Oyo books $200 million funding from Airbnb
1 April 2019 10:17 AM GMT
The Oyo-Airbnb deal deal will immediately allow Oyo?s 10,000 villas and homes in India, Dubai and other markets to be listed on Airbnb.The Airbnb-Oyo deal is seen as bolstering the US company's hotel-booking business ahead of a planned IPO
- Bengaluru: Airbnb Inc. , the world's largest home-sharing platform, on Monday said it has invested an undisclosed amount in India's budget hotel startup, Oyo (Oravel Stays Pvt. Ltd) , as the US company seeks to bolster its hotel-booking business ahead of a planned IPO .
- Two people familiar with the matter said Airbnb has invested between $150 million and $200 million in Oyo as part of the Indian startup's Series E funding round.
- While the home-rental platform has about 47,000 properties listed in India, globally Airbnb has almost 6 million listings across 81,000 cities in 191 countries.
- In India, Oyo is present in more than 259 cities, with more than 8,700 buildings and over 173,000 rooms, the hotel startup claims.
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