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<ul class="summary-list"><li><keyword id="424838" type="PERSON" weightage="60" keywordseo="Jack-Ma">Jack Ma</keyword> is resigning from <keyword id="163404" type="COMPANY" weightage="60" keywordseo="Softbank">SoftBank</keyword>'s board of directors effective June 25.</li><li>Ma has been a director at SoftBank for 13 years.</li><li>News of his departure came just as SoftBank posted a $13 billion loss, while Softbank's flagship vision fund suffered a $17.7 billion loss. </li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>Alibaba founder and China's richest man Jack Ma has left SoftBank's board of directors. The news comes just as the company announced it has suffered a record financial loss of $13 billion.Ma served on SoftBank's board for the past 13 years, and will officially resign on June 25 per a document from SoftBank.No official reason has been given for Ma's resignation, but the billionaire also <a href="https://www.businessinsider.com/alibaba-founder-jack-ma-steps-down-from-460-billion-empire-2019-9">stepped down as chairman of Alibaba</a>, the Chinese tech giant he founded, in September last year. SoftBank was not immediately available for comment when contacted by Business Insider.News of Ma's departure came just as SoftBank posted an annual operating loss of $13 billion. Meanwhile, Softbank's vision fund <a href="https://www.bloomberg.com/news/articles/2020-05-18/softbank-vision-fund-books-17-7-billion-loss-on-wework-uber">posted a record $17.7 billion loss</a> on Monday on the back of investments including <keyword id="2918346" type="PERSON" weightage="60" keywordseo="WeWork">WeWork</keyword>, <keyword id="1042120" type="PERSON" weightage="60" keywordseo="Uber">Uber</keyword>, and <keyword id="2808667" type="PERSON" weightage="60" keywordseo="OYO">Oyo</keyword>.Bloomberg reports Uber is responsible for roughly $5.2 billion of the SoftBank Vision Fund's losses over the last fiscal year, while WeWork totalled $4.6 billion and the rest of its portfolio made up $7.5 billion.SoftBank's $100 billion Vision Fund, spearheaded by CEO Masayoshi Son, has had a rough year for its portfolio. WeWork's valuation has tumbled 90% from its peak following its botched IPO, and members of WeWork's board are now <a href="https://www.businessinsider.com/wework-group-sues-softbank-for-failing-to-complete-stock-purchase-2020-4">suing SoftBank for backing out of an agreement to buy $3 billion of WeWork shares</a> as part of its bailout for the company.With the onset of the coronavirus, many of SoftBank's investments are in fresh peril — <a href="https://www.businessinsider.com/uber-announces-layoffs-3700-job-cuts-14-percent-employees-coronavirus-2020-5">Uber cut 14% of its worksforce earlier this month</a>, and <a href="https://www.businessinsider.com/uber-layoffs-another-round-of-thousands-cut-on-monday-source-2020-5">Business Insider's Julie Bort reports</a> it expects to cut thousands more jobs on Monday as the pandemic recession bites.Read the original article on <a href="https://www.businessinsider.com/jack-ma-steps-down-softbank-17-billion-loss-2020-5">Business Insider</a>

Jack Ma is stepping down from the board just as Softbank announced a record $13 billion loss

New Delhi, Dec 2 () Hospitality firm OYO on Monday said it has elevated Aditya Ghosh, currently chief executive officer (India &amp; South Asia) for the hotels and homes business, as a member of its board of directors.
 Rohit Kapoor, currently CEO of the new real estate businesses of the company, has been appointed as CEO (India &amp; South Asia) for OYO Hotels &amp; Homes, it added.
 Ghosh will join OYO Hotels &amp; Homes founder &amp; Group CEO Ritesh Agarwal, Baja Corporation founder &amp; CEO Betsy Atkins and other industry experts like Munish Varma, Bejul Somaia and Mohit Bhatnagar, among others, on the company's board, OYO Hotels &amp; Homes said in a statement.
 In his role on the board, Ghosh will focus on five key areas namely, safety and security, customer experience, corporate governance, revenue management and stakeholder communications, the statement said.
 "Ghosh's strong business acumen, problem-solving capabilities, passion for building an organisation with strong corporate governance and a high-performing work culture that thrives on principles of diversity and inclusion, make him the perfect choice for this larger and more strategic role, at a global level," OYO Hotels &amp; Homes founder &amp; Group CEO Ritesh Agarwal said.
 The decision will help OYO achieve its goals globally, he added.
 On the appointment, Ghosh said, "I am thankful to the board for inviting me into the august group to further build OYO as a global brand to reckon with, by not just growing fast, but growing right."
 Ghosh and Kapoor will "work closely through the coming month to enable a smooth and seamless transition", the statement said.
 Rohit's remit will now also span the operations of over 18,000 hotels across over 500 cities in India and South Asia, it added. AKT HRS

