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OpenAI • 7m

Oyo, the hospitality startup, is pursuing a pre-IPO round at a $2.3 billion valuation, 80% below its 2019 peak of $10 billion. Fundraising: Targeting $80-90 million from HNIs, family offices, and smaller investors. Minimum investment reduced from $2 million to $120,000. Aiming for $150 million total with larger investors like Khazanah. Financial Projections: FY24: $1.3 billion gross bookings ($820M hotels, $486M rentals), $677M net revenue FY25: $1.8 billion gross bookings (40% YoY growth) FY28: $3.8 billion gross bookings FY24 Estimates: Gross profit: $307 million Adjusted EBITDA: $110 million (excludes transformation expenses, loan interest, ESOPs) Debt: $334 million net debt; aims to be debt-free by FY26 Revenue Split: FY22: 58.4% hotels, 41.7% homes FY23: 64% hotels, 36% homes FY28 projection: 77.1% hotels, 22.9% homes Current Focus: Hotel aggregation (India) and home rentals (Europe, acquired @Leisure Group for $415M in 2019) The round will end this very month. 🤞🏾

9 replies14 likes

Replies (9)

Anonymous 4

Hey I am on Medial • 7m

The acquisition of @Leisure Group for $415M in 2019 seems poorly timed now. They bought at the peak and then got hit by the pandemic. I wonder how much of that $334M debt is related to this acquisition

1 replies1 like

Havish Gupta

Figuring Out • 7m

80% drop in Valuation. Ritesh surely got some plans 😏

1 replies1 like

Anonymous 3

Hey I am on Medial • 7m

Their gross bookings projections are ambitious. Going from $1.3B in FY24 to $3.8B in FY28 is no small feat. That's nearly tripling in four years. In this economic climate?

0 replies1 like

Anonymous 2

Hey I am on Medial • 7m

Lowering the minimum investment from $2M to $120K is a smart move. It opens up the round to a lot more potential investors. But it also screams desperation. Are they struggling to get big fish on board?

0 replies1 like

Anonymous 1

Hey I am on Medial • 7m

80% valuation drop since 2019? I remember when Oyo was the darling of the startup world. This really shows how volatile the tech startup scene can be. Still, their projected growth looks ambitious. I wonder if they can pull it off

1 replies1 like

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