Zolostays is a real-tech co-living focused app that provides ready-to-move rooms/beds. It was founded in 2015 by Dr. Nikhil Sikri, Akhil Sikri and Sneha Choudhry.[1][2] [3]
Zolostays competes with other co-living companies like Aarusha Homes, StayAbode,[4] Ziroom, Xiangyu, Quartus, Koumkwat, Bikube and Oyo Living.[5] During the pandemic, Zolo provided 75 of rent-free accommodation to those who lost their jobs.[6] Zolo uses bulk inventory in usually residential township and ties up with real estate companies to make the rooms/beds available.[7][8] Zolostays has both revenue sharing and leased model. [9] It uses Internet of Things technology for electricity and water billing.[10][11]
History
editZolostays was founded in 2015 to solve the problem of students and young professionals who would move to temporarily go to other cities to study and work and look for affordable housing.[12] In 2020, it was operating in 10 Indian cities.[13] It has four round of funding, with total $ 98 Million.[14]
Industry background
editCushman & Wakefield's report, titled 'Exploring the Student Housing Universe in India City Insights', found that there were over 9.08 million students who migrated to study in higher educational institutions in India during the 2018-19 academic year and needed suitable accommodation. The report also identified Delhi-NCR, Mumbai, and Pune as the three primary markets for student housing in the country, and these cities have a need for an additional 4.75 lakh beds from organized co-living operators to satisfy the current demand for student housing.[15]
References
edit- ^ "Want a home? Zolostays is the place for you". The New Indian Express. Retrieved 2022-04-23.
- ^ Majumdar, Romita (2019-11-26). "This medical doctor builds 'community culture' with his co-living platform". Business Standard India. Retrieved 2022-04-23.
- ^ "Disruptions in Real Estate in India" (PDF). KPMG.
- ^ Ramakrishnan, T. (2019-08-03). "'Hostels, co-living space will hit ₹1 trillion-mark by 2023'". The Hindu. ISSN 0971-751X. Retrieved 2022-04-23.
- ^ "Co-Living Market Size, Statistics, Trend Analysis & Growth Forecast". analysis.technavio.com. Retrieved 2022-04-23.
- ^ Chengappa, Sangeetha (2020-06-30). "Zolostays offers 75 days rent-free stay for residents who lost jobs". www.thehindubusinessline.com. Retrieved 2022-04-23.
- ^ "Co-living research report". pdfcoffee.com. Retrieved 2022-04-23.
- ^ "Coliving - Reshaping Rental Housing in India" (PDF). Federation of Indian Chambers of Commerce & Industry.
- ^ Monk, The House. "Global Coliving Report 2019" (PDF).
- ^ "ZoloStays to raise $100 mn for expansion". The Hindu. 2020-03-10. ISSN 0971-751X. Retrieved 2022-04-23.
- ^ "Co Living Rent a Lifestyle" (PDF). Knight Frank.
- ^ Dastidar, Surajit Ghosh; Gupta, Nitin; Raichandani, Damini (2021). Zolostays: Competing in Indian Co-living Space. Emerald Publishing Limited.
- ^ Sil, Debarghya (8 July 2020). "[Funding Alert] Co-Living Startup Zolostays Raises $59 Mn In Series C Round". Entrepreneur. Retrieved 2022-04-23.
- ^ "Zolo in talks to raise $100 million for its new Series D round". Financialexpress. 28 March 2022. Retrieved 2022-12-20.
- ^ "Delhi-NCR, Mumbai, Pune biggest markets for student housing in India: Report". The Economic Times. Retrieved 2022-12-20.