Business Insider spoke to OYO employees— both existing and former— for insights on what led to hundreds of pink slips being doled out on Monday. The tremendous pressure for super fast growth on the $10 billion startup trickled down right from the founder Ritesh Agarwal to the last employee in the organisation. As OYO’s ‘fast and furious’ strategy backfired, it has left many lessons for India’s budding startups looking to rush for an IPO. OYO wanted to be the world’s largest hotel chain and has been entering the world’s biggest markets with one aim – conquer the market as fast as possible. It entered China market in 2017 and within 18 months went on to become the second largest hotel chain in the country. It has since then gone on to make a mark in the USA, Japan, Europe and other South Asian
Inside OYO’s offices — how a 'high pressure' work environment broke a promising startup brand
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