OYO Acquires Innov8 For INR 220 Cr In All Cash Deal
Post acquisition Innov8 founder Ritesh Malik will drive the company?s expansion under OYO. The Innov8 team will continue to remain intact post-acquisition.
- founder Ritesh Malik will drive the company’s expansion under OYO.
- Innov8 currently boasts of hosting 350 companies as members and claims to have a 95% occupancy across all its 15 coworking spaces with a combined seating of approximately 5,500.
- The report further said that the potential number of seats in the coworking industry stands at 12-16 Mn, of which the biggest proportion — 10.3 Mn — is attributed to large companies, 1.5 Mn to SMEs, and another 1.5 Mn to freelancers.