[Global Travel News] Indian technology media Livemint quoted two people familiar with the news that OYO plans to complete the IPO in the next two to three years. One of the insiders is directly related to OYO.
Informed sources who have direct contact with OYO said, “In the past few months, IPO has been a hot topic for investors. OYO's goal is to go public within two to three years, and the company is moving toward this goal in an orderly manner.”
Four non-OYO investors who asked not to be named said that once listed, OYO's valuation may be as high as $18 billion. The current OYO valuation in the Indian market is second only to Paytm, known as "India Alipay."
Paytm received $300 million in investment from Buffett's Berkshire Hathway in August last year, at a value of $10 billion at the time. According to the report of the Indian Times on March 28, Paytm is still negotiating a new round of financing, which will increase its valuation to 17-18 billion US dollars.
According to people familiar with the matter, OYO has not yet specified which stock exchange to list, but the hotel is very likely to be listed overseas. OYO is not yet profitable, and the US market seems to be more accommodating this business model.
In September last year, OYO announced that it had received a total investment of 800 million U.S. dollars. In addition, it also confirmed that it received a investment commitment of 200 million U.S. dollars, making this round of financing totaling 1 billion U.S. dollars. This round of financing was led by Softbank, and internationally renowned investment institutions such as CO-Speed Capital, Sequoia Capital and Greenoaks Capital. OYO's valuation at the time was close to $5 billion, six times the 2017 valuation.
Vivek Durai, founder of Paper.vc, the Indian business intelligence open data platform, said, “Eoy every time you enter a new market, its valuation will increase by $2 to $3 billion.”
OYO did not respond to the survey sent by Livemint on Monday.xx
OYO采取了一系列IPO准备措施。创始人李太希计划实施股票回购计划，并将业务简化为两个主要部门：印度酒店业务以及国际和技术业务。据“印度时报”报道，李太希正在回购OYO早期投资者Sequoia Capital和Lightspeed Ventures的股票，以增加他们的持股比例。根据Paper.vc，李泰西目前持有OYO的9.43％，红杉资本持有10.24％，COAST Capital持有13.4％。