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oyo: Ritesh Agarwal has steered Oyo from chaos to clarity. Is that enough to pull off a successful IPO?

Written by News Sateek

The OYO logo is displayed on a hotel building in New Delhi, India on September 24, 2021

Summary

In early 2020, Oyo launched a revamp to improve business performance and operations management. Having survived an explosion nearly 18 months ago, Oyo has managed to change the narrative. But as it plans for a listing, the soundness and financial performance of its business will undergo intense scrutiny from public market investors.

Just a year ago, Oyo was making headlines for extended furloughs and restructurings in its senior ranks. This was followed by reports of massive layoffs, withdrawal from international markets after burning several hundred million dollars, the departure of angry hotel partners from the platform, and investigation questions about business practices, safety and customer experience. By the second half of last year, there were loud whispers about Oyo’s future. NS

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News Sateek

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