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Hospitality major OYO’s global chief marketing officer, Rohit Kapoor, has resigned from the company and will be joining on-demand delivery major Swiggy as its food delivery CEO.
According to two sources close to the development, Kapoor is currently serving his notice period at OYO and the exact date of his exiting the company is being negotiated. Kapoor will be the first food delivery CEO at Swiggy, which did not have this position until now. Entrackr was the first to report this development.
Kapoor joined OYO as CEO-New Real Estate Businesses in December 2018, and then moved to CEO-India and South East Asia role in March 2021. Later, in a major rejig, OYO moved Kapoor to Global Chief Marketing Officer in April 2022 and Ankit Gupta was elevated to CEO of OYO India from his earlier role of CEO-Franchise and Frontier Business, OYO India.
OYO’s IPO update
OYO is planning IPO in the last quarter of this year, according to a source close to the development. The company has asked for SEBI’s nod to file restated financial statements in September 2022 and is expecting to turn profitable soon, the source added. In October 2021, OYO filed preliminary papers with SEBI to raise ₹8,430 crore in an initial share sale.
OYO said it has added more than 1,250 new corporations since March 2022. The business recovery is said to be led by small and medium enterprises, traditional business houses and conglomerates, start-ups, travel management companies, as well as film production houses, as more and more people from these segments started opting for physical interactions.
OYO is a global platform that connects operators of hotels and homes with customers along with providing them with full-stack technology products and services. OYO said it offers 40+ integrated products and solutions to patrons who operate over 1,57,000 hotel and home storefronts in more than 35 countries including India and those in Europe and Southeast Asia, as of March 31, 2021.
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