Oyo founder seeks new investment at $3.8 billion valuation

Quick Summary:

Oyo founder Ritesh Agarwal’s investment vehicle has proposed to inject another $65.1 million into the hotel management startup, according to shareholder notifications reviewed by TechCrunch.

The investment, through Redsprig Innovation Partners, would value the SoftBank-backed company at $3.8 billion, according to terms shared in the extraordinary general meeting notice.

The hospitality group is preparing to submit regulatory filings — for the third time — for an initial public offering within two months, according to a person familiar with the matter.

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Article Details

Author / Journalist: Manish Singh

Category: Technology

Markets: United StatesIndia

Topics: Ritesh agarwal Oyo Rooms Startups

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-18 @ 04:44:22 (12 hours ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 201 words

Reading Time: 2 minutes read

Sentences: 10 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 23648426

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