Japanese venture capital firm SoftBank may be struggling with investments in WeWork and Uber, but its stake in Oyo continues to pan out well … for now.CEO Ritesh Agarwal says his team remains fixated on growth, penetrating new markets while creating a strong brand name in the U.S.Ritesh Agarwal, founder and CEO of OYOmay be struggling with its investments in WeWork and Uber, but its stake in Oyo Hotels & Homes continues to pan out well ... for now.
Oyo's business model consists of renovating and rebranding budget hotels, applying a set of standards to drive occupancy while using its online booking platform and mobile app to fill the rooms. In a phone interview with CNBC, Agarwal tried to differentiate Oyo from other fast-growing private companies that have yet to turn profitable and have received strong criticism from investors.
And here WeWork go...
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India Insight: Oyo gives off a WeWorky vibeRitesh Agarwal’s $10 bln upstart is pushing into co-working, cloud kitchens, weddings and more, frantically expanding beyond its base as the world’s No. 2 hotel rooms provider. Oyo’s dizzying rise and dealings with SoftBank echo the hype before the fall of Adam Neumann’s empire. ReutersBiz ugalani It could be fastest growing but service is pathetic
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