[39], In August 2019, Oyo made its first major investment in the United States by purchasing the Hooters Casino Hotel, near the Las Vegas Strip, in partnership with US-based real estate company Highgate, for $135 million.[40][41][42]. Lightspeed Venture Partners, and Sequoia India, OYO's early supporters, are selling part of their holdings in order to help the founder increase his stake and thereby commitment while remaining invested significantly in the company's long-term mission. Based to a large extent on the dynastic tradition of the formerly dominant Oyo clan, it is presently in the process of re-evaluation. Nepal and Malaysia was just a hint of the monstrous development that was to follow. [37], In May 2019, OYO announced the acquisition of Amsterdam-based @Leisure Group, Europe's largest vacation rental company. Everything is within walking distance from our front doors. The History Of Ibadan. Conquering the Asian Territory and Stepping into the International Markets. of OYO ... perhaps the world's fastest growing hospitality brand from India, offering "tasteful spaces, whenever you need them, at unbeatable prices. Linguistic evidence suggests that two waves of immigrants came into Yorubaland between 700 and 1000, the second settling at Oyo in the open country north of the Guinea forest. The real motive of this article that traces the journey of Oyo is to look in wonder at its meteoric rise, in an exceedingly short span of time, from being a hotel-chain start-up pursued by an 18-year-old college dropout to becoming an Asian obsession and gradually make its way into the international market. [67], 68. The Oyo forged an empire thanks to their formidable cavalry units and so came to dominate other Yoruba peoples of the region. In fact, the yo-yo is considered the second oldest toy in history, the oldest being the doll. Oyo Empire(1600-1836) was a Yoruba empire, located in present day Nigeria and Benin. Directors & Executive officers. Our History Oyo State, popularly referred to as the “Pace Setter” is one of the 36 States of the Federal Republic of Nigeria. [30], In March 2016, OYO acquired the team of Qlik Pass, founded by Rahul Gupta & Rishi Swami to setup and lead its Data Science Department.[31]. In 2019, OYO and Airbnb announced a strategic partnership with Airbnb investing in OYO and the company will list their properties on Airbnb platform. 2014- In August of this year, Oyo received its first Series A funding. 2017- Continuing its expansion aspiration, it launched a business in Nepal. Oyo was reduced in size when Osun state was created out of its eastern portion in 1991. Same as Oyo Rooms booking history, there is no direct option to delete the Oyo Rooms account, but still, you can delete your Oyo Rooms account by sending an email to [email protected] and [email protected] from your registered email address requesting Oyo Rooms to delete your Oyo … OYO Rooms, OYO Hotels & Homes has a multi-brand approach. It further Introduced upgraded Co-OYO app for hotel partners to provide complete visibility on all business & customer metrics. The Old Oyo Empire held sway not only over most of the other kingdoms in Yorubaland but also over nearby African states, notably the Fon Kingdom of Dahomey in the modern Republic of Benin to the west. As of July 1, 2019. [62], In 2018, the company sent mass unsolicited job offer emails targeting senior- and mid-level employees of competitors. Oyo was launched in Gurgaon. "OYO has $1 billion to fund operations until IPO, says CEO Ritesh Agarwal", Sharing of customer data with the government, "With 8.5 lakh rooms, Oyo claims third spot globally", "How OYO became India's 3rd best company to work for in just 6 years", "OYO claims to be second-largest hotel group in China", "OYO Rooms Goes International; Launches in Malaysia", "OYO expands international presence with hotel launch in Nepal", "OYO and SoftBank form JV to launch hotels business in Japan", "OYO expands international presence entering Sri Lanka", "Hotel Unicorn Oyo Plots $300 Million Push into the U.S. Market", "At 21, He's the Mind Behind Multi-Million Dollar Start-Up OYO", "How OYO's Ritesh Agarwal transformed the business of budget accommodation", "HOW OYO ATTAINS HUGE HEIGHT IN THE MARKET AFTER USING AWS SERVICES", "Oravel founder Ritesh Agarwal wins Thiel Fellowship", "Ritesh Agarwal: Interview with founder of Peter Thiel-backed Oyo". History of Oyo State Oyo state was one of the three states carved out of the old western state of Nigeria on the 3 rd of February 1976 during states creation exercise which originally included Osun state but was later divided in 1991. [35] The company also announced two joint-venture with Softbank and Yahoo!Japan. OYO Rooms is an Indian virtual hospitality brand. [21], The company is currently valued at $10 billion[22] as per the last round of funding. The Oyo Empire was a Yoruba empire, and the Largest empire ever existed in West Africa, occupying most of what’s is today Southern Nigeria, expanding its territory to the nearby Republic of Benin. In the