Softbank’s Dying Jewel in India: Oyo Rooms
With toxic culture and no clear path to profitability, are they on the highway to becoming WeWork?
“The culture is really very toxic.”
Those were the words of Mohammad Jahanzeb Gul, who supervised 23 Oyo properties for nine months since January 2019. He often found himself staring at the computer all day and night to meet deadlines. As Oyo continues to grow blazingly fast, current and former workers are feeling the pressure.
Toxicity ensured.
Some, are simply the inherent nature of a growth-stage startup. Some, are simply criminal acts.
Yet, Oyo still claims to strictly adhere to their Code of Conduct.
To some, it contributed to their decision to leave.
“There’s something called integrity,” said Saurabh Mukhopadhyay in a New York Times article, “I can’t compromise on that.”
It is clear why Mukhopadhyay would resign from the company: Oyo was rife with non-compliant, fraudulent and predatory business practices.
Last year, Bengaluru police booked Oyo founder Ritesh Agarwal and his representatives. A hotelier alleged it was a criminal breach of trust and that he was then cheated about US$149K from him.
