ritesh agarwal
Byju’s founder took loan to invest $400 million in edtech giant
Byju Raveendran, founder and chief executive of the eponymous edtech giant, has financed his recent $400 million investment in Byju’s through a debt he raised from multiple international banks,
Dukaan raises $11 million to help merchants in India set up online stores
Dukaan, a one-year-old Bangalore-based startup that enables merchants to set up online stores and sell products digitally, said on Monday it has raised $11 million in a new financing round as it looks
Despite everything, Oyo still has $1 billion in cash
India’s Oyo has been one of the worst impacted startups with the coronavirus, but it has enough cash to steer through the pandemic and then look at funding further scale, a top executive says. In a
Investors, startup founders in India pool $13M to fund projects that fight coronavirus
More than 150 investors and entrepreneurs in India are funding dozens of projects in a bid to help millions better combat the COVID-19 epidemic and help the nation’s booming startup ecosystem withst
SoftBank-backed Oyo cuts salaries, furloughs employees
Oyo is furloughing more employees globally and levying a 25% pay cut across the board through July this year as the Indian budget lodging startup looks to reduce its expenses to deal with the coronavi
Startups, VCs in India request ‘relief package’ from the government to fight coronavirus disruption
More than six dozen startup founders, venture capitalists and lobby groups in India have requested the government to grant them a “robust relief package” to help combat severe disruptions their bu
India’s Oyo furloughs thousands of employees as revenue drops by over 50%
Oyo has placed thousands of employees on leave and furloughs for up to three months in the U.S. and several other markets as the Indian budget lodging firm contends the coronavirus outbreak that has c
SoftBank-backed Indian startup Oyo to cut 5,000 jobs globally
Oyo said on Wednesday it is laying off 5,000 people from its global workforce as the Indian budget hotel startup looks to cut its spendings and chase profitability. The latest round of job cuts would
Ritesh Agarwal to invest $700M in Oyo’s new $1.5B financing round
India’s largest budget lodging startup Oyo Hotels and Homes said today it plans to raise about $1.5 billion as part of a new financing round as the startup looks to expand its footprints in the U.S
India’s Oyo valued at $10B after founder purchases $2B in shares
Ritesh Agarwal has reportedly purchased back $2 billion in shares from VC firms Sequoia and Lightspeed Venture Partners.
Airbnb-backed OYO moves into Europe, buys Leisure Group from Axel Springer for $415M
OYO, the fast-growing budget hotel startup out of India that’s backed by Airbnb, SoftBank, Grab and Didi, has made an acquisition to expand its footprint into Europe, specifically around self-ca
India’s OYO enters Japan in partnership with SoftBank
Fresh from closing a notable investment from Airbnb, India’s OYO has expanded its footprint into Japan. The move comes through a joint venture with investor SoftBank — which led OYO’
Airbnb confirms stake in India’s OYO, sources say it invested $150M-$200M
Airbnb is continuing to widen its focus beyond “unconventional” hotels as it gets ready for a much-anticipated IPO. Following its acquisition of HotelTonight last month, the company has pi
The Khashoggi murder isn’t stopping SoftBank’s Vision Fund
Money talks in the startup community, especially when SoftBank comes knocking with the megabucks of its Vision Fund. Despite the public outcry around the firm’s dependence on money from Saudi Arabia
Budget hotel network pioneer OYO raises $250M led by SoftBank’s Vision Fund
India-based OYO, a startup that pioneered and popularized the concept of budget hotel networks, has closed $250 million in new funding led by SoftBank’s Vision Fund. The startup was founded in 2
SoftBank Leads $100M Investment In India-Based Budget Hotel Network OYO Rooms
SoftBank is back investing in India after it lead a $100 million round for OYO Rooms, a two-year-old startup that runs an online marketplace for affordable hotels in the country. OYO Rooms was founded
Thiel Fellow Raises $25M For OYO Rooms, A Network of Branded Budget Hotels in India
In the largest funding round to date for a Thiel Fellow project, Ritesh Agarwal has raised $25 million from Lightspeed, Sequoia and others to build a branded budget hotel network across India.