• About
  • Contact
Wednesday, January 27, 2021
Next Big Brand
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Agency
  • Industries
  • FMCG
  • Automobile
  • Retail
  • Tech
  • Case Study
  • Interview
No Result
View All Result
Next Big Brand
Home New posts

OYO and Freshmenu Negotiating over Acquisition for $60 Mn

Sourav by Sourav
February 22, 2019
in New posts, Startup
3 min read
0
oyo rooms funding

oyo logo

Share on FacebookShare on Twitter

Oyo Hotels, recently named the second most innovative company to come out of India, is currently in talks with Freshmenu to acquire the brand. Allegedly, the negotiation sum is around 50-60 Million USD and the acquisition is subject to due diligence at the moment.

A source that is close to this deal said “The move will help Oyo standardize its food experience across hotels, an initiative that has internally been in the works for more than a year,” The different source further elaborated on the deal saying “It will also significantly help improve margins,”

Food is, obviously a huge part of the hospitality industry. By standardizing their menu and recipes, OYO will certainly move up in the hospitality industry, in terms of the value it offers its customers.

Why does Freshmenu want to sell itself?

Freshmenu had been expecting a series C funding of close to 55 million USD. However, investors did not have as much a high opinion of the company as the company itself. As a result, they received a bridge funding that was worth a total of 21 Crore INR. Investors were disappointed with Freshmenu’s inability to scale up its operations, which is why the funding was lower than the expected amount.

This development has led FoodVista, the company that owns Freshmenu, to initiate sales talks. These sales talks have been happening for close to a year. The brand has been negotiating with various other entities including Swiggy, Zomato, EatFit, Ola, Faasos. However, none of these sales have gone through due to the breakdown in negotiations.

When asked about the Freshmenu’s self-valuation of 60 Million, a spokesperson from OYO said “We do not comment on industry speculations and therefore cannot comment on this. As the largest hotel chain in India, operating franchised and lease assets, we do have an active play in the F&B business with over 25% of our revenue coming through the kitchens we operate in our hotels and hence culinary design and good food experience are valuable to us. We have nothing further to announce at the moment,”oyo rooms

What is Freshmenu?

Freshmenu is a start-up that controls all processes from sourcing ingredients to cooking and delivering food. It is an internet-first cloud kitchen startup. In 2018, Freshmenu had partnered with Zomato when the latter wanted to work on its own cloud kitchen initiative called Loyal Hospitality. They also partnered with Swiggy’s Access programme in order to scale up their business successfully without receiving any kind of upfront investments for them to open more kitchens.

Oyo’s success continues

Oyo recently received a fresh round of series C funding that is worth 1 Billion USD. Their investors include Softbank, Grab, and Didi Chuxing. Ever since the brand has received this funding, they have been on a vigilant lookout for buyouts. Now, it seems as though they have found the perfect company to acquire. Improving their food and beverage services is an organic and great step for Oyo.  

Previous Post

Zee5 and Dialog Collaborate to Offer content in Sri Lanka

Next Post

Swiggy To Gobble up Uber Eats!

Sourav

Sourav

Excellent story-teller, with a background in SEO and Digital Marketing. Likes to write and give form to opinion and incidents.

Related Posts

Jeff Bezos and Elon Musk Increased their Net Worth by $217 Billion in Pandemic Year
New posts

Jeff Bezos and Elon Musk Increased their Net Worth by $217 Billion in Pandemic Year

January 4, 2021
Unacademy Acquires Live Learning EdTech Platform NeoStencil
News

Unacademy Acquires Live Learning EdTech Platform NeoStencil

December 31, 2020
Bewakoof: Entrepreneurship Journey of two IITians to Leading Quirky Fashion Apparels
Case Study

Bewakoof: Entrepreneurship Journey of two IITians to Leading Quirky Fashion Apparels

December 28, 2020
How Ed-Tech Startups Took benefit of Pandemic
Case Study

How Ed-Tech Startups Took benefit of Pandemic

December 25, 2020
Postman: Journey of a Side Project to the Leading API Platform
Case Study

Postman: Journey of a Side Project to the Leading API Platform

December 24, 2020
Indian Unicorns 2020- Next Big Brand
Case Study

Indian Unicorns 2020: 11 Startups From Pine Labs To Dailyhunt

December 22, 2020
Next Post
swiggy ubereats

Swiggy To Gobble up Uber Eats!

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RECOMMENDED NEWS

Amazon has dethroned all the major giants including Google and Apple (courtesy Arab News)

Apple remains supreme, brand value crosses $200 billion

2 years ago
Volkswagen Group India- Next Big Brand

Volkswagen Group Units Merge To Become Skoda Auto India

1 year ago
Swiggy facts 2019

Swiggy Summing Up Their 2019 Journey.

1 year ago
OTT Platform

Government Talks On Certification For Netflix, Amazon Prime, Other OTT Platforms

1 year ago

FOLLOW US

  • 22.6k Fans

BROWSE BY TOPICS

2018 League amazon Amazon Great Indian Sale Amazon Prime Apple Apple Inc Automobile Industry Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan facebook Facebook app future group hotstar Indian OTT Platforms Indian Smartphone Market Istana Negara Jio Market Stories Maruti Suzuki National Exam Netflix Netflix India Netflix Originals oppo OTT OYO Realme Reliance Industries Limited Reliance Jio RIL Samsung Tata Motors Tiktok TikTok India TikTok Videos Visit Bali Vivo whatsapp Xiaomi Xiaomi India YouTube
Next Big Brand

We Talk About Brands

Follow us on social media:

Recent News

  • Padma Shri for Zoho Founder Sridhar Vembu and Business Tycoon Mrs. Rajni Bector
  • Clubhouse: Audio Based Social Media App Everyone’s Talking About
  • TCS Surpasses Mukesh Ambani’s RIL to Become the Most Valued Indian Company

Instagram

Follow Me!

Latest News

Padma Shri for Zoho Founder Sridhar Vembu and Business Tycoon Mrs. Rajni Bector

Padma Shri for Zoho Founder Sridhar Vembu and Business Tycoon Mrs. Rajni Bector

January 26, 2021
Clubhouse: Audio Based Social Media App Everyone’s Talking About

Clubhouse: Audio Based Social Media App Everyone’s Talking About

January 26, 2021
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Agency
  • Industries
  • FMCG
  • Automobile
  • Retail
  • Tech
  • Case Study
  • Interview

© 2019 NBB. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.