wordpress blog stats
Connect with us

Hi, what are you looking for?

, , ,

Airbnb invests $150-200 million in Oyo: Reports

On April 1, home-rental firm Airbnb confirmed it had invested in Gurugram-based Oyo. While the companies did not disclose figures, various reports including one from the Economic Times pegged Airbnb’s investment at $150-200 million (Rs 1,027 crore to Rs 1,370 crore). The deal will immediately allow Oyo’s 10,000 villas and homes in India, Dubai and other markets to be listed on Airbnb, expanding Oyo’s reach and strengthening Airbnb’s presence in Asia, Mint reported.  Maninder Gulati, global chief strategy officer at Oyo, said in a release that Airbnb’s strong global footprint and access to local communities would open up new opportunities for Oyo to strengthen and grow.

Expansion and consolidation

Last month, Mint reported that Oyo was in talks with several venture debt firms and private banks to raise funds to expand its Townhouse property vertical in India. The company also renewed its commercial agreement with MakeMyTrip for another five years around the same time, ET reported. The agreement excludes Oyo’s rivals Treebo Hotels and FabHotels from MakeMyTrip’s platforms. Oyo also said in March that it would pump $200 million into its India and South Asia business to focus on expansion and customer experience. It also launched the Collection O category of hotels.

Oyo’s previous funding

  • In September 2018, Oyo raised $800 million in a funding round led by SoftBank Vision Fund, with participation from existing investors Lightspeed Venture Partners, Sequoia Capital and Greenoaks Capital. It received a commitment for an additional $200 million, for a total investment of $1 billion.
  • In September 2017 Oyo raised $250 million in a Series D round led by SoftBank through its SoftBank Vision Fund.
    Prior to that, It raised $100 million in a funding round led by SoftBank group, Greenoaks Capital, Sequoia Capital and Lightspeed India.
  • In March 2015, Oyo raised $20 million in a funding round led by Greenoaks Capital and other existing investors.

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

The Delhi High Court should quash the government's order to block Tanul Thakur's website in light of the Shreya Singhal verdict by the Supreme...

News

Releasing the policy is akin to putting the proverbial 'cart before the horse'.

News

The industry's growth is being weighed down by taxation and legal uncertainty.

News

Due to the scale of regulatory and technical challenges, transparency reporting under the IT Rules has gotten off to a rocky start.

News

Here are possible reasons why Indians are not generating significant IAP revenues despite our download share crossing 30%.

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