It’s been almsot 24 hours and Zo Rooms, which last raised $30mn led by Tiger has been out of sight.
The site is not at all accessible and even the app isn’t functional (the servers are down).
OYO : ZO Deal
We earlier reported that OYO-Zo acquisition is almost in the final stage and from what we know, the deal is finalized and will be announced shortly.
But a shutdown without any announcement? That’s quite on the wrong side for any (consumer) business. This is where consumers/vendors start to lose trust in ‘startups’.
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.
