OYO Rooms raises $100 mn led by SoftBank

New Delhi, Aug 3 (IANS) OYO Rooms has raised $100 million, led by the SoftBank Group, with participation from its existing investors – Greenoaks Capital, Sequoia Capital and Lightspeed India, a company statement said here on Monday.

Launched in 2013, OYO is a network of branded budget hotels and is present in more than 70 cities with 12,000 plus available rooms.

“OYO will use the latest round of funding to implement new customer experience initiatives, build innovative technology products,” the statement said.

“Our vision is to provide a standardized experience – the OYO experience, to anyone, anywhere looking for a place to stay when not at home. We are excited to have global investors like SoftBank partner with us in this vision,” Ritesh Agarwal, founder and chief executive officer of OYO Rooms said.

 

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here