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OYO DOWNSIZING
Lightspeed eyes new India fund, plans smaller corpus of $300–350 million amid AI focusThe venture capital firm, which was initially looking to raise as much as $500 million for its fifth India fund, has now cut the target siz...- Peak XV downsizes $2.85 billion fund; Paytm’s employee costs go upHappy Wednesday! Peak XV Partners, formerly Sequoia Capital India, is cutting down the size of its 2022 fund by 16%. This and more in today...
- Oyo tells employees it expects nearly Rs 800 crore adjusted EBITDA in FY24People familiar with the matter said Agarwal told staffers during the town hall that this can be attributed to 'sustained growth' in India,...
- Expect first full year of Ebitda profitability, Oyo tells employeesThe hospitality chain had reported an adjusted Ebitda of Rs 63 crore in the first half of FY23 (H1FY23) according to previous filings with ...
- Oyo to layoff 600 employees as part of 'wide ranging' changes in organisation structureOyo says it's downsizing people in its product and engineering teams, but also hiring staffers in relationship management and business deve...
- Startups go all out to attract talent; Lightspeed chases growth dealsIndian startups including the likes of Meesho, PhonePe, Upgrad, Purplle, Pristyn Care and Spinny are going all out to rope in and retain ta...
- Oyo may downsize IPO; exclusive chat with Nykaa CEOOyo plans to reduce the size of its IPO to less than $1 billion, given the prevailing market conditions. In conversation with Nykaa CEO Fal...
- SoftBank dispatches senior executives to turn around struggling OyoOyo has been among the hardest-hit in SoftBank’s global portfolio of sharing economy outfits. It slashed its regional presence in Japan by ...
- Indian startups like Grofers, Zomato start restoring salaries after pay cutsWhile the country's economy has gradually begun to open up, albeit under a tight leash, the startups are beginning to reinstate the salarie...
- Oyo is slashing footprint and headcount in virus-hit JapanThe company’s expansion proved overly aggressive and it was scaling back even before the coronavirus outbreak, slashing staff in China by a...
- Covid impact: BookMyShow trims business, 270 hit by layoffs & furloughsThe company has been forced to downsize due to the “unfavourable environment,” said Ashish Hemrajani, chief executive of BookMyShow, in an ...
- Ola fires 1,400, says revenues plunge 95% in two monthsOla — backed by global marquee investors including SoftBank, Tiger Global, Tencent, and Steadview Capital—employs about 4,000 people in its...
- Flood of pink slips coming, warn startupsMuch of the layoffs will stem from distress sales and company closures.
- As growth dips, startups shed jobs and conserve cash to stay afloatStartups are closely looking at all major business functions as demand dives. Some of India’s top unicorns have also stopped hiring plans a...
- Masayoshi Son’s real estate bet has some big problemsThe shortfall signals more trouble ahead for SoftBank and one of its most highly touted investments.
- Everyone's favourite startup Oyo is hit hard by hyper growth, a supposed toxic work culture. Can it hit refresh?When Oyo was everyone’s favourite startup, there would be regular reports of the company aggressively entering newer markets. In the last t...
- What's next for Indian startups?Internet businesses in 2012-13 helped form a new wave of entrepreneurship in India. It was refreshing and had the promise of creating a ver...
- Startups cutting employee costsOyo, Ola, Paytm, Quikr, Zomato and Rivigo have handed out pink slips or are likely to.
- SoftBank-backed Oyo lays off thousands across India, ChinaSoftBank-backed Oyo plans to shed another 1,200 in India over the next three to four months, sources said.
- How recent layoffs at technology startups have proved a blessing for younger companiesThe exits, triggered by shutdowns, acquisitions or cost cuts, have created a pool of top-notch talent for younger companies to pick from.
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