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startups asia

Oyo’s Annual Loss Grew Six Fold

By
Wayne Ma
· · Source: Reuters

Oyo, an India-based hotel startup backed by SoftBank, saw its losses widen to $335 million from about $50 million in its 2019 fiscal year, which ended last March, Reuters reported, citing company filings that were just made available. Oyo said the losses were due to its overseas expansion in China and elsewhere overseas, Reuters said. Oyo’s revenue, meanwhile, rose to $951 million from $211...

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