Oyo is ready to explore the public markets. The eight-year-old Indian budget hotel giant has filed the paperworks (PDF) with the local market regulator for an initial public offering, in which it is seeking to raise about $1.16 billion. The Gurgaon-headquartered startup — which offers an operating system of sorts to help hoteliers accept digital bookings, payments, […]
India’s Oyo to file for $1 billion IPO
Indian budget hotel chain startup Oyo is looking to file for an initial public offering as soon as next week, people familiar with the matter told TechCrunch, joining a handful of firms in the world’s second-largest market that are working to explore the public markets. The seven-year-old startup, founded by 27-year-old Ritesh Agarwal, is planning […]
Microsoft confirms investment in India’s Oyo in a multi-year strategic deal to co-develop travel and hospitality products
Microsoft has entered a “multi-year strategic alliance” with Oyo to work with the Indian startup to co-develop “next-generation” travel and hospitality products and tech. Thursday’s announcement confirms a late July TechCrunch report. TechCrunch had reported that Microsoft was in talks to invest in Oyo and was exploring ways to provide its technologies to the Indian […]
Microsoft backs India’s Oyo at $9.6 billion valuation
Microsoft has invested $5 million in Indian budget hotel chain Oyo, according to a regulatory filing this week. The investment confirms a TechCrunch scoop from last month. The new investment values Oyo at $9.6 billion, only slightly below the $10 billion implied valuation from the Indian startup’s previous financing round in 2019. The startup, which […]
Microsoft in talks to back India’s Oyo
Indian budget hotel chain Oyo may have lost a significant portion of its business amid the pandemic, but it is inching closer to finding a new investor: Microsoft. Microsoft is in advanced stages of talks to invest in Oyo, according to two people with knowledge of the matter. The size of the investment and the valuation are […]