n 2012, then 18-year-old Ritesh Agarwal, from Odisha's Rayagada district, launched Oravel Stays, a website for listing and booking budget lodging. After three months of research and staying in over 100 bed and breakfast homes, guest houses, and small hotels, he pivoted Oravel to OYO in 2013.[5]
Shortly after launching Oravel Stays, Ritesh Agarwal received a grant of $100,000 as part of the Thiel Fellowship from Peter Thiel.[6][7]
In January 2016, the company launched operations in Malaysia.[8]
In April 2017, the company launched operations in Nepal.[9]
In late 2017, OYO launched OYO Home, an Airbnb-like marketplace for short-term managed rentals. OYO Home has presence in more than 10 leisure destinations of India including Goa, Shimla, Pondicherry, Udaipur, Kerala etc. In April 2018, OYO launched its first international OYO Home in Dubai.[10][11]
In March 2018, Oyo acquired Chennai-based Novascotia Boutique Homes with adviser as ANOVA Corporate services.[12][13]
In October 2018, the company launched operations in Indonesia.[14]
In May 2019, Oyo announced that it would acquire Amsterdam-based vacation rental business @Leisure Group for €369.5 million
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