Valuation of Oyo was $10 billion in 2019 but now it has come down
Tech giant Microtech is investing in hospitality chain Oyo.
The valuation of Oyo has been fixed at $9 billion for this investment.
This is below the company’s $10 billion valuation.
Oyo’s valuation reached $10 billion in 2019 after the company’s founder Ritesh Agarwal’s investment.
However, it is not yet clear how much Microsoft will invest in Oyo.
However, a source with knowledge of the matter said that the company usually invests $100 million.
So it is possible that the company’s investment in Oyo will also be the same.
A source with knowledge of the matter said that the business of the company is improving.
Microsoft has decided to invest because of improving the company’s business, especially in Europe. Along with this, the company’s business in South Asia is also getting back on track.
Oyo’s valuation reached $10 billion in 2019.
But after that there has been a tremendous decline in its valuation due to coronavirus infection.
A source said that the valuation of the company had reached $ 9 billion since the fund raising from HT Media Ventures earlier this year.
The company may raise more funds in its 6-7 months.