One of the most promising Indian startups, Oyo, has filed for IPO🥳🥳
Let's take a look at Oyo's story, financials, and performance over the years.
A thread👇👇
Let's take a look at Oyo's story, financials, and performance over the years.
A thread👇👇
From dropping out of college at the age of 19 to listing hotels online to getting funding from big investors like Sequoia and Softbank to finally a 1 billion dollar IPO, it's been a hell of a ride for Ritesh Agarwal, the founder, and CEO.
By looking at Oyo's performance, it seems that the journey is just getting started🚀🚀
Oyo's main business is online hotel booking. But they have expanded into more areas like payments for hotels.
Oyo's main business is online hotel booking. But they have expanded into more areas like payments for hotels.
Their main market is India, but they are also been expanding internationally in places like Indonesia, Malaysia, Europe, America, etc. Currently, they are present in 80 markets🔥🔥
The app has been downloaded 100 million+ times, and it's one of the most popular travel apps in the world, along with Airbnb and Booking(dot)com.
Of course, the pandemic had a big impact on Oyo. Revenue during the pandemic decreased 69%📉
Of course, the pandemic had a big impact on Oyo. Revenue during the pandemic decreased 69%📉
But Oyo is rebounding. They have managed to reduce their losses by 63%💪💪
Oyo has plenty of negative points as well, and we should keep them in mind for its IPO.
Biggest negative point(for some people): they are still not profitable🙃
Oyo has plenty of negative points as well, and we should keep them in mind for its IPO.
Biggest negative point(for some people): they are still not profitable🙃
Further lockdowns will also adversely affect Oyo🔻
Oyo has also indulged in several fraud practices.
📌 To avoid problems from authorities, they were giving free accommodation to police officers in Oyo hotels.
Oyo has also indulged in several fraud practices.
📌 To avoid problems from authorities, they were giving free accommodation to police officers in Oyo hotels.
📌 They also include listings from unavailable and unlicensed hotels to increase the number of hotels on Oyo.
📌 They refused to pay hotel owners the full amount of money from bookings.
📌 They refused to pay hotel owners the full amount of money from bookings.
So this is a short, 360-degree view of the Oyo IPO. What are your views on this company and its IPO? Let me know below👇👇
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