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Cheating case against Oyo founder Ritesh Agarwal, 6 others

Tuesday, November 5, 2019, 11:43 AM

A cheating case has been registered against OYO Hotels & Homes founder Ritesh Agarwal and six others based on a complaint by a hotelier who has alleged that the firm did not pay rent for rooms for the past five months, police said. Appropriate criminal proceedings will be initiated against the Bengaluru owner, the company said.
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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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