We earlier reported this morning that Zo Rooms has been out of sight for almost 24 hrs and Softbank earnings now confirms the report that Oyo has acquired Zo Rooms.
ZO Rooms earlier raised $30mn led by Softbank.
OYO : ZO Rivalry
The two companies have used a lot of guerrilla tactics to market themselves against the other, especially when Zo did some cheesy ambush campaigns during Oyo’s app launch. In fact, the two companies have taken the battle to court as well in the past, so be assured that this merger is purely driven by investors and not founders.
Both Oyo and Zo had similar revenues in FY14-15 (Zo: Rs. 2.6 crores, OYO: Rs. 2.4 crores), but Oyo has gained an edge owing to the massive funding ($100mn) they raised.
