From a single city in 2013 to five cities in December 2014 & from 20 cities in May 2015 to adding 43 more cities in July 2015. The story of OYO and how it has expanded like a ninja is known to everyone. The company hit the 100 city mark at 3 PM of 21st August.
Founded by a college dropout, Ritesh Agarwal, the journey of OYO has been a roller coaster ride for the entire team.
Of course, OYO was in news recently, when it had hit the 100 city mark and had a $100 Mn funding jackpot from Softbank and its existing investors, Lightspeed Venture Partners, Sequoia Capital India and Greenoaks Capital. Before that, it even gathered a lot of negative press after the Mint story on the founder Ritesh Agarwal.
The fact that a 21 year old Thiel fellow and tech prodigy is at the helm of this budget-hotels behemoth is an impressive one; and has amassed OYO enough eyeballs from the startup and investor community alike. After all, they’ve got more than $100 Mn in their kitty to prove it.
But behind this dazzling funding story, is the more interesting growth story of how OYO has built a chain of technology enabled budget hotels striving to deliver the same level of standardization every time a user books an OYO room “from the thickness of the mattress to the thread count of the linen to the ease of ordering room service.”
That is the story of a company built on the three pillars of process, technology and team from day one; a story which started from a single city and now stretches to 99 more; a story which envisions a seamless customer experience, where you can check in and check out without stopping at the reception; and a story where with just one OYO App, you can order room service, call for a cab and hunt for restaurants dishing your favourite cuisine.