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Vikas Acharya
Building WelBe| Entr...ย โขย 6m
goSTOPS bags Rs 35 Cr in Series A round led by Blume Ventures What is goSTOPS? Imagine a place where young people can stay when they travel. It's not a fancy hotel, but a fun, friendly place called a "hostel." goSTOPS is a company that runs these hostels. They're designed to be colorful, social, and cool for young travelers. What happened? 1๏ธโฃgoSTOPS got a bunch of money from investors. This is called "funding." 2๏ธโฃThey got 35 crore rupees (which is about $4.2 million). Think of it like a big boost to help them grow. 3๏ธโฃMany different groups of people who invest money, called "investors," gave them this money. Why did they get the money? 1๏ธโฃgoSTOPS wants to make their hostels even better. 2๏ธโฃThey'll use the money to improve their technology (like their website and apps), make their hostels more fun and social, and make sure everything runs smoothly. 3๏ธโฃThey also want to open a lot more hostels! They plan to go from having 2,500 beds to 10,000 beds in 100 different places in the next two years. That's a huge expansion. Why are hostels popular? 1๏ธโฃA lot of young people (70%!) like staying in hostels more than regular hotels. 2๏ธโฃHostels are usually cheaper and they're great for meeting new people. Who are goSTOPS's competitors? There are other companies that also run hostels, like The Hosteller, Wudstay, and Backpackers Panda. goSTOPS is a company that makes fun hostels for young travelers. They got a lot of money to grow bigger and better, because more and more young people like staying in hostels when they travel.
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