Oyo Asks Help From SoftBank

OYO ROOMS: INDIA’S YOUNGEST BILLIONAIRE RITESH AGARWAL’S OYO ROOMS ASKS HELP FROM SOFTBANK

OU NEWS REPORT :      

                                               Startup Oyo Hotels & Homes is planning to move some employees off its payroll and onto the rolls of its biggest investor, SoftBank Group Corp., in a sign of how the Japanese tech giant is stepping in to aid one of its most important portfolio companies in a pinch.

                          Oyo became one of the world’s biggest hotel chains, fueled by cash from SoftBank and its $100 billion Vision Fund. It grew by persuading independent hotels to join its network and use its booking technology, taking a cut of revenues in exchange. 

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