Oyo model, hotels are not owned, instead Oyo ties up with certain hotels and acquires a few rooms to be given to people who want to avail the services of OYO. History has it that the Oyo empire is the traditional empire of Yoruba land, although not the seat of Oduduwa, the founder of the Yoruba tribe. Oranmiyan founded the Oyo nation after he had established the bini dynasty, making him the first Alaafin (ruler) of the Oyo kingdom. Oyo was reduced in size when Osun state was created out of its eastern portion in 1991. However, it later branched out to become OYO rooms. The company's investors include SoftBank Group, Didi Chuxing, Greenoaks Capital, Sequoia India, Lightspeed India, Hero Enterprise, Airbnb and China Lodging Group. He was the son of Oduduwa. Shortly after launching Oravel Stays, Ritesh Agarwal received a grant of $100,000 as part of the Thiel Fellowship from Peter Thiel. Process Excellence and Customer Satisfaction: Can Disruptors Have Both. HISTORY OF OYO KINGDOM : The Oyo Empire was a Yoruba Empire of what is today western Nigeria, north central Nigeria and Western Republic of Benin. Oravel enabled listing and budget accommodation of hotel rooms and it, later on, got converted to become Oyo rooms. Ritesh Agarwal has been a wayfarer himself and travelled across the country before launching OYO and during such travels he discovered the problem with budget hotels. Established in the 15th century, the Oyo Empire grew to become one of the largest West African states. It focuses on standardizing the hotels in the non-branded hospitality sector. Oyo, state, western Nigeria. [14][15] OYO currently has over 17,000 employees globally,[16][17][18] of which approximately 8000 are in India and South Asia. Enough has been said and done. As of June 27, 2019. In March 2018, OYO acquired Chennai-based service apartment operator Novascotia Boutique Homes[32][33] marking its first major buyout as well as establishing its presence in the service apartment and corporate executive stay. The history of the Yorubas is not yet well established. Oyo like all African states on the coast engage in the slave trade. In 2012, Ritesh Agarwal launched Oravel Stays to enable listing and booking of budget accommodations. Its branding provides a franchise-like consistency of product. As of January 1, 2019. Today it has more than 330,000 rooms in 500 cities globally. The people created a government that established its power over a vast empire. Stay informed and join our daily newsletter now! Oyo is bounded by the states of Kwara on the north, Osun on the east, and Ogun on the south and by the Republic of Benin on the west. Organization chart. During the 17th century, Oyo began a long stretch of growth, becoming a major empire. History of Oyo State. Oyo, a pre-colonial kingdom in present-day Nigeria, was founded in the 1300s.Established by Oranmiyan of the Yoruba people of West Africa, Oyo quickly grew to become one of the most powerful states in the Yoruba-speaking region. Oyo state is traversed by the Yoruba Hills in the north. OYO in March 2019, announced a 1400 cr investment in its India and South Asia businesses over 2019 as a part of its efforts to increase infrastructure, strengthen technology and internal capability. It is a user-friendly app that helps customers to book rooms directly. [66], In August 2017, a 20 year old was raped in Oyo City hotel located at Banjara Hills. HISTORY OF OYO KINGDOM : Oyo progressive indigenes union. July 2015- Oyo bagged $100 million in Series C Round of funding from Japanese investor SoftBank. Retailers Less Crowded Due to Increasing Online Holiday Sales, Here's how the Best Places to Work have led in 2020, Personalized Gift Industry Is Up and Blooming With Innovative Companies Entering the Space. Oyo mesi can be regarded as kingmakers. In ancient Greece, the toy was made of wood, metal and terra cotta. And Agarwal, still young and who has a long way ahead plans to make it the world’s largest oldest chain by 2023! Oyo's 8-year-old Journey is a Quintessential Indian Legend in the Book of Business World Stories (Infographic) Oyo has transformed itself from being a … The tall and thin boy, Ritesh Agarwal has made a mark in the society when it comes to achieving great success at a very young age in life. Oyo state is traversed by the Yoruba Hills in the north. With a current valuation of nearly 360Cr, OYO rooms does nothing out of the box but provides travellers the coolest yet cheapest efficient, young, standardized rooms with no add-ons attached to it! Lies About Oyo Empire / Yoruba's After The Fall Of Oyo Empire / Oyo Empire - 1300CE (1) (2) (3) ( Reply ) ( Go Down ) Re: History Of The Oyo Empire by sammyjay3 ( m ): 1:50pm On Jul 03 , 2014 OYO has over 23,000 hotels, 8,50,000 rooms and 46,000 vacation homes across the globe. Group companies. history of oyo The ancient Oyo Empire, established by the Yoruba people, controlled a wide area between the Volta and Niger and rivers by the mid seventeen century. [38], In July 2019, OYO announced the acquisition of