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Ritesh Agarwal, founder and CEO of OYO, is leading a $65 million funding round for the hospitality startup, which is now valued at $3.8 billion. This valuation represents a 60% increase from the previous round earlier this year, although it remains a significant drop from the $10 billion peak valuation in 2019. Agarwal's investment will see him purchase over 12.9 crore shares at ₹42.6 each, increasing his stake in the company from 30% to 32.5%. This move follows Agarwal's previous investment of ₹830 crore, and it aligns with a growing trend of founders increasing their stakes in their startups. The new funding round is expected to support OYO's global expansion efforts.
Ritesh Agarwal is set to invest $65 million in OYO. The founder and CEO will purchase over 12.9 crore shares at Rs 42.6 each, increasing his stake in the company from 30% to 32%. @dishaacharya_ writes: https://t.co/3VALMcZt70
📢 @riteshagar to invest ₹550 crore to increase his shareholding in OYO, sources tell @CNBCTV18News. Agarwal is slated to buy another $60M worth of shares from the company at Rs 42.60 per share, a 45% premium to his last purchase in Aug 2024, sources told @Aish_19_Anand. https://t.co/o9IWt2Pq4g
Ritesh Agarwal, founder and CEO of OYO, is set to invest $65 million in the company, raising the travel tech startup’s valuation to $3.8 billion. @dishaacharya_ brings you the details: https://t.co/3VALMcZt70
