OYO in talks with Malaysian wealth fund for $400m raise
India: Indian hospitality chain OYO is reportedly in discussions with Malaysian sovereign wealth fund Khazanah Nasional Berhad ahead of a potential pre-IPO $400 million funding round, according to people familiar with the matter.
OYO in talks with Apollo to refinance $660m loan before IPO
India: Indian hospitality unicorn OYO is in talks with private equity firm Apollo Global Management to refinance a $660 million loan as the chain aims to reduce its debt in preparation for its initial public offering [IPO].
OYO steps up plans to resurrect IPO in early 2023
India: Hospitality chain OYO is reportedly ready to resurrect its plans to debut on the stock market through an initial public offering [IPO] by as early as January 2023.
OYO rumoured to be revising 2022 IPO plans
India: SoftBank-backed lodging startup OYO is considering revising its planned initial public offering [IPO].
OYO targets $9bn valuation before imminent IPO
India: Hospitality chain OYO has reportedly set a target valuation of $9 billion for its upcoming initial public offering [IPO].
Cloudbeds raises $150m to support rapid company growth
US: San Diego-based SaaS company Cloudbeds has announced that it has raised $150 million in Series D funding from new and existing investors to continue growing its team, accelerating customer acquisition, expanding its product offerings, and investing in delivering best-in-class technology to the industry. The funding was led by new investor SoftBank Vision Fund 2, joined by […]
SoftBank executives to prop up OYO’s ailing Japanese business
Japan: SoftBank Group Corp. has appointed two executives to prop up OYO in Japan, one of the prized startups in its portfolio, where the hospitality chain has had to merge its hotel booking and apartment rental units as part of its cost-cutting measures. SoftBank executive vice president, Eric Gan, and its Vision Fund investor, […]
OYO to combine hotel and residential divisions in Japan
Japan: SoftBank-backed hospitality chain OYO is to merge its short-term residential and hotel divisions in Japan in the latest stage of its business restructuring due to the coronavirus pandemic. Pre-pandemic, OYO had expanded its portfolio to operate over 35,000 hotels and 125,000 vacation homes, including more than 1.2 million rooms in 80 countries and 800 […]
OYO announces further furlough round and 25 per cent pay cuts
India: Just a fortnight after placing the majority of its employees, or “Oyopreneurs”, on furlough or temporary leave in the United States, United Kingdom and many of the other countries in which it operates, Softbank-backed hospitality chain OYO is furloughing more employees around the world and accepting a 25 per cent pay cut for all […]
OYO announces layoff round in India and China
India: Franchised short-term rental and hotel startup OYO has announced a significant layoff round, letting go of thousands of their employees across the core markets of India and China. The company has announced a five per cent layoff of its 12,000 staff members in China, and 12 per cent of its 10,000 employees in India, […]