The Oyo Kingdom, as with other states of the Yoruba people in the southern coastal area of West Africa (modern Nigeria), claimed descent from an exiled king of Ife (11-15th century CE). [26], Founder & CEO, Ritesh Agarwal, through RA Hospitality Holdings (Cayman)[27][28] in 2019 signed a $2 billion primary and secondary management investment round, supported by global institutional banks and his financial partners, subject to regulatory and shareholder approvals. The 22 nd Alaafin Ojigi was the first to make Dahomey a tributary of the Oyo kingdom. Although archaeology has yet to discover concrete connections between the various successive states of what is today Nigeria, oral traditions, such as those in the Kingdom of Benin (13-19th century CE), located just to the east of Oyo, tell of a king of Ife who not only sent a prince to rule other areas of the region but also sent a mast… Duncan was not the inventor of the yo-yo; they have been around for over twenty-five hundred years. In 2018, a 22 year old woman was raped by the OYO rooms demand manager. Oyo rose to become the most important city state, surpassing Ife during the 1300s. Oyo is bounded by the states of Kwara on the north, Osun on the east, and Ogun on the south and by the Republic of Benin on the west. Based to a large extent on the dynastic tradition of the formerly dominant Oyo clan, it is presently in the process of re-evaluation. Retailers Less Crowded Due to Increasing Online Holiday Sales, Here's how the Best Places to Work have led in 2020, Personalized Gift Industry Is Up and Blooming With Innovative Companies Entering the Space. In March 2018, OYO acquired Chennai-based service apartment operator Novascotia Boutique Homes[32][33] marking its first major buyout as well as establishing its presence in the service apartment and corporate executive stay. OYO Hotels & Homes, a young hotel startup, today is the world’s leading chain of hotels, homes, and spaces. This has been described as a threat to privacy. The portfolio combines fully operated real estate … [39], In August 2019, Oyo made its first major investment in the United States by purchasing the Hooters Casino Hotel, near the Las Vegas Strip, in partnership with US-based real estate company Highgate, for $135 million.[40][41][42]. In ancient Greece, the toy was made of wood, metal and terra cotta. The Oyo Empire flourished from the 17th to 19th century CE in what is today southwest Nigeria. The capital of the state was moved from old Oyo (Katunga) in 1930s and the Alaafin (Lord of the palace) of Oyo kingdom still reside in the city. Posted on August 15, 2019. You won’t need a taxi – just a comfy pair of shoes and a curiosity about the most entertaining street on the planet. He was the son of Oduduwa. Oyo, state, western Nigeria. [63], Oyo has been involved in numerous rape scandals. As of July 1, 2019. After undertaking months of research and staying in various bed and breakfast homes, guest houses, and small hotels across India, he renamed Oravel to OYO in 2013. Oyo now had the backing of one of the most prominent and powerful investors in the world. The Yoruba of Oyo went through an interregnum of 80 years as an exiled dynasty after its defeat by the Nupe. In 2012, Ritesh Agarwal launched Oravel Stays to enable listing and booking of budget accommodations. [30], In March 2016, OYO acquired the team of Qlik Pass, founded by Rahul Gupta & Rishi Swami to setup and lead its Data Science Department.[31]. A teenage boy who is not only a millionaire but also the founder and CEO of OYO rooms, the fastest growing branded network of hotels both online and offline. Thus at the mere age of 17, he launched Oravel travels, which he modelled after Airbnb. Lightspeed Venture Partners, and Sequoia India, OYO's early supporters, are selling part of their holdings in order to help the founder increase his stake and thereby commitment while remaining invested significantly in the company's long-term mission. Process Excellence and Customer Satisfaction: Can Disruptors Have Both. History of Oyo Town and Oyo Empire Oyo is a city in Oyo State, Nigeria, founded as the capital of the Oyo Kingdom in the 1830s and known to its people as 'New Oyo' (Ọyọ Atiba) to distinguish it from the former capital to the north, 'Old Oyo' (Ọyọ-Ile), which had been deserted as a result of rumors of war. OYO Hotels & Homes was founded by Ritesh Agarwal, the first resident Asian to be accepted to the Thiel Fellowship (started by Paypal founder Peter Thiel). [21], The company is currently valued at $10 billion[22] as per the last round of funding. After undertaking months of research and staying in various bed and breakfast homes, guest houses, and small hotels across India, he renamed Oravel to OYO in 2013. History . * 1 Ancient history * 2 Yoruba origin mythology * 3 After Oduduwa * 4 Golden age The Old Oyo Empire held sway not only over most of the other kingdoms in Yorubaland but also over nearby African states, notably the Fon Kingdom of Dahomey in the modern Republic of Benin to the west. As of June 27, 2019. Based to a large extent on the dynastic tradition of the formerly dominant Oyo clan, it is presently in the process of re-evaluation. The capital of the state was moved from old Oyo (Katunga) in 1930s and the Alaafin (Lord of the palace) of Oyo kingdom still reside in the city. 2013- Agarwal was also selected for Thiel Fellowship, a 2-year-old program started by the founder of Paypal which gave him funding of $100,000 to pursue and make real the idea of his start-up. 2016- In January, first month of the year itself, the hotel chain hit the 1 million check-ins mark and also made an advent outside India into the Asia Pacific