OYO to hire more than 300 techies over the next 6 months
Hospitality unicornhas announced that it will be doubling down on its tech and product teams over the next six months by hiring more than 300 technology professionals, including software developers, engineers, product managers, designers, and data scientists across entry-level to senior leadership roles.
In a statement, OYO said that it seeks to hire full-stack teams, Android and iOS developers, with key skill sets and expertise in the areas of Machine Learning, Data Engineering and Information Security. The expanded design, product and engineering teams will be responsible for building long-term capabilities for OYO from scratch and update the current tech stack.
"The travel technology player is set to introduce several innovations and commit to investments in technology, further optimising revenues for hotel owners, while improving the user experience for customers," it said in the statement. It further added that this step aims to focus on technology and sustainable growth to be on the path of profitability.
Ankit Mathuria, Chief Technology Officer, OYO, said,
”I joined OYO in January 2021 and so far, it’s been a journey full of excitement. There’s never a dull moment because everyone is driven by technology at OYO and everyone contributes — starting from the company’s founder to our frontline executives. We’ve been blessed to have a diverse pool of tech talent and believe that each new bright mind will bring gripping ideas to the table, ultimately leading towards our goal to build a tech-first global platform that truly sets the tone for the future of travel."
OYO has already begun onboarding over 50 mid-level tech talents, and around 150 campus recruits from top universities across India. The candidates will go through rigorous competency-based technical discussions followed by detailed conversations with OYO leaders. Additionally, approximately 100 offers will be rolled out in the upcoming placement season.
OYO said that the hiring will play a critical role in accelerating OYO’s transformation to a global full-stack technology provider for small and mid-sized hotels and homes. The hospitality major added that it believes in a total compensation and reward philosophy, and has, therefore, rolled out comprehensive pay packages, a combination of fixed pay, bonuses and stock options, for all, including freshers.
"In a constantly evolving technology space, the company provides upskilling opportunities for employees through several internal development programmes," the statement said.
OYO has been looking to ramp up its suite of technology products for the hospitality industry. Its tech stack includes its consumer and partner apps such as OYO, OYO OS, Co-OYO, as well as several applications led by Artificial Intelligence, Machine Learning and Analytics such as a dynamic pricing app called Tariff Manager, OTA (online travel agents) performance management, Discover OYO, personalised recommendations, Yo! Chatbot, among others.
The unicorn is in the advanced stages of raising an undisclosed amount of funding from tech giant Microsoft at a valuation of $9 billion. In July, when OYO announced its Term Loan B (TLB) funding of $660 million from global institutional investors, it said that it will utilise these funds to retire past debts, strengthen the balance sheet, and other business purposes, including investment in product technology.