Author: Priyam Mukherjee
OYO Valuation has reportedly crossed $9Bn mark amid Hindustan Media Ventures Ltd. INR 54Cr fundraise. This funding was report in January this year. This was positive sign of the Gurugram based hospitality industry after it dropped to $8Bn last year from $10Bn in November 2019. A recent Crunbase data states that $3.2Bn in 17 funding rounds from 23 inventors. Some of its investors include SoftBank Vision Fund, Sequol Capital, Eightspeed Ventures, Airbnb, and Hero Enterprise. Softbank Vision, OYO lead investor’s CEO Rajeev Mishra said last year that the company had reduce its monthly revenue by 70% from $100bn pre COVID to $30Mn per month in revenue and thus achieving break even. In January 2020 OYO claimed that it had $1Bn in cash an its equivalent to navigate the COVID pandemic. OYO once stated that it had 1.2Mn rooms available in 80 countries such as US, UK, China, Japan and Indonesia. Although, according to Financial Time due to severe losses it is scaling up its international expansion planes as it pulls out of the US, European Markets and Latin America partnerships.