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Saturday, February 25, 2017

Stayzilla suspends operation to come with new business model

Stayzilla has suspended its operation and planning to come up with a new business model.

Stayzilla co-founder and chief executive Yogendra Vasupal said, We would be bringing to a halt the operations of Stayzilla in its current form, and looking to reboot it with a different business model. The initial seven years were all about having negative working capital, positive cash flow and a sustained ability to fund our own growth. Those were the only metrics we tracked. In the last 3-4 years, though, I can honestly state that somewhere I lost my path. I started treasuring GMV, room-nights and other ‘vanity’ metrics instead of the fundamentals of cash flow and working capital.

Also see: Snapdeal to lay off 600 people

At the begining Stayzilla was offering budget hotel accomodations and then shifted its focus to home stays.

It offer travellers more than 55,000 stay options across 4,500 towns. Stayzilla had raised around $33 million in funding from Nexus Venture Partners and Matrix Partners across multiple rounds.

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