Airbnb under investigation by EU over gatekeeper status
Europe: Airbnb has challenged claims that it qualifies as a ‘gatekeeper’ under the EU’s Digital Markets Act (DMA), after being added to a compliance list earlier this month.
Expedia Group and Microsoft Bing launch loyalty partnership
US: Expedia Group has announced a strategic partnership with Microsoft Corp., bringing together their respective loyalty programmes to offer Bing users additional rewards on bookings powered by Expedia.
Microsoft confirms OYO investment to digitally transform travel industry
India: Microsoft and travel technology company OYO have announced that they have entered a multi-year strategic alliance to co-develop next-generation travel and hospitality products and technologies. OYO will now adopt Microsoft Azure as a key enabler to drive cloud-based innovations and “reimagine” the hospitality and travel tech industry. The solutions will be geared to benefit […]
Microsoft invests $5m in OYO at $9bn valuation
India: SoftBank-backed hospitality chain OYO has received $5 million in investment from global tech corporation Microsoft, according to a regulatory filing, in the lead-up to the company’s proposed initial public offering [IPO]. The funding in the hotel aggregator was already rumoured last month, and it is believed that Microsoft currently values OYO at around $9 […]
OYO rumoured to be edging towards $1.2bn IPO
India: SoftBank-backed hospitality chain OYO is rumoured to be edging towards an initial public offering [IPO] after hiring JP Morgan, Kotak Mahindra Capital and Citi for an initial $1.2 billion share sale. Financial news website Moneycontrol reports that work on the IPO is already underway and the startup is considering debuting on the domestic public […]
Microsoft in talks to invest in OYO ahead of IPO
India: Global tech corporation Microsoft is in advanced talks to invest strategically in hospitality chain OYO ahead of a proposed IPO for the Indian startup. It is believed that Microsoft would value OYO at around $9 billion, a valuation which has fluctuated between $10 billion and $3 billion over the last two years, and an agreement […]
Airbnb to invest $25m in affordable housing projects
US: Airbnb is pledging $25m to invest in projects aiming to support, build and preserve affordable rental housing in California, by launching a new pilot programme. Focusing on the Bay Area and Los Angeles County, the Community Impact Investing programme, will work in partnership with RBC Global Asset Management. It will join forces with local […]