OYO

India - Gurugram, Haryana

• 30/11/2022
• Seed
• $3,700,000

OYO is a global platform that aims to empower entrepreneurs and small businesses with hotels and homes by providing full-stack technology products and services that aims to increase revenue and ease operations; bringing easy-to-book, affordable, and trusted accommodation to customers around the world. OYO offers 40+ integrated products and solutions to patrons who operate over 157K hotel and home storefronts in more than 35 countries including India, Europe, and Southeast Asia.

OYO was founded by 27-year-old Ritesh Agarwal, the first Asian resident to be accepted to the Thiel Fellowship (started by Paypal founder Peter Thiel).

OYO operates a unique business model that helps its patrons transform fragmented, unbranded and underutilized hospitality assets into branded, digitally-enabled storefronts with higher revenue generation potential and provides its customers with access to a broad range of high-quality storefronts at compelling price points.

Owners and operators of over 157K storefronts use the OYO platform to manage all mission-critical aspects of their business operations. OYO’s comprehensive, full-stack technology suite integrates more than 40 products and services across digital sign-up and onboarding, revenue management, daily business management and D2C stacks into two flagship patron applications, Co-OYO and OYO OS.

OYO customers can book storefronts through OYO’s own D2C channels and through indirect channels with third-party OTAs. The OYO App offers a variety of digital tools to guide customers throughout their journey, including discovery, seamless booking, pre-stay assistance, cancellations, digital check-ins as well as in-stay and post-stay services. With over 100 mn downloads, the OYO App was the 3rd most downloaded travel app in 2020. OYO Wizard, OYO’s loyalty program, has 9.2 million members and is the second largest loyalty program run by a travel or food brand in India, by subscriber base.

Related People

Ritesh AgarwalFounder

India - ND

Founder & Group CEO-OYO, a global platform that empowers entrepreneurs and small businesses with hotels & homes by providing full stack technology & brings easy to book, affordable & trusted accommodation to customers around the world.

LinkedIn https://www.linkedin.com/in/riteshagar/?originalSubdomain=in