Homestay startup Stayzilla shuts; Founder admits failure
Chennai-based homestay startup Stayzilla announced its shutdown on Thursday after 11 years of operation. Admitting to the failure, Co-founder Yogendra Vasupal said, "We could not even recoup what we put in" and added, "We're looking to reboot it with a different business model". Founded in 2005, Stayzilla raised over $35 million from investors including Nexus and Matrix partners.