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Business deals

Airbnb confirms stake in Indian hotel unicorn Oyo

Deal gives home-sharing site a new angle on China and other Asian markets

An Oyo Life apartment in Japan. Indian startup Oyo has branched out beyond hotel bookings. (Photo courtesy of Oyo)

MUMBAI -- Home-sharing platform Airbnb has invested in Indian hotel startup Oyo, which has quickly built a presence in India and China -- two markets where the U.S. company wants to grow.

This investment, confirmed by California-based Airbnb and Oyo on Monday, is reportedly worth $100 million to $200 million and was part of a funding round announced in September.

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