Will there be no room for India's OYO in a post-COVID world?

Last week, in a video message to Oyo employees, the company’s 26-year-old founder Ritesh Agarwal admitted that its revenues had plunged by “over 50-60%” in recent weeks, and that its cash “runway has come under severe stress.” In response to this crisis brought about by the covid-19 outbreak, he said Oyo will reduce “every controllable cost,” cut capital expenditure and abandon its pursuit of acquisitions.