OYO may raise up to $500 million at $2 billion valuation
Gurugram-based hotel chain OYO may become India's next unicorn as Chinese Internet company Tencent is reportedly planning to invest $300-$500 million at a valuation of over $2 billion. This comes after SoftBank reportedly asked OYO to look for a new investor for the fresh round. Tencent and SoftBank have invested together only once in India, for ride-hailing startup Ola cabs.