Microsoft Funds Indian Hospitality Unicorn At $9.6B Valuation Despite Pandemic-Induced Downturn

Benzinga2021-08-20

Microsoft has invested $5 million in Softbank Group Corp-backed Indian hotel aggregator chain Oyo Rooms, TechCrunchreportedon Thursday, confirming earlier speculations.

What Happened: The fresh funding values Oyo, which allows users to book rooms via their phones or the web and has navigated through the pandemic with layoffs and losses, at $9.6 billion.

The startup was valued at $10 billion in a funding round in July 2019 but due to the hit taken amid the pandemic, its valuation slipped to $3 billion in recent quarters as implied in a funding from Japan's Softbank, which is one of its largest investors.

Last month, Oyo said it had raised $660 million in debt.

Why It Matters: Microsoft has in the past made investments in Indian startups that include news aggregator and short-video platform DailyHunt, Wal-Mart-owned e-commerce giant Flipkart, and logistics SaaS firm FarEye.

The deal may require Oyo, which is considering an initial public offering, to use Microsoft’s cloud services, the report noted.

Price Action: Microsoft shares closed 2.08% higher at $296.77 on Thursday.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Stchua
2021-08-20
Stchua
[Smile]
Slee49
2021-08-20
Slee49
Like
- Slee49:
  Like
eo1668
2021-08-20
eo1668
pls ?& comment
Grit100
2021-08-20
Grit100
Like n comment pls. Thx
- Grit100:
  .
Heidit
2021-08-20
Heidit
Cool
- TWR:
  yes
- theunmouse:
  Yes
Xann
2021-08-20
Xann
Like pls
- Heidit:
  Ok

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北京时间&nbsp;&nbsp;&nbsp;<strong>Benzinga</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Microsoft has invested $5 million in Softbank Group Corp-backed Indian hotel aggregator chain Oyo Rooms, TechCrunchreportedon Thursday, confirming earlier speculations.\nWhat Happened: The fresh ...</p>\n\n<a href=\"None\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MSFT","symbol_name":"微软","start_time":0,"source_url":null,"article_id":"1187650059","we_media_id":"1052270027","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1187650059","pubTimestamp":1629446036,"sourceInfo":null,"weMediaInfo":{"media_name":"Benzinga","introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"summary":"Microsoft has invested $5 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Thx","listText":"Like n comment pls. Thx","text":"Like n comment pls. Thx","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/836986406","repostId":1187650059,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5589270,"gmtCreate":1629447547730,"gmtModify":1663232655935,"authorId":3581502897038686,"author":{"id":3581502897038686,"idStr":"3581502897038686","authorId":3581502897038686,"name":"Grit100","avatar":"https://static.tigerbbs.com/c3c65cb20cfcce91cc07fddb27bc3ccd","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":836986406,"type":1,"supId":0,"prevId":0,"content":".","text":".","html":"."}],"langContent":"EN"},{"id":836911475,"gmtCreate":1629446580797,"gmtModify":1676530043850,"author":{"id":"3585567341976837","authorId":"3585567341976837","name":"Heidit","avatar":"https://static.tigerbbs.com/b15a14bcb1e7c71684448d84f3e500e7","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3585567341976837","authorIdStr":"3585567341976837"},"htmlText":"Cool&nbsp;","listText":"Cool&nbsp;","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/836911475","repostId":1187650059,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5589266,"gmtCreate":1629447527689,"gmtModify":1663232656147,"authorId":3574678218317719,"author":{"id":3574678218317719,"idStr":"3574678218317719","authorId":3574678218317719,"name":"TWR","avatar":"https://static.tigerbbs.com/cf3718eed79c7e18a334b9c179d47926","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":836911475,"type":1,"supId":5589139,"prevId":0,"content":"yes","text":"yes","html":"yes"},{"id":5589139,"gmtCreate":1629446720095,"gmtModify":1663232655045,"authorId":3572018203797244,"author":{"id":3572018203797244,"idStr":"3572018203797244","authorId":3572018203797244,"name":"theunmouse","avatar":"https://static.tigerbbs.com/c336181da66212b3d13c0ea59b6f69b5","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":836911475,"type":1,"supId":0,"prevId":0,"content":"Yes","text":"Yes","html":"Yes"}],"langContent":"EN"},{"id":836919668,"gmtCreate":1629446262754,"gmtModify":1676530043786,"author":{"id":"3582771700317616","authorId":"3582771700317616","name":"Xann","avatar":"https://static.tigerbbs.com/b936c65d357a7d2d686ad9e6335c3c18","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3582771700317616","authorIdStr":"3582771700317616"},"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/836919668","repostId":1187650059,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5589116,"gmtCreate":1629446590279,"gmtModify":1663232653628,"authorId":3585567341976837,"author":{"id":3585567341976837,"idStr":"3585567341976837","authorId":3585567341976837,"name":"Heidit","avatar":"https://static.tigerbbs.com/b15a14bcb1e7c71684448d84f3e500e7","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":836919668,"type":1,"supId":0,"prevId":0,"content":"Ok ","text":"Ok ","html":"Ok "}],"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":34,"commentSize":6,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1187650059"}