Why have Sequoia, Tiger, SoftBank and more invested $450 million in the Indian startup’s cryptocurrency?
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The company is now just another aggregator in the budget hotel sector. And the shift does make sense; OYO wants to cut losses and its India business isn’t all that important anymore.
Even as the chorus of the company’s turnaround seems to be gathering momentum, it appears that co-founder Ritesh Agarwal’s one-trick pony continues to be financial engineering.
There’s no such thing as a free lunch, and Hamster Kombat players have had to learn this the hard way.