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OYO's Ritesh Agarwal Booked Over Cheating, Criminal Breach Of Trust

Saturday, September 7, 2019, 12:14 PM

Bengaluru Police have booked Gurugram-based budget hospitality startup OYO's Founder and CEO Ritesh Agarwal, along with two other company representatives. This came over a complaint by a Bengaluru-based hotelier who accused them of criminal breach of trust and cheating him of around Rs.1 crore. He alleged that OYO representatives took 80% of the reservation share instead of agreed 20%.
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Oyo acquires Copenhagen-based data science company Danamica

Monday, September 2, 2019, 8:11 PM

Softbank-backed Oyo has acquired Copenhagen-based data science company Danamica for an undisclosed amount. Earlier this August the company had committed to invest 300 million in the vacation homes business in Europe, with a special focus on strengthening technology. With the acquisition of Danamica, Oyo looks to drive growth by leveraging dynamic pricing across all its brands Oyo Home, Belvilla and DanCenter.
 
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Oyo plans to lay off sales staff

Thursday, August 22, 2019, 12:17 PM

Oyo Hotels and Homes plans to lay off 150-200 people from sales teams across the country, said the source. About 60 salespeople in Oyo's New Delhi and Gurgaon offices were the first to be fired. A similar number is in the process of being let go in other locations including Mumbai and Pune. Those being asked to leave range from executives to managers.

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