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Oyo another WeWork? Not likely, as startup shifts goal

Stung by rising costs and irate users, Indian decacorn puts the brakes on growth

Oyo founder and CEO, Ritesh Agarwal. (Photo by Subhash Sharma)

MUMBAI -- Ever since the WeWork megaflop, skeptics have sounded the alarm that other companies in SoftBank Group's Vision Fund are incinerating cash at the same feverish pace that eventually dashed the much-anticipated float of We Company, operator of the office-share.

In particular, they point to India's Oyo Hotels and Homes as another startup that is recklessly burning through piles of investor money.

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