Oyo has a realised value run rate of $1.8 billion with 458,000 rooms as of December 2018, the company said in a statement. It saw 4.3X growth YoY globally, and brought in an estimated
global India revenue of Rs 1,400 crore in FY 2018-19, (update: growing at 3.5x YoY). Abhishek Gupta, Chief Financial Officer, OYO Hotels & Homes, said that the company brought down its losses from 50% to 10.4%.
Global stayed room nights (Annualised based on December run-rate)
- 6 million in December 2016
- 13 million in December 2017
- 75 million (99 million based on December 2018 peak) in December 2018 (5.7x growth on a YoY basis)
Oyo said that this has been because of an
- increase in “exclusive room supply”,
- 5.7X increase in stayed room nights
- consistent increase in commission incomes
It claims that a tie up with Oyo increases the occupancy level from 25% to 65% for standalone hotels. Oyo is now present in 500 cities across 8 countries.
Oyo’s investor SoftBank has reported an operating income of ¥ 808.8 billion, “reflecting the increase in the fair values of Uber, OYO, WeWork, and other investments.” This was up 70% from income of ¥ 236.4 billion in the same period last year. These figures are for the 9 months ending 31 December 2018.
Operating income from SoftBank Vision Fund and Delta Fund was ¥808.79 billion, compared with income of ¥236.42 billion in the same period of the previous fiscal year. This was because of:
- Realized gain of ¥ 146.68 billion on the sale of Flipkart Private Limited (“Flipkart”) shares in September 2018
- Unrealized gain of ¥693,2 billion recorded due to an increase in the fair values of Uber
- Oravel Stays Private Limited (OYO), and WeWork Companies, Inc
- There was an increase of ¥ 3656.7 billion in the fair value of investment in Uber, OYO and WeWork.
Foodpanda reported losses of Rs 227.95 crore for the year ended 31 March, 2018, up 80.3% from losses of Rs 44.82 crore in FY17, reports the Financial Express.
- Its revenue from operations was Rs 72.13 crore in FY 2018, slightly higher than the Rs 61.43 crore it reported for FY 2017.
- Expenses were Rs 162.64 crore in FY18 as opposed to Rs 107.08 crore in FY17.
In December, Foodpanda became available in 100 cities, with its own delivery personnel. It then claimed to have over 60,000 restaurants on its platform, with an aim to double this number by January 2019. A month before that, Foodpanda added 30 more cities to its repertoire, and was then present in 50 cities. In September 2018, it launched in 13 cities in partnership with 3,000 restaurants and 5,000 delivery agents.
According to an Economic Times report from last month, Ola has reportedly restricted its cash burn in Foodpanda by half to focus on running its private labels and cloud kitchens via Ola’s user base. This would help Foodpanda grow more efficiently, according to ET’s sources. Employees who had been moved from Ola to Foodpanda were also moved back to Ola, the report added.
Edit: The story has been updated to reflect that Oyo’s revenues were for India operations and not global, after Oyo issued a correction to reflect the same.