CHINA VOICES | The inside story of OYO

5 min read
A user opens OYO's app on an iPhone. (Image credit: TechNode/Eugene Tang)
A user opens OYO’s app on an iPhone. (Image credit: TechNode/Eugene Tang)

What follows is a greatly abridged translation of a long-form investigation of Indian hospitality unicorn OYO conducted by Chinese journalists. The budget hotel brand offers rooms in 800 cities globally and is valued at $10 billion after founder Ritesh Agarwal bought a $2 billion stake from Sequoia Capital and Lightspeed Venture Partners on Friday.

Despite the hefty valuation, it appears that not all is rosy in China where company is dealing with layoffs, micromanagement, and zombie hotels.

TechNode has not independently verified the claims made below. 
OYO dives into China, naked
Liu Xue’r and Ran Xiangyu, AI Finance and Economics, July 2, 2019

At noon on July 2, OYO employee Ma Dun opened the company’s Ding Ding office management app and checked the total employee count. 7,417. By 9 p.m. that night,

Not a member of TechNode Squared yet? You’re missing out on our premium content and online community. Check out membership plans below.

View subscription options

Already a member? Login here