Japanese conglomerate SoftBank has barely come out of 2019 sporting a black eye after coworking space provider WeWork’s failed investment. However, 2020 didn’t start on a good note either as it is now facing major questions for its investment in Indian hospitality unicorn Oyo. Multiple experts have argued that Oyo’s business model resembles WeWork’s as a tech-inflected real estate business that has expanded far beyond its initial concept.
Over the last year, we have reported several times about Oyo’s unpaid dues to hoteliers, protests against the company and police complaints. The latest report by the New York Times has now reported that former employees have alleged a “toxic” work culture. At the same time, several other hoteliers, former and current employees have reportedly alleged that Oyo offers rooms from unavailable hotels, etc.
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