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Oyo raises $807 million funds
March 18, 2020
Oyo raised $807 million from Softbank and RA hospitality. Parent company of Oyo has issued convertible cumulative preference shares to Softbank and RA hospitality.
Softbank and RA hospitality will hold around 75% stake in Oyo. Online hospitality firm Oyo has cut 5,000 jobs recently.
This development comes after company has cut jobs across India and China markets but on the other hand the company has made changes in its different verticals.
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