Exclusive: Stayzilla Founder Tells His Story
The founder whose arrest created a stir among India's entrepreneurs, says despite his 28 day jail time, he is an entrepreneur forever. Yogendra Vasupal or Yogi as he is known, is the Chennai-based entrepreneur who set up the home stay booking platform Stayzilla in 2010 along with co-founder Sachit Singhi, on the lines of Airbnb. It raised $34 million before hitting turbulence and eventually announcing a halt in operations, a 'reboot' as he called it, and laying off 600 people in February this year. He went to jail on charges of fraud and criminal embezzlement among other things for allegedly failing to pay a vendor 1.69 crores and arrest that saw 1,000 entrepreneurs including Paytm's Vijay Shekhar Sharma and OLA's Bhavish Agarwal write to the home minister in protest.
