Skift Take
Oyo has been focused on hyper-growth. Its CEO wants to keep going, but he's happy to take a pause first if needed.
Despite reports of a public offering in limbo and more potential private investment, the CEO of Oyo said Wednesday the company has no need to raise more money right now.
“My view is that, at this point of time, we don't need access to capital from either the public markets or the private markets,” said Ritesh Agarwal, CEO of Oyo, at the Skift India Summit. “Currently, our focus is just delivering good earnings results, and so on.”
Oyo — primarily a budget hotel operator and aggregator — has been profitable for the past couple of quarters