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The Japanese investor, the largest shareholder in the hotel-booking firm, cut its estimated value for Oyo to $2.7 billion in the June quarter 2022 from an earlier $3.4 billion after benchmarking it against peers with similar operations, said the people, asking not to be named because the information isnโ€™t public. The lodging firm had reached a valuation of $10 billion in a 2019 funding round.

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