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The company formed at age of 19, became owner of ₹ 8000 crores at age of 24 years
If the spirits are high then no power in the world can stop them from succeeding. Riteish Agarwal (Oyo Rooms Founder Ritesh Agarwal) started the company leaving engineering at the age of 17 years. Without starting any help, the business has reached a height of more than 71 thousand crore rupees.
At the same time, in the Hurun Rich List 2020, now the founder of Oyo and the youngest Indian of 24 years, Ritesh Aggarwal also got a place. His net worth is $ 110 million (about Rs 8,000 crore). Ritesh’s Oyo Rooms has become the third company in the list of successful Internet companies in the country after Flipkart ($ 20 billion) and Paytm ($ 10 billion). It is also the largest hotel chain in the country.
Let’s know the story of the journey of Oyo Room founder Ritesh Aggarwal …
This is how the company started – Ritesh was very fond of traveling. In 2009, he got a chance to visit Dehradun and Mussoorie. Here he realized that there are many beautiful places about which few people know.
>> Such experiences inspired Ritesh and he thought of creating an online social community where tourists, with the help of property owners and service providers on a single platform, provide affordable accommodation to stay with Bed & Breakfast. Could.
>> In the year 2011, Ritesh started Oravel. Impressed by Riteish’s idea, Manish Sinha of Gurgaon invested in Oravel and became a co-founder.
>> Then Oravel got financial strength in 2012, when it received the basic capital from Venture Nursery Angel, the country’s first angel-based start-up accelerator.
>> However, Ritesh faced many problems in setting up the venture, the main ones being funding, marketing and reaching out to property owners and investors.
>> When Ritesh Aggarwal started Oravel.com, he was just 17 years old. Ritesh’s motive behind the start of this venture was to provide facilities to tourists from all over the country to live at affordable rates.
>> Oravel is a marketplace where from over 3,500 listings of apartments and rooms, you can find and book comfortable and affordable rooms for yourself at half the price of hotels that offer similar amenities in the same area Are available.
>> This company also operates Oyo Ins (oyohotels.com), where a chain of low-priced hotels is available.
>> Ritesh Agarwal was born in Bismatak, a small town located in the south of Odisha, which is known for Naxalite activities. Ritesh College is a drop out. But this weakness has become their strength.
>> Started schooling from Secret Heart School, Raigad. From a young age, stroller Ritesh has been very inspired by Bill Gates, Steve Jobs and Mark Zuckerberg and considers Vedanta’s Anil Agarwal as his role model.
>> Aggarwal is the only dropout to lead a team of people studying in IIM, IIT, HBS and IV leagues. He says, in India, a mockery of a drop out is made. It is not considered smart and sensible. Ritesh once said in an interview that he hopes to earn some more drop outs in the country in the next few years.