Oyo draws $5M from Microsoft, pegging value at $9.6B

Microsoft has made a $5 million investment in Oyo that values the Indian lodging startup at $9.6 billion, just shy of the $10 billion implied valuation it received in a 2019 financing round. SoftBank, one of Oyo’s largest investors, placed the company’s value at $3 billion recently after the coronavirus pandemic took a toll on revenues.