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Airbnb invests in OYO

News comes as home-sharing giant makes push for IPO

Brian Chesky (Credit: Michael Lewis / Fortune Magazine)

Airbnb has invested upto $200 million into Indian hotel-booking startup OYO Hotels & Homes, according to Skift. OYO offers technology to small budget hotels to help streamline bookings, management, and food orders. Hotels join its franchise program in exchange for a 20 percent fee, WSJ noted.

By the numbers: OYO has 18,000 franchised or leased hotels. This ranks the startup as the sixth largest hotel operator in the world.

Worth Noting: The Indian company has raised more than $1 billion in equity from investors. Most recently, SoftBank invested at a $5 billion valuation. 

IPO prep: After acquiring HotelTonight last month, Airbnb’s Brian Chesky outlined his vision to become a comprehensive travel marketplace. This OYO investment is in line with that vision.

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