OYO elevates India & South Asia CEO Aditya Ghosh to board of directors

<ul><li>2020 turned the marketing world upside down. All businesses had to adapt and relook at their strategies. </li><li>More traditional brands moved online and increased their investments in digital marketing. </li><li>As we end our series, in today’s feature, we speak to new-age brands to find out how the pandemic impacted their perspectives towards marketing and a few trends that they expect to see this year. </li></ul>The ongoing pandemic has revolutionised how businesses function in the entire world. While COVID-19 pushed Indian brands to move online, it also made them relook at the tone of their marketing campaigns. As consumers tried to adjust to the new normal and heightened stress levels due to an uncertain future, advertising became more conversational and empathetic in 2020. Brands reminded their consumers and even their competitors that we are all in this together. According to Zeno, when a brand is perceived to have a strong Purpose, consumers were four times more likely to purchase from the brand and 95% of surveyed Indian consumers were likely to continue to support brands in the event that they were to make a misstep or receive public criticism. The pandemic has given the brandverse some time to pause, reflect, rework their strategies and they even kept aside competition to prioritise consumer interest. Consumers have started appreciating <keyword id="10689248" type="UNKNOWN" weightage="20" keywordseo="empathetic-advertising">empathetic advertising</keyword> instead of adversarial advertising, especially in stressed situations like extended WFH, threat of Covid and living away from their family members and friends. Apart from that, there was more conversation on AI, MI and XR. There will be more focus on videos, influencer marketing and hybrid events. With a new-found appreciation for life and altered perspectives towards marketing, we reached out to new-age brands to understand how did COVID-19 change their marketing approach and what are some of the trends that they expect to see in 2021. Here is what they said: Mayur Hola, Head of Global Brand, <keyword id="7036155" type="COMPANY" weightage="20" keywordseo="OYO-Hotels-Homes">OYO Hotels &amp; Homes</keyword>: <div type="image" title="Mayur Hola, Head of Global Brand, OYO Hotels &amp;amp; Homes" msid="80636771" hostid="261"></div> I thought I’d do some research for this one and read pieces posted by global consulting firms, A&amp;M publications, gurus, digital agencies et all. They were all super and gave guidance on personalisation, look-alike cohorts, selling on social, VR, chat bots, influencer marketing, programmatic, omnichannel, SEO, mailers, PNs, video content and so many other helpful things. But. We’re doing all this already. So is doubling down on what’s already working the new trend? I thought that was called common sense. Here’s the one trend I see in 2021. Delivering on your promise. Brands will speak 1:1 with their consumers more than ever and look to deliver what is asked of them. Because false promises and random unconnected purpose is being seen through and called out. Doing right by your consumers. There’s your purpose. Now put out some awesome creatives based on that. Rahul Deorah, Vice President- Marketing at Urban Company: <div type="image" title="Rahul Deo urban clap" msid="80636860" hostid="261"></div> Marketing has always been about understanding how a consumer reacts to certain triggers and how brands can use that to influence them. The year 2020 made us all think on our feet. Everyone had to go back to the drawing board to think of how to communicate the “safety” of purchasing or availing their products and services. However, in 2021, the trend I foresee emerging is deeper investment in the core consumer offering and, with consumer media habits changing, a declining trend in the absolute investments by brands to reach customers, with deeper efficiencies in the media mix. Naresh Krishnaswamy, Growth &amp; Marketing Head, Cure.fit: <div type="image" title="naresh-krishnaswamy-curefit" msid="80636918" hostid="261"></div> We have seen massive upheavals last year in terms of marketing with consumer focus shifting primarily to digital channels owing to the pandemic. While such changes and shifts in trends happen each year, last year in particular saw a faster pace of change in marketing strategies and execution, opening up a great vistas for innovation and experimentation. Going into 2021, I expect the trends from 