Didi Chuxing invests $100M into Oyo Hotels & Homes

February 17, 2019
Share this Post: 

Oyo ends funding round with $1 billion, bringing the company worth to a total of $5 billion

Didi Chuxing, a ride-hailing company based out of China, has invested an impressive $100 million in Oyo Hotels & Homes, a hospitality chain in India. This brings the value of Oyo to around $5 billion. 

This brings to a close Oyo’s $1 billion financing round led by existing backer SoftBank Vision Fund, which has pumped $800 million into the company.

The Didi investment comes a little over two months after Singapore-headquartered transportation major Grab infused the same amount in the Gurgaon-based startup.

People familiar with the deal said that Beijing-headquartered Didi’s investment is likely to be channeled into Oyo’s fast-growing China business — Oyo Jiudian — a geography that the company has begun referring to as its second home market. A fair chunk of the investment will also come into Oyo's India operations, they said. A representative for Oyo confirmed to ET about the official closure of the $1-billion round.

Relationship Dates Back to 2017

“$900 million was closed back in the quarter ended December 2018 and we have also received the balance $100 million as disclosed in the RoC filings. We do not have any further comments,” the spokesperson said. Didi Chuxing did not reply to recent queries until press time. JPMorgan acted as the financial advisor to the transaction.

The relationship between the two companies dates back to 2017 when Oyo had used the ride-hailing platform to announce its foray into the world’s second-largest economy. At that time, the tagline read, ‘Ride comfortably with Didi, Stay comfortably with Oyo.’

Read more here

Join us in Bangkok the 19th to the 21st of March for the Property Portal Watch Conference.

Property Portal Watch Bangkok Conference. March 19-22, 2019

February 17, 2019

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Nils K
Ringier's Nils Körber on ArtificiaI Intelligence, Training the Machine, and Talking about Problems

"What would you do with one million interns?" The award for the best question at the PropTech and Portal Watch...

Read More
Untitled Design 13
As OnTheMarket Hits 15,000 Advertisers, Zoopla Fights Back with Big Agency Deal

The British property portal Zoopla has announced a new long-term listings deal with Dexters, one of London's top agencies with...

Read More
Untitled Design 12
LeBonCoin Suffers Data Leak and Boliga Comes Under Cyber Attack on Same Weekend

LeBonCoin, the leading French horizontal marketplace owned by Adevinta, has acknowledged that some of its users' personal information was exposed...

Read More
Number 2S Challenging Hero Image 2
Analysis: Can Zoopla, Realtor.com and Domain See Off Challengers and Close the Gap to Market Leaders?

Well-funded challenger portals have been generating a lot of headlines in the industry recently. CoStar has been explicit about its...

Read More

Editor's Pick