OYO, which was founded by was founded Thiel Fellow Ritesh Agarwal, has a network that spans 230 cities primarily in India, where it offers some 70,000 rooms, but also Malaysia and Nepal.

Oyo Hotels & Homes will be investing $50 million to expand in Vietnam, where it says it has opened 90 hotels with 1,500 rooms in the past three Oyo to invest $50 million on Vietnam expansion.

Budget-hotels marketplace OYO rooms is in advanced talks of securing around $100Mn from SoftBank Corp and other investors. The funds so raised will be primarily used for expansion.

Ritesh Agarwal’s online marketplace for affordable stays, OYO Rooms, received $100 million in funding from SoftBank earlier this week. Agarwal is 21, and demographically aligned to a youthful ...