Ride-Hailing Firm Grab Invests $100 Million In Oyo
Grab infused about $100 million (Rs 733 crore) in Oyo Hotels & Homes as both the firms aim to go deeper into the South-east Asian market.
The Singapore-based ride-hailing company made the investment through its subsidiary A1 Holdings Inc., according to filings made with the Registrar of Companies and reviewed by BloombergQuint.
The investment is part of $1 billion Oyo raised in September from SoftBank Vision Fund, Sequoia Capital and Lightspeed Venture Partners, a person privy to the deal told BloombergQuint on the condition of anonymity. At the time, Oyo had said it raised $800 million and has a commitment for $200 million more.
Grab was last valued at more than $10 billion and Oyo at $5 billion. Both the firms count Japan's SoftBank Group Corp as one of the key investors.
Oyo is scaling up in Southeast Asia with presence in Malaysia and Indonesia. At the time of investment two months ago, the hotels company said while it has earmarked $600 million for expanding operations in China, the rest will be ploughed into Southeast Asia and the U.K.
Grab, which acquired Uber's Southeast Asian business in March, is also expanding rapidly through Southeast Asia, including Thailand, Vietnam, Indonesia Malaysia, and the Philippines. Grab has already raised $2 billion this year as it wages an expensive battle against Indonesia's Go-Jek.
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High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
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Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
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Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
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Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
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Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
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India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
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France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
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You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
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Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
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FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
