Both the website and app of Tiger Global backed branded budget room chain Zo Rooms has been down for over 24 hours, in what could be interpreted as signs of a consolidation in the sector.
Update: The Zo Rooms website and app are operational again. Paavan Nanda, Co-Founder of Zo Rooms declined to comment on rumours of an acquisition.
Gadgets 360 was unable to load both the app and website, and according to reports on its Facebook page, the site has been down since February 8. Zo Rooms hasn’t updated its social media feeds on Facebook and Twitter since November 2015.
Rumours of Oyo Rooms acquiring Zo Rooms had been doing the rounds at the end of December 2015. In its last reported fund raise, Zo Rooms had secured $30 million (roughly Rs. 203 crores) in funding from existing investors, Tiger Global Management and Orios Venture Partners, in August 2015.
Gadgets 360 has emailed the founders of Zo Zooms and its investors Tiger Global, Orios Venture Partners, and Sol Primero seeking a comment on whether its operations are expected to resume soon, or if an acquisition or shut down is on the cards. We’ll be updating our copy soon once we have a response from them.
Founded in 2014, Zo Rooms listed over a hundred properties in Delhi-NCR, Mumbai, Bengaluru, Pune, Hyderabad, Jaipur and Goa, when its services were operational
Travel booking portal MakeMyTrip had blocked Oyo Rooms and Zo Rooms from its portal in November 2015, and launched its own value chain shortly thereafter. SoftBank-backed Oyo Rooms had claimed over 1 million bookings on its website in January 2015.
[“source-gadgets.ndtv”]
