Agarwal: We truly believe that we will be able to build a truly global brand out of India, while ensuring that the business is run efficiently and with a clear path to profitability. — Bloomberg
Bangalore: Oyo Hotels and Homes is raising US$1.5bil from founder Ritesh Agarwal, SoftBank Group Corp and other investors as the India lodging startup expands into foreign markets such as the United States and Europe.
Agarwal, 25, will spend US$700mil to buy new shares in the company as part of a previously reported US$2bil plan to triple his ownership stake.
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