In a surprising move to engage the public in shaping its future, OYO’s founder Ritesh Agarwal has invited global suggestions for a new corporate brand name, offering a prize of Rs 3 lakh to the winning entry. The announcement was made via Agarwal’s official Instagram handle, sparking excitement across startup and tech communities.
This unique crowdsourcing initiative comes as OYO’s parent firm, Oravel Stays, prepares for a major rebranding exercise ahead of its upcoming IPO.
What’s the Task?
The company is not renaming the consumer-facing OYO hotel chain but the corporate umbrella brand that governs its various global ventures.
The new name should be:
One word
Bold, global, modern
Free from specific cultural or language ties
Suitable for a .com domain
Reflective of OYO’s ambition to expand beyond hospitality into broader tech-driven sectors.
Agarwal emphasized that the name must carry an identity suitable for international expansion and future tech ventures.
Attractive Reward: Rs 3 Lakh & a Meet With Ritesh Agarwal
Winner’s Prize: Rs 3 lakh cash.
Bonus Opportunity: The winner will also get a chance to meet Ritesh Agarwal in person, making this not just a financial reward but a networking goldmine.
IPO Preparations in Full Swing
This public engagement comes at a crucial time. OYO is working with five global investment banks to finalize its pitch for SoftBank in London this June as part of its IPO preparation.
For FY 2024–25:
Profit After Tax (PAT): Rs 623 crore (up 172% from last year’s Rs 229 crore).
Adjusted EBITDA: Rs 1,132 crore (up 27% YoY).
Marking ten straight quarters of EBITDA profitability.
This financial stability underpins OYO’s decision to aim for a fresh, globally relevant identity.
Possible New App Branding
Sources reveal that the winning name could also be used for an upcoming premium app targeting mid-market and luxury hotel bookings, sectors that are showing strong global growth.
