RedDoorz: The unlikely David to OYO’s Goliath in Southeast Asia
After years of growing in the shadows, budget hotel aggregator RedDoorz made a statement of intent by raising $115 million in 2019. Now, as it looks to conquer SE Asia, it’s on a collision course with OYO.
Ambitious OYO hasn't yet got to grips with the diversity of Southeast Asia, and now it has a freshly-minted rival focused on out-localising the $10 billion Indian startup
The rapid ascent of RedDoorz this year saw China’s Qiming and new growth fund Asia Venture Partners hitch a ride with their first deals in Southeast Asia
Like Uber vs Grab, RedDoorz is a story of a local underdog battling bigger global players with larger war chests: in this case OYO and Yanolja, a $1 billion startup from Korea
Online travel spending in Southeast Asia is tipped to more than double to reach $78B by 2025—the region already has unicorns in flight booking and activities, and the hotel booking space is primed for a challenger
If you were looking for the antithesis to OYO, the controversial $10 billion giant, then RedDoorz would be it. Both are budget hotel aggregators with India-born CEOs—Ritesh Agarwal and Amit Saberwal, respectively.
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