The corporate could provided $300m to $500m of funding to help the India-based short-term room provider expand into China.
Internet group Tencent has begun negotiations to invest between $300m and $500m in India-based short-term accommodation provider Oyo Rooms, Times of India reported yesterday.
The deal would value Oyo at $2bn according to two people familiar with the matter, more than double the valuation at which it last raised funding, through a $250m round led by telecommunications and internet group Softbank’s $93bn Vision Fund in September 2017.
Oyo operates a network of branded rooms with standardised facilities in partner…
