Prism IPO: We Break Down the Business Beyond Oyo
Photo Credit: The Oyo app on an iPhone. Adobe Stock / picsmart
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Prism will ask shareholders this weekend to approve a $744 million IPO. What it isn’t saying, yet, is the valuation it’s aiming for. After years of expansion, restructuring, and mixed financials, the unanswered question is what the company is actually worth.
Prism, the parent of Oyo, is lining up a third attempt at an IPO, with shareholders set to vote Saturday on a plan to raise INR 66.5 billion ($744 million).
We'll be learning much more about Prism's business in the coming weeks as it releases more financial information for shareholders, but there's a lot we already know.
The business was incorporated as Oravel Stays in 2012. In 2013, Oravel pivoted to Oyo — the hotel brand most consumers recognize — soon after, building scale in budget accommodations across India and overseas.
But it has also been adding many other businesses. This year, the company rebranded itself as Prism, the corporate umbrella to reflect the much broader mix: hotels across price points, vacation rentals, U.S. motels, workspaces, events platforms, and a technology stack designed to run them all.
Prism claims more than 100 million customers across 35 countries. Here’s how it all lays out.
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