Oyo, once hailed as India’s second-most valuable startup with a staggering valuation of $10 billion, has seen its market worth dramatically decline to $2.4 billion in a recent Series G funding roun

OYO founder Ritesh Agarwal has surely achieved a lot in a short span of time and now he has launched a VC-fund with focus on Indian startups. OYO has been in trouble for quite some time now.

OYO Rooms has announced today that the company will put some of its workforce on unpaid leave for four months from May 4.

OYO Rooms is facing tough times and the company recently announced that it would reduce its staff count in India and in other markets.

OYO has witnessed a strong growth over the last few years and the startup received major support from big investor SoftBank.