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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?
THE BIG STORY
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 MakeMyTrip.com 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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