Oyo might be the fastest-growing big company in the world. But the $10 bln upstart's dizzying rise and dealings with SoftBank echo the hype before the fall of Adam Neumann’s shared office space empire The We Company. Read ugalani's column:
Oyo Hotels & Rooms on Oct. 7 said that it planned to raise $1.5 billion as part of a fresh round of fundraising.
The Indian startup's founder, Ritesh Agarwal, will invest $700 million in new shares of the business, and the rest will come from existing investors, Oyo said in a statement. Agarwal will also spend $1.3 billion to buy part of the shareholding of U.S. funds Lightspeed Venture Partners and Sequoia India. The details of Agarwal's personal investment were first announced in July.
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