How oyo rooms work
Ritesh Agarwal (founder of OYO Rooms): Success story & life story
A teenager who is not only a millionaire, but also the founder and CEO of OYO -zimmer, the fastest growing brand network of hotels, both online and offline. The tall and skinny boy, Ritesh Agarwal has made a name for himself in society when it comes to achieving great success at a very young age.
Birth and early life
The young entrepreneur's birthday falls on November 16. He was born in 1993 and grew up in a small town called Muskrat in Cuttack, Odisha. He completed his school education in his home state.
At the very young age of 13, Ritesh embarked on his first project where he traveled to different parts of the country to analyze how the hotel system worked. His parents wanted him to excel in college, but he had an aptitude that was better than the regular textbooks. Traveling through different parts of the world gave him a great experience.
A college dropout who studied engineering and never actually studied outside of school is now running the most valuable startup. He even sold SIM cards to make a living because he was afraid that his parents would likely call him back to Odisha if they found out that he was not living in good conditions.
Image by Kota
In Kota, Rajasthan, where he was preparing for his IIT entrance exam, nothing amused him more than the weekend trip where he could slip to Delhi and meet people who were in their own business and doing things in their own way.
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At the age of 19
The young entrepreneur was enthusiastic about traveling and at the age of 19 he traveled for months and stayed in budget hotels for some time. He even participated in customer calls every day to find out about the customers visiting the hotels and their expectations. He actually laid the foundations that helped him start his own business.
Turning point: software became his love
He was connected to computers and loved playing around with them and finding ways to make mistakes so he could learn new things. His interest in software and hunger continued to grow, and to quench his thirst, he also borrowed programming books from his older brother. Aside from some basic languages such as Pascal, which he was taught during high school, he managed to learn other basic programming languages from Google himself.
Write a book
The book, which became a huge hit on Flipkart and sold in large numbers, entitled "Indian Engineering Colleges: A Complete Encyclopedia of the Top 100 Engineering Schools," was actually written by this young entrepreneur.
Formation of Oravel
In 2011, Ritesh decided to move to Delhi and start something of his own. He was also preparing for SAT to continue his studies in the US, but that never happened. He came up with the idea of meeting the basic needs of budget travelers. So he took the same opportunity to start his first company in 2012. " Oravel stays It was a collection of bed and breakfasts. It should actually be the goal of bed and breakfast apartments with serviced apartments or private rooms for people looking for short and medium term rentals.
30 lakhs from Venture Nursery
Within a period of time, he managed to get 30 lakhs of rupees from Venture Nursery which actually brought together a group of story-backed investors to promote startups. With funds in his pocket, he was able to present his new ideas at the Thiel Fellowship, a global competition for students under the age of 20. He gained money advantage.
Oyo means on your own. Ritesh could sense and understand the plight of people traveling to different places, and it was only because of the lack of budget that they stayed in bad or shitty places. He therefore created an online platform to collect ideas and experiences of the social community about all the places they were on a single platform. In 2013 he restarted Oravel as Oyo rooms.
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About Oyo room
With the company exceeding a gross bill of more than 1 crore per month, it was all down to the idea of creating India's largest scene of standardized, effective spaces where diverse services and expectations are met at fair prices like never before.
Achievements and Awards
In 2013 he was selected as one of the top 50 entrepreneurs by the TATA First Dot Awards. That same year, he was named one of the 8 Hottest Teenage Startup Founders in the World by Business Insider. In 2014 he received the TIE Luminous Entrepreneurial Excellence Award. The very next year he won the Business World Young Entrepreneur Award.
First Indian to win the Thiel scholarship
Ritesh was the first Indian to win the Thiel Fellowship Award, which is considered a coveted scholarship award.
Top 10 entrepreneurs
He has consistently made the list of Top 10 Indian Entrepreneurs in Various Categories, and was added to Forbes' 30 under 30s consumer technology list at the age of 22.
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