<p>Microsoft Corp is in advanced talks to invest in Indian hotel chain Oyo at a $9 billion valuation, a source familiar with the matter said on Thursday.</p>.<p>The deal could be announced in the coming weeks and would be a prelude to an initial public offering (IPO) by Oyo, the source said.</p>.<p>Founder and Chief Executive Officer Ritesh Agarwal said earlier this month that Oyo would consider a potential public offering, but did not provide a timeline.</p>.<p>The deal may involve Oyo shifting to use Microsoft's cloud services, TechCrunch reported earlier on Thursday, citing people familiar with the matter.</p>.<p>Oyo is one of India's largest startups. Founded by Agarwal in 2013, it aggregates bookings for budget hotels around the world.</p>.<p>The hotel aggregator, in which SoftBank Group Corp owns 46% stake and is one of its biggest bets, has endured months of layoffs, cost cuts and losses since the Covid-19 pandemic outbreak last year.</p>
<p>Microsoft Corp is in advanced talks to invest in Indian hotel chain Oyo at a $9 billion valuation, a source familiar with the matter said on Thursday.</p>.<p>The deal could be announced in the coming weeks and would be a prelude to an initial public offering (IPO) by Oyo, the source said.</p>.<p>Founder and Chief Executive Officer Ritesh Agarwal said earlier this month that Oyo would consider a potential public offering, but did not provide a timeline.</p>.<p>The deal may involve Oyo shifting to use Microsoft's cloud services, TechCrunch reported earlier on Thursday, citing people familiar with the matter.</p>.<p>Oyo is one of India's largest startups. Founded by Agarwal in 2013, it aggregates bookings for budget hotels around the world.</p>.<p>The hotel aggregator, in which SoftBank Group Corp owns 46% stake and is one of its biggest bets, has endured months of layoffs, cost cuts and losses since the Covid-19 pandemic outbreak last year.</p>