6:50:49 PM PDT - Sunday, October 2nd, 2022

SoftBank cuts internal valuation of $10 billion Oyo to $2.7 billion  

By Editor - Thu Sep 22, 5:46 am

SoftBank, the largest investor in Oyo, has cut the Indian hotel chain’s valuation to $2.7 billion at a time when the startup is months away from going public, a source familiar with the matter said. An Oyo spokesperson said the startup has improved its finances in recent months, and it believes the speculation about a valuation cut is inaccurate. The markdown makes “no rational basis,” the spokesperson added. SoftBank declined to comment. Oyo — whose backers include Sequoia India and Lightspeed Venture Partners India (both of which have taken significant exits from the startup), Airbnb and Microsoft — was valued at about $10 billion in a round in 2019. India’s Oyo valued at $10B after founder purchases $2B in shares SoftBank owns 45% of Oyo, according to the startup. It’s not rare for investors to markup or markdown the valuation of their portfolio startups, though other private investors may not agree with the assessment.

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SoftBank cuts internal valuation of $10 billion Oyo to $2.7 billion

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