Early Life of Ritesh Agarwal:
Ritesh Agarwal is an Indian entrepreneur and the founder of OYO Rooms, now known as OYO Hotels & Homes. Born on November 16, 1993, in Bissam Cuttack, Odisha, India, Ritesh Agarwal showed a keen interest in entrepreneurship from a young age.
At the age of 17, Ritesh dropped out of college and embarked on his entrepreneurial journey. He started Oravel Stays, a platform for budget accommodation, in 2012. Later, he pivoted the business and rebranded it as OYO Rooms in 2013. The concept of OYO Rooms was to provide standardized and affordable hotel rooms to travelers across India.
Under Ritesh Agarwal's leadership, OYO Rooms experienced rapid growth and expansion. The company received funding from prominent investors and venture capital firms, which helped fuel its growth and establish its presence in several countries, including Malaysia, China, the United Kingdom, and the United States.
Ritesh Agarwal has been recognized for his entrepreneurial achievements and has received accolades such as the Forbes 30 Under 30 in Consumer Technology and the Asian Achievers Award for Entrepreneur of the Year. His vision and innovative approach have made OYO Hotels & Homes one of the largest hospitality chains globally.
Beyond OYO, Ritesh Agarwal is involved in various initiatives and investments. He has shown a keen interest in supporting young entrepreneurs and fostering innovation in the Indian startup ecosystem.
In Rajasthan Kota Ritesh Agarwal write a book and the name of the book is "A complete encyclopedia of the top 100 engineers colleges". At the age of 16 years, Ritesh Agarwal is selected for the Tata Institute of Fundamental Research Asian Science Camp. This was the state where Asia students is talking about some problems and helping science and technology..
Ritesh Agarwal also likes to read business startup books. He has also come to Mumbai, Delhi seminars this is the reason Ritesh Agarwal was living in the hotel under its budget. In this time a business idea occurs in Ritesh Agrawal's mind. He is very impressed with the Airbnb company model. Airbnb is also an online marketplace hospitality service brokerage company based in San Andreas.
Starting of Oravel Stays:
With full planning, Ritesh Agarwal started his first startup Oravel Stays in 2012. The main aim of this company is to provide a room at a low price which can also be booked online. Before starting this company Ritesh Agarwal gets all the knowledge. He knows how to get funding and move forward. This is the reason Ritesh Agarwal got 3000000 in funding from Venture Nursery.
Now Ritesh Agarwal has enough money to grow his business. Orval Stays is a startup where a customer gets a hotel room at a low price but the only problem is people's daily needs facility is not available and slowly Orval Stays' popularity is down.
Starting of OYO Rooms:
After that, Ritesh Agarwal researched Orval Stays' drawbacks and relaunch this company as OYO Rooms. This time customer got a room at a low price with a full facility. Now every OYO room has a standard and every hotel should follow it. Due to these facilities, Ritesh Agarwal started the company OYO Rooms becoming India's largest hospitality company.
For see OYO room's brilliant strategy Lightspeed Venture Partner, DSG consumer partners, Sequoia Capital& Greenoaks Captial five million dollars in funding to OYO rooms. From here OYO room's never look back. OYO Rooms' success is an inspiration for millions of newcomers who wanted to become successful with their hard work and smart work in any field. (:
