Let’s start today’s story with a question.
What is the easiest and sure-shot way for a startup to enter the exalted “Unicorn” club consisting of companies valued at over a billion dollars?
Why, raise a billion dollars, of course.
According to reports, OYO Rooms, the SoftBank-backed hospitality startup, is poised to do exactly that in a new funding round of up to $1 billion that may value the company at a mind-boggling sum of over $4 billion.
If that isn’t enough, now that SoftBank has exited Flipkart and written off Snapdeal, OYO seems to have emerged as the behemoth’s favourite child in India.