Hotel Startup Oyo is in talks to acquire Innov8 co-working space
- Gurugram based hotel startup OYO is in talks with innov8 (a co-working space) to enter into co-working business.
- OYO made his debut in June last year as OYO co-living space, and if OYO is planning to acquire innov8 so, it will mark the development of OYO into co-working business.
- If we look at the development of OYO startup-
1. The startup has started its journey as OYO co-living
2. The event management, and
3. Long rental Holiday Homes
So, it is not surprising for us if OYO is entering into co-working space.
OYO startup motive is to leverage Innov8 co-working space capabilities to build its name or an essential space in the real estate industry as OYO will provide innov8 with a different and targeted audience.
According to the report “The settlement between OYO and Innov8 has been in the discussion stage from the past two months. But, the founder of innvo8 Dr Ritesh Malik and the team of OYO startup has not commented or confirmed about the deal.
OYO comes in the 2nd point as the company has raised sufficient funding.
If we look at the growth of OYO startup from 2016 to 2019 —
OYO startup has raised the competition for other related startups, and competitors Like — OYO startup becomes a complete stack real estate leasing company with above 10,000 corporate clients and a network of above 8000 asset owners or partners.
OYO is all set, and we can say that is established to compete with BHive, WeWork, Awfis, 91Springboard, and GoWorks among numerous others.