Oyo Rooms might acquire Zo Rooms
Bengaluru, India | Red Newswire | Dec 05, 2015 Last Updated at 02:15 PM IST.
The consolidation talks between Oyo Rooms and Zo Rooms are in initial stages, although it is more likely that Oyo will acquire Zo. According to some industry experts, the consolidation will take place in areas including online classifieds, local services, online retail and food delivery.
Oyo Rooms and Zo Rooms were blocked by major travel agencies like Goibibo and MakeMyTrip for marking listings on their websites. This move probably comes from this. SoftBank backed Oyo Rooms is a $400 million company and every month around 250,000 rooms are booked.
On the other side, Zo Rooms is backed by Tiger Global and is worth $90 million and registers around 100,000 bookings per month which is quite small when compare to Oyo.
However, the size of the transaction hasn’t been confirmed yet and the deal is also not finalized. Oyo and Zo apart, we might see merging of Commonfloor and Quikr.
Source: Business Insider