Stayzilla Closes Indian Alternative Lodging Business Despite Raising $34 Million
Skift Take
It was only last May that Stayzilla received $13 million in a Series C round. An impressive-seeming execution must have blinded investors to spreadsheet data showing the company was not generating enough revenue to cover its costs.
Stayzilla, a Chennai, India-based consumer startup for booking homestays, alternative lodging, and budget hotels, has suspended bookings on its website and mobile app. Chief executive and co-founder Yogendra Vasupal said in a Medium post on Thursday that his team was unable to expand while breaking even.
Stayzilla had raised $34 million since it was founded
