Stayzilla decided to halt operations in February and said it was looking at a different business model.
"All Yogi wanted was a complete restructuring (reboot) of Stayzilla and had begun discussions with prospects in the accommodation and tourism space. He even attended a travel summit in Delhi in the 2nd week of March to begin his discussions on the reboot. He was in the process of liquidation of assets that were not generating revenue and focus on vehicles which had a good opportunity in the current system. Company was also in the parallel process of collection from debtors and other pay offs," wrote co-founders in the blog.
The company has raised $34 million in four funding rounds from Nexus Venture Partners, Matrix Partners and others.
News Source - Business Standard