Oyo says it has capital runway of 3-4 years, will not exit any market1 min read 28 May 2020, 06:00 PM IST
In recent months, Oyo, which has a footprint in 80 countries, has been cutting costs to conserve cash
The company cut thousands of jobs, reduced salaries and put employees on furlough
BENGALURU : Hospitality unicorn Oyo Hotels and Homes founder Ritesh Agarwal said the company has more than $1 billion in cash, which is enough to run its business for at least three more years without raising capital and clarified that the company does not plan to exit any of its markets at present, despite the collapse in the hotel business globally following the coronavirus outbreak.
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