Among the Indian Unicorns Oyo is the 2nd startup to file for an initial public offering after Zomato. Founder Ritesh Agarwal owns 34% stand in the company. The company plans to use the funds to pay off the debts. Oyo has also announced a strategic investment from IT giant Microsoft. Oyo has completely changed its policies & further plans to introduce advanced technologies in the hospitality sector. The number of hotels registered under Oyo has also increased with the launch of self signup service through which a hotel can be registered within 30 minutes. As the pandemic has affected the lifestyle of the consumers Oyo’s plan to introduce advanced technologies can be a boon for the company. Meanwhile, Oyo’s three-year-old legal battle with Zo Rooms is expected to conclude as the hearing is scheduled for October 7.
