Travel startup Stayzilla CEO Yogendra Vasupal arrested
BENGALURU: Travel startup Stayzilla, which announced halt of its operations last month, ran into fresh trouble with its founder and chief executive Yogendra Vasupal taken into custody by commissioner of police in Chennai and locked up in Puzhal prison, a source ET spoke to confirmed.
According to an email screenshot doing rounds on Twitter cofounder Sanchit Singhi asked investors of the company to help Vasupal who went ‘missing’ or out of contact after Vasupal last confirmed his location at the commisioner of police department after which sent a message to Singhi saying ‘they have snatched his phone,’ the email said.
A source close to ET confirmed that Jigsaw Advertising had slapped charges of defrauding against the company causing Vasupal’s arrest.
Singh’s email also mentioned threats and harassment claims from the advertising firm and a complaint that they firm had registered in Mylapore Police Station.
Police also visited Stayzilla's Bengaluru office earlier, but since they had not warrant they were asked to leave, Singhi’s email said.
Started in 2005, Stayzilla recently shut down operations in February to rethink its business strategy.
The company that had raised about $34 million across four rounds of funding, counts Matrix Partners India and Nexus Ventures Partners among investors.
According to an email screenshot doing rounds on Twitter cofounder Sanchit Singhi asked investors of the company to help Vasupal who went ‘missing’ or out of contact after Vasupal last confirmed his location at the commisioner of police department after which sent a message to Singhi saying ‘they have snatched his phone,’ the email said.
A source close to ET confirmed that Jigsaw Advertising had slapped charges of defrauding against the company causing Vasupal’s arrest.
Singh’s email also mentioned threats and harassment claims from the advertising firm and a complaint that they firm had registered in Mylapore Police Station.
Police also visited Stayzilla's Bengaluru office earlier, but since they had not warrant they were asked to leave, Singhi’s email said.
Started in 2005, Stayzilla recently shut down operations in February to rethink its business strategy.
The company that had raised about $34 million across four rounds of funding, counts Matrix Partners India and Nexus Ventures Partners among investors.
