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Airbnb confirms stake in India’s OYO, sources say it invested $150M-$200M

Airbnb confirms stake in India’s OYO, sources say it invested $150M-$200M

Takeaways : [ Article dated 1 – Apr – 2019 ]

OYO now valued around $5 billion.

The company has now raised more than $1.5 billion from investors.

Airbnb, with its #HotelTonight acquisition, has shown it wants to be a booking destination across different types of verticals.

OYO is also gunning for Southeast Asia, where it hopes an alliance with Grab can help it break into the region.

Airbnb recently checked in its 500 millionth guest and the company claims it has been profitable for the last two years.

Airbnb claimed that Q3 2018 was its strongest quarter of business ever with “substantially more” than $1 billion in revenue during the three-month period.

For the new, CEO and founder Ritesh Agarwal is a Thiel fellow who started the company in 2011 when aged just 18.

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