all categories including travel, on demand food and groceries," Rushil Goel, Head, Ola Money, told ET. "Soon we will also be launching offline in store partnerships with brands," he added without specifying the timeline. More than 50% of transactions on Ola are from its wallet. Ola does not hold a licence for a semi closed wallet and has tied up with mobile wallet Zip-Cash ...