2020 to still continue. This coming year might mark a comeback for some companies who may up their marketing strategies in accordance with lessons learned from 2020. To solidify their positions in the market, brands need to focus on the development of a deeper level of trust with their customers. People will continue to place a higher premium on trust and transparency and companies need to be able to communicate efficiently with their customer base. Moreover, with some pandemic-related restrictions still in place, virtual events and platforms will continue well into the coming months. While there is some amount of burn out from online events, there is also scope for further innovation. Marketers will have to be prepared for technological advancements. Emerging technologies, automation, AI/ML, augmented reality, etc. can heighten the immersiveness of such experiences and create space for more one-on-one interaction with audiences. More marketers should shift their focus on creating more enhanced consumer experiences online while we wait to physically get back to our previous lives. Kartik Johari, Vice President, Nobel Hygiene: <div type="image" title="Kartik johari nobel" msid="80636931" hostid="261"></div> Consumer Trends: Consumer spending will moderately rise, but economic woes will start weighing down on people. So far, we have survived the lockdown and the macroeconomic situation by burning our accumulated wealth and health. Sooner or later, there is bound to be a deep impact on our collective national psyche, of worsening unemployment, of a worsening economy, healthcare, etc. Additionally, areas such as healthcare and personal care have taken an irrevocable step forward. We will see more growth on this front. People will focus on their physical health and will reorganize their time around it. There will be new problems to face, with a growing threat from medicine-resistant bacteria, growing now due to a heightened consumption of hand-sanitisers. Value-based spending and ecologically sensitive spending is here to stay. People will henceforth buy/support brands with a similar ethos (true or not, is immaterial). Similarly, brands' efforts towards minimizing their carbon footprint will be appreciated by consumers. Market Trends: Hygiene and FMCG will trend upwards, while other indicators will remain muted. Even IF the vaccine is successful, our market dynamics have not improved overnight. We are still an agrarian economy, without adequate public infrastructure on healthcare and education. We will require massive government spending to boost our market performance. Markets will remain in a state of limbo as they are now, wildly volatile and without impetus. We are now going into the 13th year without a market correction; at some point, this is bound to catch up. Online Trends: Video content all the way, and a permanent boost to eCommerce. People have become comfortable consuming content and making transactions online, including using E-Wallets. However, apart from the obvious, only time will tell which long-term trends will sustain. There will be a boost in services that can help effectively target individuals in this new crowded realm, and some that can help them make sense of the breadth of content and services available. Teaching and Training will have permanently moved online, and the sector will continue to grow tremendously, and will also help other sectors to aid in ancillary teaching services in person. Dunzo's brand team: <div type="image" title="dunzo mascots" msid="80636941" hostid="261"></div> One of the most important takeaways from 2020 for all content lovers has been the stories that uplift and inspire them. In a changing world, stories of the human spirit and the impact we as individuals and brands can have in our world, resonate most with users and customers. Going forward, we hope to keep that positive trend going with more stories from our community, touching on important human issues, and delivering some hope and delight with every post. Another trend we foresee is the continuation of moment marketing and putting our brand's unique spin on a viral sensation. It's always like an inside joke that is shared by a large audience, with no need for explanations or context. Finally, as we focus on quality over quantity, we plan to dive deeper into some of Dunzo's impact and inner workings through mediums such as podcasts and blogs. Using a combination of all three trends, we hope to expand our audience as well drive stronger engagement and shareability of content.

