Stayzilla founder out on bail; says Jigsaw matter was not financial but moral
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Clearing the air behind the reason for his arrest, Vasupal has stated that the matter was never financial, and that the searing dispute with its vendor
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Vasupal says that he found clear evidence that Jigsaw was attempting forgery in many pictures that they had sent as proofs of StayZilla’s outdoor campaigns, and gave their founder
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Jigsaw was an intermediary for Stayzilla since it never raised invoices for outdoor, print, or radio campaigns. The invoices always came from experienced media agencies, who used to pay commission to Jigsaw. But then, in the December 2015 campaign, Stayzilla started receiving invoices directly from Jigsaw, which made them take notice of the discrepancies and probe further.
Also read: The Stayzilla fiasco is an ugly heads-up of the future of the Indian startup ecosystem
When asked if there was a scope for mediation, Vasupal said that he is out to prove all the accusations wrong, since accepting mediation would mean giving into extortion and proving them right.
SZ had made online posts about being intimidated but they never filed a police complaint. When asked the reason, Vasupal says that even though his cofounder Sachit Singhi and their advocates were in favour of filing a complaint, it was Vasupal himself who decided to take things slowly, which resulted in loss of time. By the time they had had enough of the threats, it had become difficult to lodge a complaint.
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On being asked about the future of SZ and when would its operations resume, Vasupal admits that even though he had meetings lined up with possible business partners, he was picked from the road and put behind bars. Now, he will restart conversations with the potential partners only after he gets time from Singhi's anticipatory bail and assisting the investigation.(Image source OfficeChai)
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