Innov8. In the Yoruba myth of creation of the universe, “Olódùmarè” is the Supreme Creator, who delegated His powers to the “Òrìsà”, giving them the … The company invests in capex,[19] hires GMs to oversee operations and customer experience as well as generating around a million job opportunities in India[20] and South Asia alone. History of OYO Corporation Overview of our history from 1957 to 2017. The 15 th Alaafin, Obalokun introduced salt.. [65], In October 2020, a 19 year old student was gang raped in an Oyo hotel room. Based to a large extent on the dynastic tradition of the formerly dominant Oyo clan, it is presently in the process of re-evaluation. "The rise (and fall?) Posted on August 15, 2019. Go ahead, explore. It also became a unicorn in September when it raised funding of $800 million from SoftBank and already had raised $200 million from its existing investors. Ritesh Agarwal (OYO Rooms Founder): Success Story & Life-History. Oyo rose to become the most important city state, surpassing Ife during the 1300s. In 2018, a 22 year old woman was raped by the OYO rooms demand manager. The Oyo Empire, with its capital at Old Oyo near the Niger River, prospered on regional trade and became a central facilitator in moving slaves from Africa’s interior to … [29], In 2019, OYO registered a revenue of USD 951 million, a 4.5 times increase on a year on year basis, as compared to USD 211 million. They re-established Oyo as more centralized and expansive than ever. It aggregates budget hotels and guesthouses, making inventory discoverable and bookable online. The Oyo Mesi developed as a check on the Alaafin’s power, preventing the Alaafin from being an autocrat; the Oyo Mesi compelled many Alaafin to commit suicide during the 17th and 18th centuries. OYO has also set up 26 training institutes for hospitality enthusiasts across India. [60][61], OYO has been accused of using predatory pricing and not following its own agreements including threatening hotels to unilaterally change some of the clauses or not be paid. 2019- With the backing of Greenoaks, Sequoia India, Lightspeed India, Hero enterprise and China Lodging Group as its solid group of investors, Oyo is not far from becoming a global success story, perhaps to some extent it has. Oyo-Ile was founded. The Oyo Empire was one of the most politically important states in the entirety of Western Africa from the mid-7th to the late 18th century, holding sway not … The Oyo State House of Assembly Service Commission was established in year 2007 by a Law cited as “Oyo State House of Assembly Service Commission Law 2007”, as a statutory body for providing manpower requirements for the service of Oyo State House of Assembly. Oranmiyan was the first king and the founder of the Oyo empire. Online platforms for budget hotels in India have been in the news. [64], In 2019, a 26 year old woman was raped in an Oyo hotel room. A teenage boy who is not only a millionaire but also the founder and CEO of OYO rooms, the fastest growing branded network of hotels both online and offline. Oyo is bounded by the states of Kwara on the north, Osun on the east, and Ogun on the south and by the Republic of Benin on the west. Home During his reign the river Niger was circumnavigated. Unlike other Yoruba states, which were located in the forest area, Oyo was situated in woodland savannah. Duncan was not the inventor of the yo-yo; they have been around for over twenty-five hundred years. Sàngó is a divinity among the Yoruba Òrìsà Pantheon, related to the mythology of the Yoruba Indigenous Religion known as “Èsìn Òrìsà Ìbílè”. For one, they are records of the lives and times of significant individuals whose histories intersect the trajectories of … OYO Hotels & Homes is a full-fledged hotel chain that leases and franchises assets. It came into existence when bands of Yoruba renegades following the collapse of the Yoruba Oyo Empire, began settling in the area towards the end of the 18th century; attracted by its strategic location between the forests and the plains. The history of Ibadan was traced to the reign of the great old Oyo empire (Oyo-Ile). 2015- In March of this year, Oyo received funding of a whopping amount of $25 million from its investors namely Lightspeed India, Seqoiua and others. Oyo never encompassed all Yoruba-speaking people, but it was the most populous kingdom in Yoruba history. Oyo rose to become the most important city state, surpassing Ife during the 1300s. Oyo now had the backing of one of the most prominent and powerful investors in the world. The teenage boy – Ritesh Agarwal is the young Founder & CEO of OYO Rooms – fastest growing Branded network of hotels offline & online. The mobile app was a catalyst in writing the success story of this hotel chain start-up that was to follow. 2011- Ritesh Agarwal, an 18-year-old college dropout, seemed to harbour dreams of entrepreneurship which compelled him to take the plunge with his first start-up Oravel. It's a managed marketplace of properties. 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