Marketing: Trends to watch out for in 2021

OYO Hotels &amp; Homes, the world’s second-largest and fastest-growing chain of hotels, homes, managed living, and workspaces, is enabling micro-entrepreneurship opportunities for thousands of real estate owners and helping them build a successful business. The company’s innovative business model turns around assets that were either lying unused or operating at standards that are not at par with the industry, into spaces that generate high yields, hence, turning many of these asset owners into crorepatis. Some of these asset owners who have seen tremendous success with their properties after joining hands with OYO belong to Gujarat. As Deepak Shah, an asset owner from Ahmedabad, says, “It has been three years since I have been managing this hotel with family along with OYO’s support. The biggest challenge for me earlier was to approach clients and market my hotel. With OYO and its support, marketing my property and getting clients to take notice was no longer a worry. Our property is at a convenient location that is in close proximity to different corporate offices making it a preferred place to stay. We have an in-house multi-cuisine restaurant and also have the facility of outdoor seating in the terrace area which can be booked for different occasions. Owing to great marketing, quality accommodation and customer service that we have been able to provide with OYO’s help has resulted in a 90% occupancy on average. It has been a very fruitful association with OYO and we aim to continue with this in the years to come.” OYO is continuously working with 500+ strong asset owner community in Gujarat to build successful and sustainable businesses. In line with this, OYO plans to expand and hire 2000+ employees across multiple functions, including Business Development, Operations, Service, Sales and Enterprise Partnerships, in the next one year in Gujarat to empower asset owners and enable them to ensure a great hospitality experience for guests, hence, increasing yields. Further to this, OYO also announced its partnership with Mountania Developers, to open the doors to its first upmarket business hotel in Ahmedabad, Gujarat. How can you be benefited after becoming an asset owner with OYO? Twofold value proposition OYO offers asset owners a two-fold value proposition. First, OYO provides partners with the necessary capital to bring a building up to OYO's standards. Moreover, it also leverages available data to predict RevPAR, internal rate of return and ROI. With these details, OYO can indicate yield guarantee to the underlying asset owner. End-to-End Support OYO invests in the assets alongside asset owners to offer end-to-end solutions and support. Right from offering free design consulting to upgrading and transforming hotel infrastructure, to easing access to finance, transparent payment protocols, multiple touch-points, marketing excellence, tech innovation and regulatory compliance assistance ----OYO’s focus continues to be on generating high yields for asset owners along with offering excellent customer service. OYO can transform and renovate assets in a record time of 3-14 days and on-board them at an even quicker pace — a stark contrast to the industry standard of up to 90 days. Increase in Occupancy An asset owner, Rick Patel, based in the US elaborates on the jump in occupancy. He says, "Before OYO, our occupancy was about 20-25% and now, we are running at about 80% occupancy. We have never reached this occupancy rate before in the last 5 years. I would definitely recommend OYO to my friends and family interested in getting into the hospitality industry. My experience with OYO has been amazing. The team is great to work with, very energetic and supportive. We are just looking forward to the next level." OYO brings to the table a successful model of combining design, hospitality, and technological expertise, financial acumen and operational capabilities to real estate owners around the world, giving them the ability to get a higher return on investments, access easy financing opportunities, transform their hotels, and offer good quality customer service, thereby significantly increasing occupancy and profitability – in every OYO building. There are over 35,000 of these buildings worldwide. OYO has been able to generate a high yield for asset owners by maintaining 70-80% occupancy, which is often an issue with an asset-light model. On an average, over 75% of hotel owners associated with OYO have seen an increase of 20-30% in occupancy, a 2.5 x jump in RevPar and a significant jump in profit, for every asset operating as an OYO-branded property. Another asset owner, Narendra Saini from Ahmedabad, says, “It has been three months since my partner and I joined hands with OYO and are already witnessing great results in terms of occupancy and yields. Prior to joining hands with OYO, our main challenge was promoting our hotel through different channels. There was a time when in the offseason we used to get only 25-30% occupancy which now, post associating with OYO, has jumped to more than 80%. With OYO, it has been a true collaboration of sorts where we both are mutually benefitting. Our hotel witnesses bookings from corporate clients. We have an in house restaurant and are soon going to open a multi-cuisine rooftop restaurant by next month.” Best Pricing Mechanism in the Industry OYO has introduced dynamic pricing in the hospitality industry to create a level-playing ground even for an independent or small hotelier. OYO’s pricing, inventory allocation, and revenue management are driven by a machine learning-based algorithm for prediction and dynamic pricing. The algorithm makes 60 million micro-optimizations, every day, to arrive at the optimal price point that ensures an affordable stay for guests while driving higher yields and occupancy for the asset owner. Above &amp; Beyond To further support the business goals of asset owners, OYO launched OYO Partner Engagement Network (OPEN) in India - an industry-first series of year-long initiatives. This was followed up with another industry-first initiative called ‘Cash in Bank’ facility to offer asset owners across India quick, hassle-free and collateral-free business advances to upgrade or renovate their buildings, with the never seen before ease, turnaround time, and convenience. This will further help asset owners improve the guest experience along with direct and repeat rate that’s already approximately 90%. OYO also introduced Partner Privilege Program in India to boost asset owner success and growth on the one hand and create a mechanism for continual engagement and recognition on the other. The Partner Privilege Program provides exclusive benefits and opportunities to OYO India’s top-performing hotel owners for their personal and professional advancement. Amol Dhir, an asset owner from Agra and a member of OYO India Partner Advisory Council, says, “I strongly believe that getting affiliated to a brand like OYO can help the small, unbranded hotels in tapping the guests within the brand ecosystem. OYO’s sales team is fabulously supporting my hotel. They are running the show from behind the curtain, where a number of sales representatives, are pitching my hotel, even beyond the country’s boundaries to intended travellers.” On his partnership and journey with OYO, Amol says, “When I joined this hotel 12 years back I had a big vision for it, perhaps way too big than what my grandfather, my father and my family had for this hotel. I wanted a support system, a partner who could assist me in this. One day people from OYO walked in and they pitched me the idea of getting my hotel onboarded. I felt that they were just the right people who I could entrust my idea and push my vision further and we could grow along. The biggest change I found when OYO came along was how tech-savvy they were. Now, sitting at home I get to check the occupancy reports, employee management, booking and revenue reports. As an independent hotelier, I could not have achieved this or would have taken a little longer to get there. Technology with OYO became more accessible, affordable. Our life as a businessman became easier through this technology. For me, OYO has always been a partner and it is giving us various opportunities to get featured and grow along.” If you are inspired by these success stories, you can know more about how to become an asset owner with OYO here: <a href="https://partner.oyorooms.com/in">https://partner.oyorooms.com/in</a> Disclaimer: This article is a part of a commercial partnership Oyo and Business Insider India.