market, beginning with Malaysia. Linguistic evidence suggests that two waves of immigrants came into Yorubaland between 700 and 1000, the second settling at Oyo in the open country north of the Guinea forest. [12][13], OYO partners with hotels to give similar guest experience across cities. History of Oyo State Oyo state was one of the three states carved out of the old western state of Nigeria on the 3 rd of February 1976 during states creation exercise which originally included Osun state but was later divided in 1991. For one, they are records of the lives and times of significant individuals whose histories intersect the trajectories of … Oyo state is traversed by the Yoruba Hills in the north. [65], In October 2020, a 19 year old student was gang raped in an Oyo hotel room. Oyo-Ile was founded. Entrepreneur India. The history of the Yorubas is not yet well established. [24], In Feb 2019, Oyo got $100 million from a Chinese company (DIDI CHUXING) [25], In October 2019 – Series F funding of $1.5 billion led by SoftBank Group, Lightspeed Venture Partners and Sequoia India. Oranmiyan was a very brave and warlike king. This year proved to be a financially fulfilling year. Oravel enabled listing and budget accommodation of hotel rooms and it, later on, got converted to become Oyo rooms. Read More. Oranmiyan was the first king and the founder of the Oyo empire. [59], In 2019, OYO rooms plans to implement a digital register mechanism which will allow it to share customer data in real time with the government. OYO Hotel and Casino Las Vegas, formerly Hooters Casino Hotel, is located at the south end of the Las Vegas Strip. In December 2012, OYO Rooms received seed funding. Online platforms for budget hotels in India have been in the news. "OYO to add over 3,000 employees in India", "OYO plans mass recruitment in India to boast of 12k staff by year-end", "OYO announces Rs 1,400 crore investments, launches new property 'Collection O' targeting millennials", "Have created over 1 lakh direct and indirect jobs in India: OYO", "OYO opens Gurgaon campus, plans to launch a skill training center", "India's Oyo valued at $10B after founder purchases $2B in shares", "India's budget hotel startup OYO raises $1B for international growth", "China's Didi Chuxing invests $100 million in Oyo", "Oyo gets $100 million from China's ride-hailing giant Didi Chuxing", "Ritesh Agarwal to invest $700M in Oyo's new $1.5B financing round", "Ritesh Agarwal's Cayman based firm to bring funds to Oyo", "Ritesh Agarwal sets up RA Hospitality in Cayman Islands to drive Oyo funding", "Ritesh Agarwal to deploy $2 billion in his hotel startup OYO to boost stake", "OYO has seen 4.4 times y-o-y growth in revenue in June 2019, says founder and group CEO Ritesh Agarwal", "OYO acquires Chennai's Novascotia Boutique Homes", "Oyo acquires Chennai-based Novascotia Boutique Homes to expand corporate offering", "OYO acquires wedding marketplace Weddingz", "Hotelbeds & Oyo Hotels & Homes announce strategic distribution partnership", "Airbnb confirms stake in India's OYO, sources say it invested $150M-$200M", "India's budget hotel startup Oyo enters co-working business with $30 million Innov8 acquisition", "Oyo buys Las Vegas Hooters Hotel in its first US purchase", "India's Oyo Rolls Dice With Purchase of Las Vegas Hooters Hotel", "Budget hotel chain OYO launches OYO Townhouse", "In trying to be the Indian Airbnb, OYO may be turning too cumbersome", "Unlocking Homes for Great Holiday Experiences", "Airbnb-backed OYO moves into Europe, buys Leisure Group from Axel Springer for $415M", "OYO to acquire Amsterdam based vacation rental company @Leisure Group", "Oyo to invest $335M in vacation rental business in Europe push", "OYO to scale up its SilverKey hotels portfolio to 19 cities across India", "OYO plans big focus on serviced apartments for corporate clients", "India's Oyo launches Capital O hotels in the UAE", "Oyo forays into leisure segment with Palette Resorts", "OYO forays into upper-end leisure resorts category; launches Palette Resorts", "OYO woos biz travellers with Collection O; ups investment", "OYO's Collection O Hotels reaches milestone 175 buildings in 3 months", "Why OYO Life is betting big on the co-living market in India", "Oyo looks to enter student housing and co-working, to expand co-living segments", "OYO launches OPEN programme for asset owners", "Oyo Rooms wants to share digital record of your check-ins with government", "Oyorooms with new concept of data sharing with government authorities", "Budget hotels teaming up to take legal route against Oyo", "All's fair in talent war: Oyo targets staff at rivals", "Shocking! They re-established Oyo as more centralized and expansive than ever. Oyo never encompassed all Yoruba-speaking people, but it was the most populous kingdom in Yoruba history. HISTORY OF OYO KINGDOM : Oyo progressive indigenes union. [1][2][3][4] Founded in 2013 by Ritesh Agarwal, OYO initially consisted mainly of budget hotels. With a current valuation of nearly 360Cr, OYO rooms does nothing out of the box but provides travellers the coolest yet cheapest efficient, young, standardized rooms with no add-ons attached to it! [35] The company also announced two joint-venture with Softbank and Yahoo!Japan. Shortly after launching Oravel Stays, Ritesh Agarwal received a grant of $100,000 as part of the Thiel Fellowship from Peter Thiel. The empire harbours two great forest reserves in Oke Ogun and Oyo-Ile areas, which were upgraded to form the national park. Oyo is bounded by the states of Kwara on the north, Osun on the east, and Ogun on the south and by the Republic of Benin on the west. 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