OYO's parent company, Oravel Stays, is set to acquire G6 Hospitality, the owner of Motel 6 and Studio 6 brands, for $525 million in cash.  This acquisition marks a significant milestone for OYO, wh...

Welcome to News Discussion's Private Community

- OYO's parent company, Oravel Stays, is set to acquire G6 Hospitality, the owner of Motel 6 and Studio 6 brands, for $525 million in cash.
- This acquisition marks a significant milestone for OYO, which has been expanding its footprint in the US since 2019.
- Blackstone Inc., the current owner, has invested heavily in transforming Motel 6 into a leading asset-light lodging company.
- The deal is expected to close in Q4 2024, pending customary closing conditions.
- OYO plans to leverage its technology and marketing expertise to further strengthen the Motel 6 and Studio 6 brands. 

 Source: [Moneycontrol](https://www.moneycontrol.com/news/business/companies/oyo-to-buy-iconic-motel-6-brand-for-525-million-in-us-expansion-bid-12826688.html)

OYO to buy iconic Motel 6 brand for $525 million in US expansion bid

Journalist

OYO to buy iconic Motel 6 brand for $525 million in US expansion bid- Grapevine

Welcome to Indian Startups's Private Community

from Malaysian sovereign wealth fund Khazanah. Does this indicate further delays to IPO?

Source: https://www.bloomberg.com/news/articles/2024-01-25/khazanah-in-talks-to-lead-oyo-hotel-s-400-million-fund-raise

OYO raising $400 mil

Content Strategist

In last 6-8 months there has been lot of layoffs and many startup getting scrutinised due to funding etc..

But I can’t see Oyo name anywhere… Not much layoffs or nothing on their crunch.

Are they doing good or successful?

How is OYO doing ?

Consultant

Or is he just managing his image prior to Oyo IPO?

Ritesh Agarwal seems a bit fake on Shark Tank. Feel like he acts too nice and simple minded. People who worked at Oyo, is this portrayal accurate?

Corporate Strategist

I guess the had the same tech valuations problem that WeWork and any non-tech businesses have had in the last couple of years.

Oyo raising a round at $2.5-3Bn valuation, major discount from peak valuation

Operations Manager

Next round Term Sheet as a wedding gift?

Analyst

Welcome to Office Gossip's Private Community

Heard from a friend that about 40 to 50% workforce to be fired. Saw some post on Linkedin from product and tech folks working at oyo with open to work tag. 

Irony is Airbnb had the best quarter ever.

Massive layoff at oyo

Product Owner

Woah that’s a huge round!

Software Developer

- Oyo's valuation has dropped from $10 billion to $2.4 billion in a recent Series G funding round.
- The Gurugram-based budget hotel chain raised $173.5 million, with significant contributions from Patient Capital, InCred Wealth, and J&A Partners.
- Oyo's current valuation is now below its total capital raised, which is approximately $3.3 billion.
- SoftBank, a major backer, had internally cut Oyo's valuation to $2.7 billion in 2022, a move Oyo previously disputed.
- The new funding comes after Oyo withdrew its IPO application for the second time earlier this year.
- India’s market regulator, SEBI, has never approved the startup’s application for an IPO.

 Source: [Techcrunch](https://techcrunch.com/2024/08/11/oyo-valuation-crashes-over-75-in-new-funding/)

Oyo Valuation Plummets Over 75% in New Funding Round

I have been following Ritesh Agarwal since I was in college. Have been quite impressed by his humility inspite of all the success he has achieved at such a young age. 

For people who have interacted with him, how's is to work with?

How is Ritesh Agarwal in real life?

Product Marketing Manager

Cred is truly a topic of surprise for me. Yes, I understand it has created a community of top spenders/credit worthy people in India. I also understand that they can use the information on such people for creating value for themselves.

Being a cred user, I only use it to pay the bills. I really wonder if they have built any b2b business or alternative source of income beyond what's seen to the end user. What's the game plan for the cred? 

I also applaud the fact that cred hasn't laid off people having paid them better than most companies. I really wonder if the business is really that strong or the conviction is. Would you join cred if given a chance to work there?

Cred

I feel cred is doomed and just trying to increase its value. 
 And the end goal is to sell the cred to someone with higher value and make money.

Software Engineer

Product Manager

Oyo’s latest round

Welcome to Personal Finance's Private Community

Pre ipo platforms are offering oyo for 75rs per share.is it worth it.

OyO ipo worth it?

Growth Manager

https://entrackr.com/2023/09/rario-burns-through-120-mn-in-15-months-future-looks-uncertain/

Tell me no corruption was involved in this ;)

120 million USD gone in 15 months

Burnt through 60-70 crores per month (average) with 70 employees. Put the best combustion engines to shame.

1. Fancy talks from founders such as ownership, independence, building for next generation, speed etc
2. Learn new tech
3. Glofiying working at odd hours
4. Don't talk about stress and anxiety 

Start ups are not for weak heart and normal humans who have life after work. It's only for people who will give up their life to build somone else dream. Prove me wrong.

An ex ola person cried infront of me for the workplace stress and unrealistic push

OYO to buy iconic Motel 6 brand for $525 million in US expansion bid

Discover More

Indian Startups on

by Jordon Carmden

Stealth

OYO raising $400 mil

Indian Startups on

by Kendall Denver

Jobless

How is OYO doing ?

Indian Startups on

by Anise Taye

Series A Startup

Ritesh Agarwal seems a bit fake on Shark Tank. Feel like he acts too nice and simple minded. People who worked at Oyo, is this portrayal accurate?

News Discussion on

by Jordon Dean

Gojek

Oyo raising a round at $2.5-3Bn valuation, major discount from peak valuation

Indian Startups on

by Kendall Vernon

Stealth

Next round Term Sheet as a wedding gift?

Office Gossip on

by Matilda Taye

Dunzo

Massive layoff at oyo

Indian Startups on

by Jordon Denver

Swiggy

Woah that’s a huge round!

News Discussion on

by Kalan Carmden

Grapevine

Oyo Valuation Plummets Over 75% in New Funding Round

Misc on

by Aaron Lee

Stealth

How is Ritesh Agarwal in real life?

Indian Startups on

by Jordon Lee

Stealth

Cred

Indian Startups on

by Coy Gabriel

Accenture

Oyo’s latest round

Personal Finance on

by Kendall Lee

Startup

OyO ipo worth it?

Indian Startups on

by Karilyn Carmden

Stealth

120 million USD gone in 15 months

Indian Startups on

by Kendall Carmden

Stealth

Startup are brutal