Here's how OYO is enabling micro-entrepreneurship and creating crorepatis—many of them are from Gujarat

New Delhi, May 1 () Hospitality firm OYO Hotels &amp; Homes on Friday announced the appointment of former Starbucks Corporation chief operating officer Troy Alstead as an independent director. As an independent member of the board, Troy will play a supervisory role and provide guidance to the founder and the management on key business decisions, the company said in a statement. "Troy brings tremendous operating and governance experience that will help us continue delivering on our mission to help millions of middle-income people around the world gain access to quality accommodations at different price points," OYO Hotels &amp; Homes founder and Group CEO Ritesh Agarwal said. As OYO continues to grow and to deepen its relationships with asset owners and consumers around the world, it is fortunate to have seasoned professionals like Troy on its board of directors, he added. "OYO, with its unique asset-light business model and strong data capabilities, is creating something entirely new for more than 3 billion middle-income travellers and city dwellers who need accommodations that meet their standards and also their budgets," Alstead said. AKT ABMABM

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Jack Ma is stepping down from the board just as Softbank announced a record $13 billion loss

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OYO elevates India & South Asia CEO Aditya Ghosh to board of directors

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Marketing: Trends to watch out for in 2021

Karuna Sharma

Here's how OYO is enabling micro-entrepreneurship and creating crorepatis—many of them are from Gujarat

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OYO appoints former Starbucks COO Troy Alstead as independent director

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