SoftBank slashes Oyo’s valuation to $2.7 billion

SoftBank, the largest backer of Oyo, has cut the Indian hotel chain startup’s valuation to $2.7 billion despite its claims of improved finances in recent months, a person familiar with the matter said.
The Japanese conglomerate, which had slashed its internal valuation of Oyo to $3.4 billion earlier, further slashed the valuation of Oyo by more than 20%, the person said. Bloomberg News first reported the valuation cut. An Oyo spokesperson said the markdown makes “no rational basis.”
Oyo — which also counts Sequoia India and Lightspeed Venture Partners India (both of whi

リンク元