TechCrunch
Microsoft in talks to back India’s Oyo
Indian budget hotel chain Oyo may have lost a significant portion of its business to the pandemic, but it is inching closer to finding a new investor: Microsoft. Microsoft is in advanced stages of talks to invest in Oyo, valuing the Indian startup at about $9 billion, according to people with knowledge of the matter. Oyo was valued at about $10 billion in 2019, though SoftBank, a major investor in Oyo, had slashed the Indian startup’s valuation to $3 billion in recent quarters.
