Airbnb invests in OYO’s series E funding round
Home-renting company Airbnb has invested in Indian hotel reservation start-up OYO's series E funding round, as it dives deeper into the hotel-booking business.
Airbnb did not disclose the details of its investment in OYO, however, as per sources, the round is close to between $100-$200 million.
It expects revenue to more than treble every year over the next five years, as it expands locally and in international markets, a senior company executive told Reuters earlier this year."Airbnb's strong global footprints and access to local communities will open up new opportunities for OYO Hotels & Homes..." said Maninder Gulati, global chief strategy officer at OYO Hotels & Home.
U.S.-based Airbnb will look at ways to make the OYO accommodation available on its platform, the co...