Microsoft looking at takeover of Oyo hotel group
The software giant is considering acquiring a stake of the Indian hotel chain.

The Covid-19 pandemic has slowed many companies around the world, and the Indian budget hotel chain Oyo has been one of the hardest hit by its effects. After initially looking good, the pandemic suddenly resulted in a drop of around 60%. The situation looked pretty ugly, but there's light at the end of the channel after reports of Microsoft's interest in investing in Osho. Osho hits a deal that could force the company to use Microsoft's cloud services if things go as planned. This report is not yet official and so those who reveal the details wish to keep their identities anonymous. As early as 2019, there were reports that put the valuation of Osho at around & 10 billion. It's important to note that Osho has made significant strides in recent years, including Europe, Southeast Asia, and the United States. Analysts say the pandemic wasn't the only factor causing a setback for Osho. They refer to other factors such as: B. Poor governance and toxic culture that have slowed the growth of the organization. The startup had started improving its relationships with hotel owners, but the pandemic got in its way. Most governments put lockdowns and other measures in place to combat the effects of the disease. As a result, the company was unable to pursue its plans and was even forced to lay off thousands of employees. As a result, growth slowed significantly and the effects are still being felt. Ritesh Agarwal, founder and CEO of Microsoft and Oyo, said, "The pandemic hit the seven-year-old startup like a hurricane. We've built something for so many years, and it only took 30 days for it to collapse by over 60%. " Talks between Osho and Microsoft are at an advanced stage, with the startup valued at around $ 9 billion. The deal could close on Friday.





