Back to headlines

img

Oyo hotels has about $1 billion to fund operations until IPO, says founder

Oyo Hotels is making progress in recovering from the COVID-19 pandemic fallout and has about $1 billion to fund operations until an initial public offering (IPO), CEO and founder Ritesh Agarwal has told employees.

The 27-year-old founder of the startup, which has endured months of layoffs amid economic losses as the pandemic hammered its business, made the comments in a fireside chat with Oyo board member Troy Alstead.

News source ~ Money Control