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From unicorn to popcorn?

DNMUM429735 | 1/11/2019 | Author : Ashish K Tiwari | WC :1531

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Several start-ups in India have earned the unicorn tag over the past few years, but risky business models have raised doubts over their billion-dollar valuations. Are we heading for a shakeout in the e-comm space?
Ritesh Agarwal, the college dropout who started budget hotel start-up OYO, checked into the unicorn club last September after raising $1 billion from Japan’s Softbank and other investors. While the story of its newly acquired status was making the rounds globally, a different script was simultaneously shaping up in the home market.
OYO got caught in a fight between hotel asset owners and online travel agencies (OTAs), mainly and GoIbibo over unethical practices, high commission rates and deep discounting practices. Another major allegation was that it had a sizeable percentage of illegal motels, hotels, bed and breakfast accommodations and guesthouses on its platform.
Calling itself a hotel c
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